{"data":{"id":"us-ky/krs-154.12-2086","jurisdiction":"us-ky","citation":"KRS 154.12-2086","heading":"Skills training investment credit -- Department of Revenue","body":"certification.\n(1) The Bluegrass State Skills Corporation may, in accordance with KRS 154.12 -2084\nto 154.12-2089, award a credit against the Kentucky tax imposed by KRS 141.020\nor 141.040, and KRS 141.0401, to an approved company. The amount of the skills\ntraining investment credit awarded by the Bluegrass State Skills Corporation shall\nbe an amount equal to fifty percent (50%) of the amount of approved costs incurred\nby the approved compan y in connection with its program of occupational upgrade\ntraining or skills upgrade training, the credit amount not to exceed five hundred\ndollars ($500) per employee and, in the aggregate, not to exceed one hundred\nthousand dollars ($100,000) for each app roved company per biennium. The\nBluegrass State Skills Corporation shall only approve one (1) application per\nbiennium for each qualified company.\n(2) The skills training investment credit shall be credited on the tax return of the\napproved company filed f or the fiscal year during which the final authorizing\nresolution is adopted by the Bluegrass State Skills Corporation in accordance with\nKRS 154.12 -2088(6). The skill training investment credits allowed under KRS\n154.12-2084 to 154.12 -2089 shall only be us ed by the approved company that has\nbeen awarded the credits in accordance with KRS 154.12-2084 to 154.12-2089. The\nskills training investment credits provided for in this section shall be applied to both\nthe income tax imposed by KRS 141.020 or 141.040, a nd the limited liability entity\ntax imposed by KRS 141.0401, with the ordering of the credits as provided in KRS\n141.0205. These credits shall be in addition to all other tax credits granted under the\nlaws of the Commonwealth.\n(3) The skills training inves tment credits may be carried forward for three (3)\nsuccessive fiscal years of the approved company if the amount allowable as credits\nexceeds the income tax liability of the approved company in the tax year during\nwhich the final authorizing resolution is adopted by the Bluegrass State Skills\nCorporation; however, thereafter, if the amount allowable as credits exceeds the\nincome tax liability of the approved company, the excess credits shall not be\nrefundable or carried forward to any other fiscal year of t he approved company for\nwhich a tax return of the approved company is to be filed.\n(4) A qualified company shall not be entitled to receive the skills training investment\ncredits if the qualified company requires that the employee reimburse the employer\nor otherwise pay for any costs or expenses incurred in connection with the\noccupational upgrade training or skills upgrade training.\n(5) To the extent that any expenditures of a qualified company constitute approved\ncosts and are the basis for the skills tra ining investment credits under KRS 154.12 -\n2084 to 154.12-2089, these expenditures shall not be eligible as the basis for grants-\nin-aid under Bluegrass State Skills Corporation provisions in KRS 154.12 -204 to\n154.12-208 or the Local Government Economic Deve lopment Program under the\nprovisions of KRS 42.4588 to 42.4595.\n(6) Priority consideration for preliminary approval under KRS 154.12 -2088 shall be\ngiven to qualified companies that the Bluegrass State Skills Corporation determines\nto be high performance co mpanies. A minimum of thirty percent (30%) of the total\nskills training investment credits authorized by the Bluegrass State Skills\nCorporation during any fiscal year shall be awarded to qualified companies that\nhave been designated as high performance com panies by the Bluegrass State Skills\nCorporation. The Bluegrass State Skills Corporation shall establish guidelines and\nstandards for the designation of high performance companies.\n(7) By October 1 of each year, the Department of Revenue shall certify to the Bluegrass\nState Skills Corporation the amount of any skills training investment credits taken\npursuant to KRS 154.12 -2084 to 154.12 -2089 on tax returns filed during the fiscal\nyear ending June 30 of that year.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=2624","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:52Z","sha256":"20e5e44ebe892e9bddfa40864fff1366ff0982f6aaf345aa1611066b3fad88e0","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.12-2084","next":"us-ky/krs-154.12-2087"},"notice":"GroundRules: Original legal text. Not legal advice."}