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 the overall tax liability for individuals. Additionally, the bill repeals the existing section of K.S.A. 2024 Supp. 79-32,117, indicating a comprehensive update to the law governing Kansas adjusted gross income calculations and clarifying the tax treatment of various income sources and deductions.

Moreover, the bill outlines several other modifications to the Kansas tax code, including exclusions for certain income or loss reported on Schedule E of federal tax returns for specific taxable years, and deductions for contributions to family postsecondary education savings accounts and ABLE accounts, with set limits. It also provides tax benefits for armed forces members, such as exemptions for bonuses and educational loan repayments, and includes deductions for unreimbursed travel and medical expenses related to organ donation, as well as contributions to first-time home buyer and adoption savings accounts. The bill will take effect upon publication in the statute book.

Statutes affected:
As introduced: 79-32