Summary of Original VersionAmend KRS 65.490 to remove the minimum square-mile requirement for a development area; amend KRS 65.494 to define "existing development area" and "new development area"; allow certain new development areas to be created within an existing development area.
Summary of Amendment: House Committee Substitute 1Summary
Retain original provisions; make a technical correction; prohibit certain payments from being taken considered for determining if thresholds within the contract have been met.
Summary of Amendment: House Committee Substitute 2Summary
Retain original provisions; amend KRS 131.250 to require electronic filing of returns and electronic payments of tax beginning July 1, 2026, for certain brewers; amend KRS 132.010 and 136.010 to remove date limitations for certain property included within the definition of "real property"; amend KRS 132.140, 138.208 and 157.362 to require that the property tax reductions on distilled spirits be based on the assessed value instead of the applicable tax rates; amend 141.020 to allow the individual income tax rate to reduce by tenths, rather than one-half of a percentage point, for taxable years beginning on or after January 1, 2028; amend KRS 141.381 to extend the current training incentives for 10 years to April 15, 2037; amend KRS 148.851, 148.853, 148.855, and 148.859 to allow incentives for certain tourism attractions and lodging facility projects; amend KRS 154.30-050, 91A.390, 154.30-010, and 154.30-030 to allow a revised project to reapply under certain provisions; amend KRS 241.010 to add definitions; amend KRS 243.720, 243.730, 243.790, 243.850, and 243.884 to impose an excise tax and a wholesale sales tax on cannabis-infused beverages; create a new section of KRS Chapter 246 to state that the General Assembly is committed to research and development of an alternative fuels policy; create a new section of KRS Chapter 139 to allow a sales tax refund to certain facility operators and sponsoring entities of entertainment events; amend KRS 131.190 to mandate the Department of Revenue report on certain sales tax refunds; prohibit refunds related to certain real property and apply the certain real property provisions retroactively to property assessed on or after December 31, 2022; EFFECTIVE, in part, July 1, 2025.
Summary of Amendment: House Committee Amendment 1 -- J. PetrieSummary
Make title amendment.
Summary of Amendment: House Floor Amendment 1 -- D. GordonSummary
Create a new section of KRS Chapter 65 to define terms; allow two or more local governments to form a regional industrial taxing district; establish requirements for an economic development project in a regional industrial taxing district; allow the district to levy a special ad valorem tax; allow local governments to impose an occupational license fee on businesses, trades, and professions performed, rendered, or conducted within a regional industrial taxing district; establish requirements for the occupational license fee and the revenues collected; require the establishment of a board as part of the interlocal agreement.
Summary of Amendment: Senate Committee Substitute 1Summary
Retain original provisions; amend KRS 154.60-040 to define "actively engaged farmer," "beginning farmer," "buyer," "department," "seller," and "significant contribution"; allow expanded tax credit caps for each year of the seller of $25,000 if the agricultural assets are sold to an actively engaged farmer with a lifetime cap of $100,000 or $50,000 if the agricultural assets are sold to a beginning farmer with a lifetime cap of $200,000; amend KRS 141.010 to update the Internal Revenue Code reference date; amend various sections of KRS Chapter 243 to require a license and fee to be paid by a cannabis-infused beverage manufacturer, distributor, direct shipper, and retailer; amend KRS 154.20-220 to allow incentives for certain data centers locating in areas with certain populations; amend 2025 RS HB 566/EN, Section 3, to require the first audit conducted to cover fiscal year 2024-2025; prohibit the Kentucky Horse Racing and Gaming Corporation from authorizing certain locations for play of electronic charity game tickets; allow the Kentucky Horse Racing and Gaming Corporation to promulgate administration regulations in contemplation of statutes granting authority to the corporation.
Summary of Amendment: Senate Floor Amendment 1 -- G. WilliamsSummary
Retain original provisions; update fiscal years in which the reduction conditions are reviewed for an individual income tax rate decrease for taxable years beginning on or after January 1, 2027.
Summary of Amendment: Senate Floor Amendment 2 -- G. WilliamsSummary
Retain original provisions; update fiscal years for review of the reduction conditions; allow the individual income tax rate to be reduced in increments of one percent until the rate is reduced to zero percent beginning with taxable years on or after January 1, 2028.
Summary of Amendment: Senate Floor Amendment 3 -- L. TichenorSummary
Amend KRS 139.495 to exempt purchases and sales of tangible personal property, digital property, or services made by qualifying resident nonprofit educational, charitable, or religious institutions from state sales and use taxes.
Summary of Amendment: Senate Floor Amendment 4 -- C. McDanielSummary
Amends KRS 241.010 definition of "cannabis-infused beverage" to reflect the definition as passed in SB 202/EN.
Statutes affected: Introduced: 65.490, 65.494
House Committee Substitute 1: 65.490, 65.494
House Committee Substitute 2: 65.490, 65.494, 131.250, 132.010, 136.010, 132.140, 138.208, 157.362, 141.020, 141.381, 148.851, 148.853, 148.855, 148.859, 91A.390, 241.010, 243.720, 243.730, 243.790, 243.850, 243.884, 131.190
Senate Committee Substitute 1: 65.490, 65.494, 131.250, 132.010, 136.010, 132.140, 138.208, 157.362, 141.020, 141.381, 148.851, 148.853, 148.855, 148.859, 91A.390, 241.010, 243.720, 243.730, 243.790, 243.850, 243.884, 131.190, 141.3841, 141.010, 243.027, 243.030, 243.040
Current: 65.490, 65.494, 131.250, 132.010, 136.010, 132.140, 138.208, 157.362, 141.020, 141.381, 148.851, 148.853, 148.855, 148.859, 91A.390, 241.010, 243.720, 243.730, 243.790, 243.850, 243.884, 131.190