The Kentucky Chamber’s wrap-up of the 2023 Kentucky General Assembly and what it means to businesses is now available for download. The Chamber’s Results for Business publication contains bill descriptions, details priority legislation that passed, includes a legislative voting record, and more.
Some of the key highlights from this year’s session include:
The Chamber’s advocacy resulted in $1.553 billion in savings for Kentucky employers, equating to savings of $921 per employee or $23,000 for each employer in the Commonwealth.
Lawmakers passed major legislation surrounding taxes, including a reduction in individual income taxes and the creation of an optional pass-through entity tax for business owners to reduce their federal income tax burden. The Chamber also successfully advocated against several harmful tax policies.
The 2023 General Assembly also passed legislation that supports signature industries by enacting sports wagering, banning unregulated gray machines, and setting a phase-out to the bourbon barrel tax.
View the document below to find out what passed, what didn’t, and what it means to your bottom line. You can also view and download Results for Business here.