Bill > HB225

This bill establishes a new refundable income tax credit for volunteer firefighters in Kentucky, offering a $1,000 credit for taxable years beginning on or after January 1, 2027, and before January 1, 2031, with the goal of increasing volunteer firefighter numbers. To ensure accountability and evaluate the credit's effectiveness, the Department of Revenue will annually report data on credit claims, amounts, and distribution by county and income level to the Legislative Research Commission, and this information will not be considered confidential taxpayer data. The bill also clarifies the order in which this new volunteer firefighter credit will be applied alongside other existing tax credits, placing it among the refundable credits, and amends existing law to allow the sharing of confidential tax return information with the Legislative Research Commission specifically for the purpose of evaluating this new volunteer firefighter credit.

Budget and Finance

https://apps.legislature.ky.gov/record/26RS/hb225.html