Tax Code Loopholes To Be Reviewed
Frankfort, KY – Some state lawmakers want to review the many loopholes in the state tax code.
One recent analysis sais the tax exemptions carry a price tag of $571 million a year. This at a time when lawmakers are doubtful they can find enough money for economic development efforts.
Representative Harry Moberly says he intends to have discussions about tax exemptions during the current session of the state legislature. Moberly is chairman of the House Appropriations and Revenue Committee.
Moberly says House Democrats also plan to scrutinize tax incentive programs run by the state Cabinet for Economic Development.
Representative Ruth Ann Palumbo intends to have hearings on the subject. She's chairwoman of the House Economic Development Committe.