Summary of Original Version

Amend KRS 141.020 to reduce the individual income tax rate from 4% to 3.5% for taxable years beginning on or after January 1, 2026.

Summary of Amendment: House Floor Amendment 1 -- C. Aull

Summary Retain original provisions; and create a new section of KRS Chapter 141 to allow a school employee qualified wage exclusion and establish a school employee tax credit for wages earned in excess of $100,000 per taxable year; amend KRS 141.019 to include the exemption; amend KRS 141.0205 to order the tax credit; amend KRS 131.190 to allow the Department of Revenue to report on the exemption and tax credit.

Summary of Amendment: House Floor Amendment 2 -- C. Aull

Summary Make title amendment.

Summary of Amendment: House Floor Amendment 3 -- E. Hancock

Summary Retain original provisions, amend KRS 141.019 to exclude all income earned from all sources by a state service employee for taxable years beginning on or after January 1, 2026.

Summary of Amendment: House Floor Amendment 4 -- E. Hancock

Summary Make title amendment.

Summary of Amendment: House Floor Amendment 5 -- S. Doan

Summary Amend KRS 141.020 to reduce the individual income tax rate by one percentage point for each taxable year, starting with a rate of 3% for taxable years beginning on or after January 1, 2025.

Summary of Amendment: House Floor Amendment 6 -- A. Moore

Summary Retain original provisions; amend KRS 141.019 to exclude income earned by veterans.

Summary of Amendment: House Floor Amendment 7 -- A. Moore

Summary Make title amendment.

Summary of Amendment: House Floor Amendment 8 -- A. Camuel

Summary Amend KRS 141.020 to create graduated tax rates based on income for taxable years beginning on or after January 1, 2026.

Summary of Amendment: House Floor Amendment 9 -- R. Roarx

Summary Retain original provisions, amend KRS 139.200 to remove certain services for which sales tax is imposed upon.

Summary of Amendment: House Floor Amendment 10 -- R. Roarx

Summary Make title amendment.

Summary of Amendment: House Floor Amendment 11 -- A. Donworth

Summary Delete original provisions; create a new section of KRS Chapter 141 to establish a refundable Kentucky child tax credit for taxpayers with qualifying children under the age of six; authorize a maximum credit of $1,000 per qualifying child for individuals with income below $50,000 for single taxpayers and $100,000 for married taxpayers filing jointly; authorize individuals with incomes above the specified thresholds to be eligible for a reduced child tax credit; amend KRS 141.0205 to order the tax credit; amend KRS 131.190 to allow the Department of Revenue to report on the tax credit.

Summary of Amendment: Senate Floor Amendment 1 -- G. Williams

Summary Delete all original provisions; amend KRS 141.020 to establish individual income tax rate reductions starting with taxable years beginnning on or after January 1, 2026 through January 1, 2030.

Statutes affected:
Introduced: 141.020
Current: 141.020