Kentucky HB 768

Create a new section of KRS Chapter 141 to establish a refundable Kentucky working credit equal to 30% of the federal earned income credit allowed for the taxable year; a taxpayer's modified gross income to be in excess of the amount eligible for the family size tax credit allowed in KRS 141.066(limit the credit to $2,000 per taxable year; make credit effective for taxable years beginning on or after January 1, 2027, but before January 1, 2031; amend KRS 141.0205 to order the credit; amend KRS 131.190 to allow the Department of Revenue to report on the credit.