summary
Introduced
01/03/2024
01/03/2024
In Committee
01/03/2024
01/03/2024
Crossed Over
Passed
Dead
04/15/2024
04/15/2024
Introduced Session
2024 Regular Session
Bill Summary
Amend KRS 141.019 to increase the retirement distribution exclusion from $31,110 to $41,110 for taxable years beginning on or after January 1, 2025.
AI Summary
This bill amends KRS 141.019 to increase the retirement distribution exclusion from $31,110 to $41,110 for taxable years beginning on or after January 1, 2025. This means that taxpayers will be able to exclude up to $41,110 of total distributions from pension plans, annuity contracts, profit-sharing plans, retirement plans, or employee savings plans from their adjusted gross income for those years, allowing them to pay less in taxes on their retirement income.
Sponsors (7)
Ashley Tackett Laferty (D)*,
George Brown (D),
Beverly Chester-Burton (D),
Al Gentry (D),
David Hale (R),
Mark Hart (R),
Cherlynn Stevenson (D),
Last Action
to Committee on Committees (H) (on 01/03/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://apps.legislature.ky.gov/record/24RS/hb134.html |
| BillText | https://apps.legislature.ky.gov/recorddocuments/bill/24RS/hb134/orig_bill.pdf |
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