Bill > HB835

This bill modifies the New Markets Development Program tax credit by allowing amounts received as repayment on a qualified low-income community investment, which is an investment in businesses or projects in low-income areas, to be considered continuously held if those amounts are reinvested in another qualified low-income community investment by the end of the following calendar year, ensuring that funds continue to support these targeted communities. Additionally, the bill doubles the total annual cap on New Markets Development Program tax credits that can be awarded by the department from $10 million to $20 million, thereby increasing the overall availability of these tax incentives for businesses and investors participating in the program.

Budget and Finance

https://apps.legislature.ky.gov/record/26RS/hb835.html