HB 5 - Amends the State Bourbon Barrel Tax Exemption - Kentucky Key Vote
Tom Smith voted Nay (Concurrence Vote) on this Legislation.
Timeline
- Executive Signed
- March 30, 2023
- House Concurrence Vote Passed
- March 30, 2023
- Senate Bill Passed
- March 30, 2023
- House Bill Passed
- March 13, 2023
- Introduced
- Feb. 22, 2023
Related Issues
Stage Details
Title: Amends the State Bourbon Barrel Tax Exemption
Signed by Governor Andy Beshear
Title: Amends the State Bourbon Barrel Tax Exemption
Vote Smart's Synopsis:
Vote to concur with senate amendments and pass a bill that amends the state bourbon barrel tax exemption.
Highlights:
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Exempts distilled spirits stored or aging in barrels located in a bonded warehouse or premise from the state local “ad valorem” barrel tax for tax assessments made on or after January 1, 2043 (Sec. 1).
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Authorizes local jurisdictions beginning with the 2026 calendar year to impose an additional replacement tax on distilled spirits in addition to any “ad valorem” taxes (Sec. 2).
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Amends the definition of “local jurisdictions” to include all school districts in the state (Sec. 2).
Title: Amends the State Bourbon Barrel Tax Exemption
Vote Smart's Synopsis:
Vote to amend and pass a bill that amends the state bourbon barrel tax exemption.
Highlights:
-
Exempts distilled spirits stored or aging in barrels located in a bonded warehouse or premise from the state local “ad valorem” barrel tax for tax assessments made on or after January 1, 2043 (Sec. 1).
-
Authorizes local jurisdictions beginning with the 2026 calendar year to impose an additional replacement tax on distilled spirits in addition to any “ad valorem” taxes (Sec. 2).
-
Amends the definition of “local jurisdictions” to include all school districts in the state (Sec. 2).
Title: Amends the State Bourbon Barrel Tax Exemption
Title: Amends the State Bourbon Barrel Tax Exemption