Bill > HB640

This bill makes a technical correction to Kentucky Revised Statute (KRS) 131.170, which deals with the Department of Revenue's authority to grant extensions for filing tax reports or returns. The amendment removes the specific phrase "of Revenue" from the text, clarifying that the "department" itself, without needing to explicitly state "of Revenue," has the power to grant reasonable extensions for good cause, keep records of these extensions, and set conditions like requiring a bond for extensions that postpone tax payments, while also collecting interest at the tax interest rate as defined in KRS 131.010(6) on any postponed tax. The bill also allows the department to permit filing or payment on different dates or to change fiscal periods if it doesn't ultimately reduce state revenue.

Budget and Finance

https://apps.legislature.ky.gov/record/26RS/hb640.html