Summary of Original Version

Amend KRS 141.017, 141.019, and 141.039 to conform with Pub. L. No. 116-260, Sec. 276 to allow deductions paid with proceeds from a forgiven loan under the Paycheck Protection Program.

Summary of Amendment: House Committee Substitute 1

Summary Amend KRS 141.017, 141.019 and 141.039 to allow for the same tax treatment as for federal purposes related to forgiven covered loans, deductions, and tax attributes associated with those loans in accordance with Pub. L. No. 116-260.

Summary of Amendment: House Committee Amendment 1 -- J. Petrie

Summary Make title amendment.

Summary of Amendment: House Floor Amendment 1 -- S. Rudy

Summary Make title amendment.

Summary of Amendment: House Floor Amendment 2 -- P. Flannery

Summary Retain original provisions of the bill; expand the federal provisions adopted to include an additional section of Pub. Law No. 116-260; modify the taxable years to which Kentucky's income tax would apply the federal provision.

Summary of Amendment: Senate Committee Substitute 1

Summary Amend KRS 141.017, 141.019 and 141.039 to allow for the same tax treatment as for federal purposes related to forgiven covered loans, deductions, and tax attributes associated with those loans in accordance with Pub. L. No. 116-260.

Statutes affected:
Introduced: 141.017, 141.019, 141.039
Acts Chapter 22: 141.017, 141.019, 141.039
House Committee Substitute 1: 141.017, 141.019, 141.039
Senate Committee Substitute 1: 141.017, 141.019, 141.039
Current: 141.017, 141.019, 141.039