This bill amends the existing tax credit provisions for the restoration and preservation of historic structures in Kansas, specifically outlined in K.S.A. 2024 Supp. 79-32,211. The amendments introduce different credit percentages based on the population of the city where the historic structure is located, with cities over 50,000 population receiving a 25% credit for expenditures between $5,000 and $50,000, and a 40% credit for expenditures of $50,000 or more. For cities with populations of 50,000 or less, a 40% credit is available for expenditures of $5,000 or more. The bill also clarifies the definitions of "qualified expenditures," "qualified historic structure," and "qualified rehabilitation plan," while repealing the previous version of the statute.

Additionally, the bill allows for the transfer of tax credits between parties, stipulating that the assignor must notify the cultural resources division of the state historical society within 90 days of the transfer. The amendments will apply to qualified rehabilitation plans placed into service on or after July 1, 2025. The bill also includes provisions for the verification of tax delinquencies before issuing tax credits, ensuring that any outstanding taxes owed by the qualified taxpayer are addressed before credits are granted.

Statutes affected:
As introduced: 79-32
As Amended by Senate Committee: 79-32
As Amended by House Committee: 79-32
{As Amended by House Committee of the Whole}: 79-32
Enrolled: 79-32