AN ACT relating to contributions made to a Kentucky qualified expense program.

Create a new section to KRS Chapter 141 to provide employers a tax credit for contributions to an employee's Kentucky Educational Savings Plan Trust account or STABLE Kentucky account; amend KRS 141.0205 to specify ordering of the credit; amend KRS 131.190 to allow the Department of Revenue to report on the credit.

Introduced: January 9, 2025

Last action: February 4, 2025

To Appropriations & Revenue (H)

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This bill would create a state tax credit for Kentucky employers who contribute money to their employees' education savings accounts or STABLE Kentucky accounts, which are savings tools for people with disabilities. It also sets rules for how the credit is applied and allows the Department of Revenue to report on its use. Who it may affect: employers, workers saving for education costs, and Kentuckians with disabilities who hold STABLE Kentucky accounts.

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