HB667: AN ACT relating to the Kentucky work opportunity tax credit.

Legislative Summary

Create a new section of KRS Chapter 141 to establish a Kentucky work opportunity tax credit contingent on eligibility for the federal work opportunity tax credit; set maximum credit amount of $500 per eligible employee; specify the tax is available for taxable years beginning on or after January 1, 2025, but before January 1, 2029; amend KRS 141.0205 to provide the ordering of the tax credit; amend KRS 131.190 to allow the Department of Revenue to report on the credit.