The bill proposes amendments to property taxation laws in Kansas, specifically regarding exemptions for certain personal property. It introduces exemptions for off-road vehicles, motorized bicycles, trailers (weighing 15,000 pounds or less), marine equipment, and aircraft from all property or ad valorem taxes. The definitions of "aircraft" and "marine equipment" are clarified, and the bill specifies that these exemptions will apply to all taxable years commencing after December 31, 2025. Additionally, it amends existing statutes K.S.A. 79-213 and K.S.A. 79-5501, which govern the process for requesting property tax exemptions.

Furthermore, the bill outlines the procedures for property owners to request exemptions, including the requirement to file an initial request with the county appraiser and the subsequent review process. It also establishes that watercraft will be appraised at fair market value until January 1, 2026, after which all watercraft will be exempt from property taxes. The bill repeals the existing sections of K.S.A. 79-213 and K.S.A. 79-5501, effectively replacing them with the new provisions.

Statutes affected:
As introduced: 79-213, 79-5501
As Amended by Senate Committee: 79-213, 79-5501