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Legislative Updates

2024 Legislative Session

The 60-day Legislative Session began on Tuesday, January 2, 2024. Please see this Session's weekly Legislative Updates below.

  • 2024 Policy Preview

    January 5, 2024

    As the New Year approaches, the CPA profession continues to serve a substantial leadership role in business, tax, and advisory services across the Commonwealth. The 2024 Legislative Session will focus on Kentucky’s next biennial budget with accompanied tax reform discussions. At a national level CPAs continue to discuss multiple pathways to the education, licensure, and experience needed to address the declining number of students entering the profession while balancing the ability of CPAs to practice across state lines. As federal issues like beneficial ownership information reporting and PCAOB oversight intensify, the profession will need to meet a variety of challenges.

  • KYCPA-PAC 101: Kentucky Counts on CPAs

    November 3, 2023

    2023 was another eventful year for the Kentucky General Assembly during the spring Legislative Session, with the passing of various policy reforms. Although state tax issues are typically not addressed during short 30-day Sessions, policymakers made significant modifications to Kentuckys tax code with major impacts on the states business community. From the onset of critical policy decisions, KyCPAs advocacy team remains present and active in the state Capitol. Currently, there are no Kentucky CPAs serving in elected positions either in Frankfort or Washington. Therefore, the Society serves as an objective resource by utilizing the collective expertise and professional guidance of Kentucky CPA practitioners. However, how do state policy reforms connect back to the KyCPA Political Action Committee (KyCPA-PAC)? It would be best to understand what the KyCPA-PAC is, what it does and how it plays an important role in the Kentucky policy process.

  • 2023 legislative review

    April 28, 2023

    Thursday, March 30, marked the end of the 30-day Legislative Session of the Kentucky General Assembly with the passage of significant policy reforms, technical corrections, and a new pass-through entity tax. With supermajorities in both Chambers of the General Assembly, Republicans passed overrides on multiple Gubernatorial vetoes. However, differences were not limited to party affiliation alone. Kentucky House of Representatives and Senate Republicans differed on various proposals, including sports wagering, medical cannabis, illegal gaming machines, education policies, and the phase out of the distilled spirits property tax. Political party differences aside, many bipartisan legislators and the Governor agreed upon many significant reforms in addition to an unemployment insurance cleanup, technical tax fixes, and a reduction of the individual income tax rate from 4.5 percent to 4 percent, effective January 1, 2024. Read on for a full review

  • CPA Day at the Capitol recap

    February 27, 2023

    On Wednesday, February 8, KyCPA held its annual CPA Day at the Capitol with approximately 30 CPA members traveling from across the Commonwealth to participate in the event.

  • 2023 legislative session preview

    December 20, 2022

    The upcoming 2023 Legislative Session will begin on Tuesday, January 3, 2023, kicking off the 30-day “short” Session that is scheduled to end on March 30, 2023. Kentucky legislators will convene in the first week of January, take a break, and then reconvene at the beginning of February to finish the Session.

  • KyCPA-PAC: Kentucky counts on CPAs

    November 14, 2022

    For this issue of KyCPA’s 2022 Journal, P. Anthony Allen provide a recap of KyCPA’s 2022 policy wins and explain how your investments through membership and via contributions to the Political Action Committee (PAC) impact the laws, rules, and regulations that affect Kentucky CPAs.

  • 2022 legislative review

    April 22, 2022

    Thursday, April 14, 2022, marked the end of the 60-day Regular Session of the Kentucky General Assembly with the passage of significant legislative reforms, tax modernization, and the next two-year budget for the Commonwealth. With supermajorities in both chambers of the General Assembly, Republicans passed overrides on multiple Gubernatorial vetoes; however, differences were not limited to party affiliation alone. House and Senate Republicans compromised on various budget proposals, tax reform, and re-districting bills. Political differences aside, the General Assembly and the Governor agreed upon non-controversial measures, including tornado aid, unemployment insurance relief, and CPA scholarship opportunities.

  • CPA Day at the Capitol recap

    February 25, 2022

    On February 16, 2022, KyCPA's Day at the Capitol wrapped up with a successful turnout of Society members, key legislators, and policy staff. Approximately 50 legislators and staff attended the grab-and-go breakfast in the Kentucky Capitol Annex Building with visits from House Republican Leadership, House Appropriations & Revenue (A&R) Committee legislators and staff and over 20 members of KyCPA.