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HB 372 Kentucky House · 2025 Regular Session

AN ACT relating to the New Markets Development Program tax credit.

Summary
Amend KRS 141.433 to allow amounts received as repayment on a qualified low-income community investment and reinvested in another qualified low-income community investment during the same calendar year to be considered continuously held; amend KRS 141.434 to increase the cap on total New Markets Development Program tax credits from $10 million to $20 million in each fiscal year.
Issues: ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credit cap from $10M to $20M for low-income community investments, expanding tax incentives to fund economic development programs.90% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 6, 2025 Last action Feb 12, 2025
Floor votes

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Full legislative history

Actions timeline

Total actions
3
Key actions
0
Committee
2
Feb 12, 2025
Committee
to Appropriations & Revenue (H)
lower
Feb 6, 2025
Committee
to Committee on Committees (H)
lower
Feb 6, 2025
Introduced
introduced in House
lower
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.