Kentucky HB 541: AN ACT relating to the highly skilled employee tax credit. Establish Subchapter 13 of KRS Chapter 154 and create new sections thereof to define terms and create a tax credit for residents of the Commonwealth that are employed in high-skill, high-demand industry sector positions in an amount not to exceed $1,500 for each eligible position and a total of $3 million in each fiscal year; create a new section in KRS Chapter 141 to allow a nonrefundable, nontransferable tax credit against the individual income tax for taxable years beginning on or after January 1, 2018, but before January 1, 2022, and to require reporting by the department; amend KRS 141.0205 to order the tax credit; amend various sections to conform to the reporting requirements.

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

State: Kentucky · Session: 2018RS · Bill: HB 541

Sponsors: P. Pratt

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