Provides tax credits and exclusions for contributions to a Kentucky Saves account.
Advances contributions made to a Kentucky Saves account by providing tax credits and exclusions. Specifies that the exclusion from gross income is limited to $1,500 per taxpayer or $3,000 for married taxpayers filing jointly. Establishes a refundable credit equal to 50% of the total contributions made during the taxable year, not exceeding $250 for taxpayers with gross income of $175,000 or less and $3,000 for married taxpayers filing jointly with a combined income of less than $350,000.
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