summary
Introduced
01/27/2026
01/27/2026
In Committee
02/03/2026
02/03/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Create a new section in KRS Chapter 141 to establish a nonrefundable individual income tax credit for an eligible child; define "eligible child"; allow credit for taxable years beginning on or after January 1, 2027, but before January 1, 2031; establish that the credit amount is equal to $4,000 per eligible child, not to exceed $8,000 per return, per taxable year; amend KRS 141.0205 to order the credit; amend KRS 131.190 to allow the Department of Revenue to report on the credit.
AI Summary
This bill establishes a new nonrefundable individual income tax credit for an "eligible child," defined as a child aged six to eighteen who is subject to compulsory school attendance but does not attend a public school. This credit, which can be claimed for taxable years beginning on or after January 1, 2027, and before January 1, 2031, is set at $4,000 per eligible child, with a maximum of $8,000 per tax return annually. The bill also amends existing laws to specify the order in which this new credit is applied against other tax credits and to allow the Department of Revenue to report on the credit's usage, including the number of claims, total amount claimed, and county-level distribution, without violating taxpayer confidentiality.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
to Appropriations & Revenue (H) (on 02/03/2026)
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/hb489.html |
| BillText | https://apps.legislature.ky.gov/recorddocuments/bill/26RS/hb489/orig_bill.pdf |
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