Showing 6 of 6
bills
All budget & taxes bills
Direct the Legislative Research Commission to establish the Property Tax Relief Task Force to study and review the taxation of property and make policy recommendations to address affordability issues; require the task force to seek input from other groups in the development of policy recommendations and strategies; outline task force membership; require the task force to meet monthly during the 2026 Interim; require the task force to submit its findings and recommendations to the Legislative Research Commission by December 1, 2026.
Create new sections of KRS Chapter 65 to provide incremental revenue tax incentives to the Rural Kentucky Revitalization Opportunity Partnership; define terms; state findings; establish the Rural Kentucky Revitalization Opportunity Partnership Board; establish incentive program; create an income tax credit for certain residents; amend KRS 141.0205 to order the credit; amend KRS 131.190 to allow reporting by the Department of Revenue.
Create a new section of KRS Chapter 141 to establish a nonrefundable income tax credit for alternative jet fuel producers; require the Department of Revenue, in conjunction with the Department of Agriculture and the Energy and Environment Cabinet, to promulgate administrative regulations; require the department to report on the credit to the Legislative Research Commission; amend KRS 141.0205 to order the credit; amend KRS 131.190 to allow the Department of Revenue to report on the credit.
Amend KRS 141.0401 to exempt entities doing business in Kentucky with gross receipts of less than $100,000 from paying the limited liability entity tax for taxable years beginning on or after January 1, 2027.
Amend KRS 141.020, relating to the individual income tax, to establish graduated individual income tax rates for taxable years beginning on or after January 1, 2027; remove provisions relating to tax rate reduction procedures.
Amend KRS 141.020 to establish a graduated tax rate for net income of $300,000 or less; establish a flat tax rate of 6% for net incomes in excess of $300,000; and remove provisions relating to tax rate reduction procedures.
