Kentucky HB 589: AN ACT relating to affordable housing for veterans and senior citizens. Create a new section of KRS Chapter 198A to establish the Kentucky affordable housing credit, which applies to the income and insurance taxes, in an amount related to the amount of federal low-income housing tax credit; limit the total amount of all credits awarded during any year to the greater of 50 percent of the federal low-income housing tax credits awarded on qualified projects or $3,500,000; create a new section of KRS Chapter 141 to allow the income tax credit; amend KRS 141.0205 to order the income tax credit; create a new section of KRS Chapter 136 to order the insurance tax credits; amend various statutes to conform.

Status: To Appropriations & Revenue (H) (as of 2018-03-01)

State: Kentucky · Session: 2018RS · Bill: HB 589

Sponsors: J. Richards, R. Rothenburger

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