Kentucky legislation · 2026 Regular Session
Kentucky HB835: AN ACT relating to the New Markets Development Program tax credit.
Status: In committee, March 10, 2026
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.
What the bill says
An act relating to the New Markets Development Program tax credit.
From the introduced text:
AN ACT relating to the New Markets Development Program tax credit. Be it enacted by the General Assembly of the Commonwealth of Kentucky: Section 1. KRS 141.433 is amended to read as follows: (1) A qualified community development entity that seeks to have an equity investment or long-term debt security certified as a qualified equity investment and eligible for the tax credit permitted by KRS 141.434 shall apply to the department. The qualified community development entity shall submit an application on a form that the department provides that shall include but not be limited to: (a) The name, address, tax identification number, and evidence of the certification of the entity as a qualified community development entity; (b) A copy of an allocation agreement executed by the entity or its controlling entity and the Community Development Financial Institutions Fund, which includes the Commonwealth of Kentucky in its service area; (c) A certificate executed by an executive officer of the entity attesting that the allocation agreement remains in effect and has not been revoked or canceled by the Community Development Financial Institutions Fund; (d) A description of the proposed amount, structure, and purchaser of the equity investment or long-term debt security; (e) The name and tax identification number of any person or entity eligible to utilize tax credits as a result of …
Sponsors
- J.T. Payne (R, HD-011) · primary sponsor
Latest actions
- : to Appropriations & Revenue (H)
- : to Committee on Committees (H)
- : introduced in House
Subjects: Taxation, Taxation, Income--Individual, Taxation, Income--Corporate
Common questions
- What is HB835?
- HB835 is a bill in the Kentucky Legislature (2026 Regular Session): AN ACT relating to the New Markets Development Program tax credit.
- What does HB835 do?
- In its own words: An act relating to the New Markets Development Program tax credit.
- What is the status of HB835?
- In committee as of March 10, 2026. Latest action: to Appropriations & Revenue (H) (March 10, 2026).
- Who sponsored HB835?
- J.T. Payne (R, HD-011).
- Where is the official record for HB835?
- On the Kentucky Legislature website: https://apps.legislature.ky.gov/record/26rs/hb835.html
Source: official Kentucky record. Tracked by Delilah, AI for legislation across all 50 states and Congress.