AN ACT relating to contributions made to a Kentucky Saves account.

Amend KRS 141.019 to establish an exclusion for amounts contributed to a Kentucky Saves account for taxable years beginning on or after January 1, 2025, but before January 1, 2029; create a new section of KRS Chapter 141 to establish the parameters for the Kentucky Saves exclusion and Kentucky Saves tax credit; require the Department of Revenue to report annually on the exclusion and tax credit; amend KRS 141.0205 to provide ordering of the tax credit; and amend KRS 131.190 to allow the Department of Revenue to report on the exclusion and tax credit.