Introduced

Passed House

Passed Senate

Became law

Adjourned sine die. The bill was pending when the session ended, so it did not pass.

Last action · March 10, 2026

To Appropriations & Revenue (H)

Introduced March 3, 2026

House

Adjourned Sine Die

2026 Regular Session

HB835

AN ACT relating to the New Markets Development Program tax credit.

Amend KRS 141.433 to allow amounts received as repayment on a qualified low-income community investment and reinvested in another qualified low-income community investment during the same calendar year to be considered continuously held; amend KRS 141.434 to increase the cap on total New Markets Development Program tax credits from $10 million to $20 million in each fiscal year.

Taxation Taxation, Income--Corporate Taxation, Income--Individual

Read the full text Kentucky Legislature LegiScan

AI-generated. Always verify with primary sources

Plain-language summary

Beta

This bill would double the annual cap on New Markets Development Program tax credits from $10 million to $20 million, making more tax credit funding available each year. It also clarifies that when a qualifying investment is repaid and the money is reinvested in another qualifying low-income community investment within the same calendar year, it counts as continuously held. The New Markets Development Program encourages private investment in low-income communities across Kentucky. Who it may affect: businesses and investors participating in the New Markets Development Program, and low-income communities that receive development investments.

Open official bill text (PDF)·Report a problem with the summary