This bill amends existing Kansas tax law regarding property taxation and income tax related to carbon dioxide capture and sequestration. Specifically, it disqualifies property from the carbon dioxide capture and sequestration property tax exemption if it is used to inject animal manure into the ground. Additionally, it removes the eligibility for the accelerated depreciation deduction for machinery and equipment used for the same purpose. The bill repeals the previous sections of K.S.A. 79-233 and K.S.A. 79-32,256, which included provisions that were no longer applicable.

The amendments clarify that the property tax exemption and income tax deductions for carbon dioxide capture and sequestration do not apply to any property or equipment involved in the injection of animal manure. This change aims to ensure that tax benefits are reserved for activities directly related to carbon dioxide management rather than agricultural practices involving animal waste. The bill will take effect upon its publication in the statute book.

Statutes affected:
As introduced: 79-233, 79-32, 55-1637