summary
Introduced
01/21/2026
01/21/2026
In Committee
01/29/2026
01/29/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Amend KRS 154.30-010 to remove the sunset date in the definition of "modified new revenues for income tax" to make it permanent.
AI Summary
This bill permanently removes a sunset date from the definition of "modified new revenues for income tax," which is a calculation used in tax increment financing (TIF) to determine the amount of individual income tax that can be used for TIF projects. Previously, this calculation was only applicable for calendar years 2023 through 2026, but this change makes it a permanent feature for projects approved before January 1, 2023. Tax increment financing is a tool used by local governments to finance public improvements and economic development projects by capturing the increase in property taxes generated by new development.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
to Appropriations & Revenue (H) (on 01/29/2026)
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/26RS/hb462.html |
| BillText | https://apps.legislature.ky.gov/recorddocuments/bill/26RS/hb462/orig_bill.pdf |
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