HB 663

Create a new section of KRS Chapter 134, relating to collection of taxes to establish a quarterly installment payment program; define terms; provide installment payment calculation guidelines; require specific property tax information to be sent to the taxpayer through notifications or made accessible through an electronic system; allow an administrative fee up to 3%; disallow 2% discount for early payment of taxes if taxes paid under quarterly installment payment program; prohibit collection of penalties and interest on installment payments; require the Department of Revenue to promulgate administrative regulations; establish penalties for noncompliance; amend KRS 133.220 to require the sheriff or collector to include specific tax payment information on tax notices; amend KRS 134.015 to conform.