HB228

Kentucky HB228 creates a tax credit for renters with incomes at or below 133% of the federal poverty line.

HB228 introduces a refundable tax credit for renters in Kentucky who qualify as renters with incomes at or below 133% of the federal poverty line. The credit, equal to 25% of qualified rent payments, can be up to $1,000 per taxable year. This credit applies to rent paid for permanent, primary residences within the Commonwealth, excluding advance payments and security deposits. The bill defines terms such as "qualified rent payments," "qualified renter," and "rented dwelling," and it specifies that the credit is available for taxable years beginning on or after January 1, 2027.