SESSION OF 2024
SUPPLEMENTAL NOTE ON SENATE BILL NO. 376
As Amended by Senate Committee on
Assessment and Taxation

Brief*
SB 376, as amended, would extend the income tax
credit attributable to the retirement of indebtedness
authorized by a single city port authority, currently scheduled
to expire after tax year 2024, through tax year 2029.

Background
The bill was introduced by the Senate Committee on
Assessment and Taxation at the request of WATCO.

Senate Committee on Assessment and Taxation
In the Senate Committee hearing, proponent testimony
was provided by a representative of WATCO. The proponent
generally stated the bill would keep short rail lines open on
the national freight line for select customers in rural Kansas.
Written-only proponent testimony was provided by
representatives of the Kansas Cooperative Council and the
Kansas Grain and Feed Association, stating the bill would
ensure continued service to small Kansas towns.
No other testimony was provided.
The Senate Committee amended the bill to shorten the
extension of the credit sunset from 20 years to 5 years.
____________________
*Supplemental notes are prepared by the Legislative Research
Department and do not express legislative intent. The supplemental
note and fiscal note for this bill may be accessed on the Internet at
http://www.kslegislature.org
Fiscal Information
According to the fiscal note prepared by the Division of
the Budget on the bill, as introduced, the Department of
Revenue indicates enactment of the bill would reduce the
State General Fund by $500,000 in fiscal year 2026 and
thereafter. The Department assumes the maximum credit
would be used for each year it is available. The Department
also indicates it would require $1,365 to implement the bill
and modify the automated system.
Any fiscal effect associated with enactment of the bill is
not reflected in The FY 2025 Governor’s Budget Report.
Taxation; income tax; tax credit; single city port authority


2- 376


Statutes affected:
As introduced: 79-32
As Amended by Senate Committee: 79-32