HB222 - AN ACT relating to tax incentives for first-time home buyers.
Kentucky - 2024 Regular Session
Introduced byKillian Timoney, Kimberly Banta, Kevin D. Bratcher
Last updated 9 months ago
19 Co-Sponsors
Create a new section in KRS Chapter 141 to define terms; establish a tax deduction for contributions made to an eligible savings account by a first-time home buyer and allow an exclusion from income for any interest earned from an eligible savings account of a first-time home buyer effective for taxable years beginning on or after January 1, 2025, but before January 1, 2035; require the Department of Revenue to report to the Legislative Research Commission and the Interim Joint Committee on Appropriations and Revenue; amend KRS 141.019 and 131.190 to conform.
STATUS
Introduced
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