Bill > HB238

This bill establishes a new apprenticeship tax credit for employers in Kentucky, offering a nonrefundable credit against income taxes for taxable years beginning on or after January 1, 2027, and before January 1, 2031. Qualified employers, defined as those employing an apprentice in a registered apprenticeship program that meets specific hour requirements (4,000 to 10,000 hours over two to five years), can claim a credit equal to 50% of wages paid to the apprentice or 100% of training and education expenses, whichever is less. This credit is capped at $2,000 per apprentice, or $3,500 if the apprentice or employer is located in an "enhanced incentive county" (a county designated by the Kentucky Economic Development Finance Authority). The bill also amends existing law to specify the order in which this new apprenticeship credit is applied alongside other tax credits and allows the Department of Revenue to report detailed information about the credit's usage to the Legislative Research Commission to help evaluate its effectiveness.

Budget and Finance

https://apps.legislature.ky.gov/record/26RS/hb238.html