This bill amends K.S.A. 79-32,263 to enhance the selective assistance for effective senior relief (SAFESR) credit for income taxation. The key changes include increasing the percentage of property and ad valorem taxes that can be credited against tax liability for eligible seniors. Specifically, for tax years 2011 through 2024, the credit is set at 75% for seniors aged 65 and older with household incomes at or below 120% of the federal poverty level for two persons. Starting in tax year 2025, the credit remains at 75% but is adjusted for seniors with household incomes at or below $28,000. Additionally, for tax year 2026 and beyond, the income threshold will be subject to cost-of-living adjustments.

The bill also includes provisions that limit the credit to the amount of property taxes paid and stipulates that taxpayers who have received a homestead property tax refund cannot claim this credit. If the credit exceeds the taxpayer's income tax liability, the excess will be refunded. The bill mandates the secretary of revenue to establish rules for filing supporting documents for the credit claims. Furthermore, the existing section of K.S.A. 79-32,263 is repealed, indicating a complete overhaul of the previous provisions related to this tax credit.

Statutes affected:
As introduced: 79-32