HB723 allocates 80% of sales and use tax receipts from certain establishments to the Kentucky Heritage Land Conservation fund.

HB723 creates a new section in Kentucky Revised Statutes to direct 80% of the tax receipts, interest, and penalties from sales and use taxes collected from establishments classified under the 2022 North American Industry Classification System Code 459110 to the Kentucky Heritage Land Conservation fund. This allocation is set to occur on or before October 1, 2026, and every October thereafter.

HB723 allocates 80% of sales and use tax receipts from certain establishments to the Kentucky Heritage Land Conservation fund.

HB723 creates a new section in Kentucky Revised Statutes to direct 80% of the tax receipts, interest, and penalties from sales and use taxes collected from establishments classified under the 2022 North American Industry Classification System Code 459110 to the Kentucky Heritage Land Conservation fund. This allocation is set to occur on or before October 1, 2026, and every October thereafter.