AN ACT relating to the community restoration tax credit.

Create a new section of KRS Chapter 141 to establish the community restoration credit for taxable years beginning on or after January 1, 2024, but before January 1, 2028, for financial institutions making loans to a community development financial institution; establish the annual credit cap at $20 million; require the Department of Revenue to report tax credit data to the Interim Joint Committee on Appropriations and Revenue; amend KRS 141.0205 to order the credit; amend KRS 131.190 to allow the Legislative Research Commission to receive confidential data about the new tax credit from the Department of Revenue.