{"data":{"id":"us-ky/krs-141.381","jurisdiction":"us-ky","citation":"KRS 141.381","heading":"Nonrefundable tax credit for entities participating in the Metropolitan","body":"College.\n(1) As used in this section:\n(a) \"Corporation\" means the Bluegrass State Skills Corporation established by\nKRS 154.12-205;\n(b) \"Educational institution\" means a regionally accredited college, university, or\ntechnical school;\n(c) \"Metropolitan College\" means a nonprofit consortium that includes\neducational institutions located within the Commonwealth and the qualified\ntaxpayer as members. The purpose of Metropo litan College shall be to\nprovide postsecondary educational opportunities to employees of the qualified\ntaxpayer as part of a combined work and postsecondary education program;\n(d) \"Other educational expenses\" means the same kinds of educational expenses\nthat were permitted under the Metropolitan College Consortium Agreement\napproved November 5, 2005; and\n(e) \"Qualified taxpayer\" means any taxpayer who, on June 26, 2009, is a party to\nthe Metropolitan College Consortium Agreement approved November 5,\n2005.\n(2) To be eligible for the tax credit provided by this section, a qualified taxpayer shall\nbe a partner in Metropolitan College.\n(3) A qualified taxpayer shall be allowed a nonrefundable credit against the tax\nimposed by KRS 141.020 or 141.040, and KRS 141 .0401, for each taxable year\nbeginning on or after July 1, 2010, in the amount of fifty percent (50%) of the\nactual costs incurred by the qualified taxpayer for:\n(a) Tuition paid to an educational institution for a student participating in the\nMetropolitan College; and\n(b) Other educational expenses paid on behalf of a student participating in the\nMetropolitan College;\non behalf of employees of the qualified corporation, for up to two thousand eight\nhundred (2,800) employees each year.\n(4) To claim the credit each year, the qualified taxpayer shall, on an annual basis,\nsubmit to the corporation information listing each e mployee of the qualified\ntaxpayer for whom tuition or other educational expenses were paid, the amount paid\non behalf of each employee, and the amount of credit the qualified company is\neligible to claim. The corporation shall review the information provid ed by the\nqualified company, and shall notify the department and the qualified company of\nthe amount of credit the qualified company is eligible to claim.\n(5) The credit allowed by this section for any taxable year shall not exceed the tax\nliability of the  taxpayer for the taxable year. Any credit not used may be carried\nforward to subsequent years.\n(6) The qualified company shall provide to the corporation and the department any\ninformation and documentation requested for the purpose of monitoring the cred it\nestablished by this section.\n(7) The approved company shall maintain records and submit information as required\nby the corporation and the department. The corporation may share information\nprovided by the approved company with the department for the pur pose of\nmonitoring the credit established by this section.\n(8) The corporation may, through the promulgation of administrative regulations in\naccordance with KRS Chapter 13A, establish additional standards or requirements\nfor the administration of this section.\n(9) The credit established by this section shall expire on April 15, 2037, unless\nextended by the General Assembly.","path":["KRS Chapter 141"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56340","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:34Z","sha256":"cfc0c04eef02fb11e723459f3b5be33d74895569565e35ffdb1e3c5b415fac6b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-141.380","next":"us-ky/krs-141.382"},"notice":"GroundRules: Original legal text. Not legal advice."}