HB426

Kentucky HB426 creates a tax credit for renters with incomes at or below 133% of the federal poverty line.

Kentucky HB426 introduces a tax credit for renters who meet specific income criteria. This bill allows qualified renters to claim a refundable tax credit for rent payments made to occupy a rented dwelling within the Commonwealth. The credit is equal to 25% of the qualified rent payments, up to a maximum of $1,000 per taxable year. A qualified renter is defined as an individual or family with a household income at or below 133% of the federal poverty line.