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HB 131 Kentucky House · 2026 Regular Session

AN ACT relating to a tax credit for Kentucky Educational Savings Plan Trust account contributions.

Summary
Create a new section of KRS Chapter 141 to establish a nonrefundable credit against the tax imposed under KRS 141.020 for qualifying contributions made to a Kentucky Educational Savings Plan trust account in accordance with the guidelines in 26 U.S.C. sec. 529; for taxable years beginning on or after January 1, 2027, but before January 1, 2031; amend KRS 141.0205 to provide the ordering of the tax credit; amend KRS 131.190 to allow the department to report on the credit.
Issues: ✓ Budget & TaxesSupports Budget & TaxesCreates nonrefundable tax credit for 529 plan contributions, reducing taxable income for education savings, aligning with tax relief indicators.85% confidence ✓ EducationSupports EducationProvides tax credit for 529 savings plans, incentivizing higher education savings and expanding access to postsecondary funding through tax incentives.90% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2026
Committee Review
Floor Vote
Governor
Introduced Jan 7, 2026 Last action Jan 14, 2026
Floor votes

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Full legislative history

Actions timeline

Total actions
3
Key actions
0
Committee
2
Jan 14, 2026
Committee
to Appropriations & Revenue (H)
lower
Jan 7, 2026
Committee
to Committee on Committees (H)
lower
Jan 7, 2026
Introduced
introduced in House
lower
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.