HB 81

Bill Subjects

Appropriations Poverty Public Assistance Taxation Taxation, Income--Individual

Abstract

Create a new section of KRS Chapter 205 to define "eligible recipient" "gross income," "taxable year," and "universal basic income"; create the universal basic income fund within the State Treasury and provide that money remaining in the fund at the end of the fiscal year shall not lapse but will be carried forward into the next fiscal year; establish a universal basic income of $1,000 per month payable from the fund to any eligible recipient unless his or her reported gross income exceeds 100% of the median per capita income for his or her county of residence; establish a Kentucky workers' transitional income of $500 per month payable from the fund to any person who was receiving the universal basic income but became ineligible because his or her reported gross income exceeds 100% of the median per capita income of his or her county of residence for up to 24 months or until his or her reported gross income exceeds 200% of the median per capita income of his or her county of residence; require; that receipt of the universal basic income shall not be considered taxable income or be considered in calculating state tax credits or offset any liabilities or preclude the recipient from receiving other public assistance; amend KRS 141.019 to exclude the universal basic income in calculating a taxpayer's adjusted gross income; APPROPRIATION.