summary
Introduced
02/24/2026
02/24/2026
In Committee
03/03/2026
03/03/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Create a new section of KRS Chapter 139 to annually transfer 80% of the sales and use taxes, interest, and penalties collected during the preceding fiscal year from sporting goods retailers from the general fund to the Kentucky Heritage Land Conservation fund.
AI Summary
This bill proposes to create a new section within Kentucky Revised Statutes (KRS) Chapter 139, which deals with sales and use taxes. Specifically, it mandates that starting on or before October 1, 2026, and annually thereafter, 80% of the sales and use taxes, along with any collected interest and penalties, that were gathered in the previous fiscal year from businesses classified under the North American Industry Classification System (NAICS) Code 459110 will be transferred from the general fund to the Kentucky Heritage Land Conservation fund. The NAICS code 459110 refers to sporting goods retailers, meaning this provision will direct a significant portion of sales tax revenue generated by these specific businesses towards land conservation efforts in Kentucky.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
to Appropriations & Revenue (H) (on 03/03/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://apps.legislature.ky.gov/record/26RS/hb723.html |
| BillText | https://apps.legislature.ky.gov/recorddocuments/bill/26RS/hb723/orig_bill.pdf |
Loading...