Bill > HB133

This bill creates a new section of KRS Chapter 141 to establish a refundable income tax credit for certain active volunteer firefighters. The credit is worth $1,000 per year and is available for taxable years beginning on or after January 1, 2025, but before January 1, 2029. The purpose of the credit is to increase the number of active volunteer firefighters in the Commonwealth. The bill requires the Department of Revenue to provide annual reports to the Legislative Research Commission and the Interim Joint Committee on Appropriations and Revenue to evaluate the impact of the credit. The bill also amends KRS 141.0205 to provide the ordering of the credit and amends KRS 131.190 to allow confidential tax return information to be shared with the Legislative Research Commission and the Interim Joint Committee on Appropriations and Revenue for the purposes of this credit.