HB364
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Create a new section of KRS Chapter 141 establishing the refundable home installation credit, not to exceed $7,500 annually, for qualifying home installations to increase the habitability or efficiency of the residence for individuals that are age 65 or older or have a physical or mental impairment; effective for taxable years beginning on or after January 1, 2026, but before January 1, 2030; amend KRS 141.0205 to establish ordering of the credit; amend KRS 131.190 to allow information to be provided to the Legislative Research Commission.
Introduced: February 5, 2025
Last action: February 7, 2025
Plain-language summary
This bill would create a new tax credit of up to $7,500 per year for Kentucky residents who pay for certain home installations designed to make their home safer or more accessible. The credit would be available for taxable years 2026 through 2029 and would be refundable, meaning eligible filers could receive money back even if they owe little or no state income tax. It is intended to help cover costs of improvements that increase…
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Legislative History
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Co-sponsors (2)
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