Kentucky Lawmakers Approve Bitcoin Miner Incentive Bill
Kentucky legislators have approved a bill that would offer tax incentives to bitcoin miners that set up shop in the state.An overwhelming majority of lawmakers in Kentucky has just approved a bill that seeks to make the state a very attractive option for bitcoin mining operations. The primary bill to receive approval, House Bill 230, seeks to remove some tax obligations from bitcoin miners and is geared toward incentivizing job creation and spurring the growth of the industry. It was passed by a 19-to-two vote by a committee in the Kentucky house.“The bill’s fiscal note estimated its cost....
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The Kentucky House Budget Committee approved a bill in a 19-2 vote to eliminate the sales tax on electricity for use in cryptocurrency mining operations. The bill, designed to attract more miners to the state, is now in the Kentucky Senate for review. Lawmakers Urge Greater Crypto Appeal Despite Purported Costs Motivated by the explosive growth in blockchain technology and the increased spotlight at cryptocurrencies, Kentucky lawmakers are busy crafting legislation designed to appeal to mining operations. House Bill 230, which the House Budget Committee approved on Tuesday, is designed to....
A new law in Kentucky will provide tax exemptions to cryptocurrency mining operations and attract them to the state.
Kentucky needs to attract more crypto mining businesses by offering tax breaks, local lawmakers believe. Lawmakers in Kentucky are looking to impose tax breaks for local cryptocurrency miners.Kentucky lawmakers on Tuesday approved several state tax breaks including House Bill 230, which would remove the sales tax from electricity purchased by local crypto mining operators.According to a report by the Lexington Herald-Leader, Kentucky legislators voted 19 to two for the new measure. The bill’s fiscal note is reportedly estimated to cost the local budget at least $1 million annually. The....
Reps. Rudy and Freeland's bill would exempt crypto miners from paying either Kentucky sales or excise tax.
Amid the intense stimulus relief aid discussion, House Speaker Nancy Pelosi has set a deadline for the White House to come to an agreement on the next stimulus package which provides a second round of stimulus checks for Americans. Meanwhile, the Senate is set to vote on a smaller stimulus bill without direct payments this week. Deadline for Stimulus Negotiations Stimulus packages to help Americans cope with the coronavirus-driven economic crisis have been heavily discussed this week as U.S. lawmakers hope to approve new relief aid before the November presidential election. Six proposed....