The bill amends the Kansas K-12 students scholarship program act, previously known as the "tax credit for low income" program, by removing references to "low income" and redefining eligibility criteria. The new definition of "eligible student" includes children from families with incomes up to 250% of federal poverty guidelines and those enrolled in public schools with low achievement scores. The bill allows educational scholarships of up to $8,000 per school year and outlines the responsibilities of scholarship granting organizations, including compliance with reporting and auditing requirements.

Additionally, the bill modifies the tax credit structure for contributions to scholarship granting organizations, increasing the eligible tax credit percentage from 70% to 100% for tax years starting after December 31, 2024, and raising the total credit limit per taxpayer from $10 million to $20 million. It introduces a mechanism to increase the credit limit by 25% if claims exceed 75% of the established limit and allows taxpayers to carry over excess credits to future years. The bill also mandates the secretary to adopt rules for filing supporting documents for claimed credits and repeals several existing statutes, indicating a comprehensive overhaul of the current tax credit system for scholarship organizations. The act will take effect upon publication in the statute book.

Statutes affected:
As Introduced: 72-4351, 72-4352, 72-5132, 72-4353, 72-4354, 72-4355, 72-4356, 72-4357
As introduced: 72-4351, 72-4352, 72-5132, 72-4353, 72-4354, 72-4355, 72-4356, 72-4357