KRS 136.376: Priority of application and use of credits against insurance taxes.

(Effective July 1, 2027)

(1) For purposes of the credit permitted by KRS 154.20 -195, if a taxpayer is entitled to

more than one (1) of the tax credits allowed against the taxes imposed by KRS

136.320, 136.330, 136.340, 136.350, 136.370, 136.390, and 304.3 -270, the priority

of application and use of the credit shall be determined as follows:

(a) The nonrefundable credits shall be taken in the following order:

1. The Kentucky Inves tment Fund Act credit permitted by KRS 154.20 -

258; and

2. The New Markets Development Program credit permitted by KRS

141.434; and

(b) After the application of the nonrefundable credits in paragraph (a) of this

subsection, the refundable certified mixed -use rehabilitation credit permitted

by KRS 136.374 shall be taken.

(2) A taxpayer claiming a credit against any of the insurance premiums taxes imposed

by KRS 136.320, 136.330, 136.340, 136.350, 136.370, or 136.390 shall not be

required to pay additional retaliatory tax imposed by KRS 304.3-270.

(3) The Department of Revenue shall include information about this credit in the report

required under KRS 141.3821(5).