The bill amends existing 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 expiration date for these credits from January 1, 2026, to January 1, 2036. The credits allow taxpayers to receive a deduction 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 credits cannot exceed the taxpayer's total tax liability after accounting for other allowable credits, and any unused credit cannot be carried over to future tax years. The bill repeals the previous sections of the law that governed these credits, effectively replacing them with the new provisions outlined in the amendments. The act will take effect upon publication in the statute book.

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