Home >> Statutes >> Back

Click to open printable format in new window.Printable Format
 | Next

74-50,208. Same; income tax credit for contributions by program contributors. (a) A program contributor shall be allowed a credit against state income tax imposed under the Kansas income tax act in an amount not to exceed 75% of the contribution amount. If the amount of the credit allowed by this section exceeds the taxpayer's income tax liability imposed under the Kansas income tax act, such excess amount shall be refunded to the taxpayer. No credit pursuant to this section shall be allowed for any contribution made by a program contributor which also qualified for a community services tax credit pursuant to the provisions of K.S.A. 79-32,195 et seq., and amendments thereto.

(b) The administration of the community-based organization, with the cooperation of the participating financial institutions, shall submit the names of contributors and the total amount each contributor contributes to the individual development account reserve fund for the calendar year. The secretary of revenue shall determine the date by which such information shall be submitted to the department of revenue by the local administrator.

(c) The total tax credits authorized pursuant to this section shall not exceed $500,000 in any fiscal year.

(d) The provisions of this section shall be applicable to all taxable years commencing after December 31, 2014.

History: L. 2005, ch. 104, § 8; L. 2011, ch. 99, § 1; L. 2012, ch. 135, § 5; L. 2015, ch. 99, § 23; July 1.

 | Next

2020 Amended and Repealed Statutes

Information for Special Session 2020

4/27/2021 Meeting Notice Agenda
4/1/2021 Meeting Notice Agenda
3/10/2021 Meeting Notice Agenda
12/30/2020 Meeting Notice Agenda
11/19/2020 Meeting Notice Agenda
9/16/2020 Meeting Notice Agenda
4/2/2020 Meeting Notice Agenda
3/29/2020 Meeting Notice Agenda
3/27/2020 Meeting Notice Agenda
3/24/2020 Meeting Notice Agenda

LCC Policies

2020 Interim Committee Assignments
Chapter 72 Statute Transfer List
Kansas School Equity & Enhancement Act
Gannon v. State
General Information, Legal Analysis & Research
2019 Amended & Repealed Statutes
2018 Amended & Repealed Statutes
2017 Amended & Repealed Statutes
2016 Amended & Repealed Statutes
2015 Amended & Repealed Statutes
2014 Amended & Repealed Statutes
2013 Amended & Repealed Statutes

Session Laws

Kansas Legislature
Administrative Services
Division of Post Audit
Research Department