The bill amends the Kansas income tax law to extend the availability of tax credits for contributions made to the Eisenhower Foundation and the Friends of Cedar Crest Association. Specifically, it changes the eligibility period for these credits from taxable years ending before January 1, 2026, to those ending before January 1, 2036. The bill allows taxpayers to claim a credit equal to 50% of their contributions, with a maximum credit of $25,000 for individual taxpayers and $50,000 for corporate taxpayers. The total amount of credits claimed in a fiscal year is capped at $350,000.

Additionally, the bill clarifies that the credit cannot exceed the taxpayer's income or privilege tax liability after accounting for other allowable credits. It also specifies that taxpayers cannot carry over any unused credit beyond their tax liability for the year in which the contributions are made. The existing sections of the law related to these credits are repealed and replaced with the new provisions outlined in the bill.

Statutes affected:
As introduced: 79-32
As Amended by House Committee: 79-32