July 9, 2021 9:15am
New Kentucky Laws Take Effect
More than 20 new laws went into effect in Kentucky last week, 90 days following the adjournment of the General Assembly. That includes many of GLI’s legislative priorities that passed during the 2021 session. Below is a list of some of those key priorities that took effect on June 29th, 2021:
- PPP Deductibility – House Bill 278 was a top priority for GLI and allows businesses to deduct expenses paid with forgiven PPP loans from their overall tax burden. This legislation protects businesses from an additional obstacle as they work to recover from the economic impact of the pandemic.
- Felony Theft Threshold – As a key priority for the criminal justice workstream of GLI’s Business Council to End Racism, this bill raised the threshold of felony theft from $500 to $1000. This new law will bring Kentucky in line with 45 other states and minimize incarceration rates in our state while maximizing workforce participation.
- Commission on Race and Access to Opportunity – Another Business Council to End Racism priority, the creation of this commission is an important first step in creating effective public policy solutions to advance racial equity and increase access to opportunity throughout the Commonwealth.
- Education Opportunity Accounts (EOA’s) – Passage of this bill was an important step to increase educational choices for Kentucky families and provide support for students to access educational needs. This new law was many years in the making for GLI and school choice advocates and will increase education for Greater Louisville’s future workforce.
Check out the GLI’s 2021 Legislative Outcomes report for a full recap of major wins and missed opportunities here.