The bill amends K.S.A. 2024 Supp. 79-32,117 to introduce a subtraction modification for payments made by taxpayers as members of a health care sharing ministry, allowing these payments to be deducted from federal adjusted gross income when calculating Kansas adjusted gross income. This change aims to reduce tax liability for individuals involved in such ministries. Additionally, the bill repeals the existing section of K.S.A. 2024 Supp. 79-32,117, signifying a significant update to the law governing income calculations in Kansas and reflecting a trend towards recognizing alternative health care funding mechanisms in state tax policy.

Moreover, the bill outlines various other tax modifications, including exclusions for certain income reported on Schedule E, contributions to family postsecondary education savings accounts and ABLE accounts, and exemptions for military bonuses, social security benefits, and specific retirement benefits. It also addresses the treatment of net gains from livestock sales, unreimbursed organ donation expenses, and contributions to first-time home buyer savings accounts, while setting limits on contributions and the ability to carry forward unused amounts. The bill will take effect upon publication in the statute book.

Statutes affected:
As introduced: 79-32