Environmental & Healthcare Legislative Watch50 States · D.C. · U.S. Congress
From official state and federal legislative records. Informational only, not legal advice.
With a committee
A small team of lawmakers (a committee) is reading it closely and deciding if it's a good idea.
Next: the committee votes on whether it moves to the full chamber.
In plain words
AI summaryWritten by AI from the bill text. Check the official text before relying on it.
Amend KRS 171.396 to define and redefine certain terms; allow the certified rehabilitation credit cap to be allocated as 15% for owner-occupied residential property and 85% for property other than owner-occupied residential property, including workforce housing; require that projects approved as workforce housing maintain affordability for individuals earning 80% of the county level area median income or less; amend KRS 171.397 to state that the provisions established in this statute pertain to applications received before April 30, 2026; create a new section of KRS Chapter 171 to apply to applications received after April 30, 2026 with certain changes; current credit program cap of $100 million is maintained; with a split of $50 million into 2 separate credit allocation application rounds; expand the credit to apply to certain taxes imposed in KRS Chapter 136; require the Kentucky Heritage Council to work with the Kentucky Housing Corporation to ensure the workforce housing property maintains area median income affordability requirements for 5 years within completion of the certified rehabilitation; create a new section of KRS Chapter 198A to require the corporation to work with the Kentucky Heritage Council for these purposes; amend KRS 141.0205; 141.382; and 171.3961 to make conforming changes.
