Kentucky Legislature Approves Bills Providing Incentives for Crypto Miners

Kentucky's state legislature has given its final approval to two proposed bills that would introduce energy and tax breaks for crypto mining operations.

The first, House Bill 230, now passes to Governor Andy Beshear for final approval following the Senate voting in favor by 29-7 on Monday.
The state's General Assembly had previously approved the bill in a 19-2 vote on March 3.
Under the proposed law, sales tax obligations from electricity purchased for crypto mining purposes will be removed.
Kentucky hopes the bill will make the state an attractive destination for cryptocurrency mining companies as a way to boost jobs and the local economy.
According to General Assembly Representatives Steven Rudy and Chris Freeland, who introduced the bill in January, it would help Kentucky "become a national leader" in crypto mining.
A Senate bill (SB255), focused on providing energy incentives for miners, is also now before the governor having been passed 74-19 last Friday.

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