141.382 Refundable or transferable tax credit for qualified rehabilitation expenses

110 words·~1 min read·/ky/141-382

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for certified historic structure meeting the requirements of KRS 171.396 and

171.397.

(1)As used in this section:

(a)"Certified historic structure" means the same as defined in KRS 171.396;

(b)"Qualified rehabilitation expense" means the same as defined in KRS

171.396; and

(c)"Substantial rehabilitation" means the same as defined in KRS 171.396.

(2)A refundable or transferable credit in the amount determined in KRS 171.397 shall

be allowed against the taxes imposed by KRS 136.505 or 141.020 or 141.040 and

141.0401, with the ordering of credits provided in KRS 141.0205, for qualified

rehabilitation expenses incurred by the taxpayer and used for substantial

rehabilitation to a certified historic structure.