HB 428 (BR 1508) - M. Denham
AN ACT relating to tobacco warehouses.
Amend KRS 99.595 to include definition of tobacco warehouse; amend KRS 99.600 to include tobacco warehouses as property eligible for property assessment or reassessment moratoriums; amend KRS 99.605 to include a tobacco warehouse owner or lessee as a person eligible to apply for a property assessment or reassessment moratorium; require the assessing official of a tobacco warehouse, when establishing its taxable value, to treat the costs to restore, repair, rehabilitate, or stabilize the building as an offset against the property's fair market or fair cash value; create a new section of KRS Chapter 141 to provide a tax credit for tobacco warehouse remediation costs; amend KRS 141.0205 to include the tobacco warehouse remediation tax credit in the list of tax credit priorities.
Feb 11-introduced in House
Feb 14-to Appropriations and Revenue (H)