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HB 483 KY
Introduced

AN ACT relating to the natural resources severance and processing tax.

KY · session 2022RS · Assembly / House · bill

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Introduced Feb 10, 2022

Latest action (Feb 10, 2022) to Committee on Committees (H)

Summary

Amend KRS 143A.010 to redefine "processing" to include the act of loading or unloading limestone that has not otherwise been severed or treated in the Commonwealth; amend KRS 143A.035 to allow a credit for substantially identical severance or processing taxes paid to another state or political subdivision thereof; provide that a taxpayer may not claim a total amount of credit that exceeds the taxpayer's tax liability; allow the Department of Revenue to report tax credit information to the Legislative Research Commission; amend KRS 131.190 to authorize the release of information from the Department of Revenue; EFFECTIVE August 1, 2022.

Sponsors (2)

Action history (2)
  1. Feb 10, 2022 introduced in House · lower
  2. Feb 10, 2022 to Committee on Committees (H) · lower
Subjects
Effective Dates, DelayedLocal MandateMinerals and MiningReports MandatedTaxationTaxation, Severance

Text versions (1)

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

  • Introduced · PDF

Full text

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