This bill amends K.S.A. 79-1437d concerning property taxation and the real estate sales validation questionnaire. It introduces a provision that excludes buyer's premiums, charges, or fees paid to auctioneers or auction companies from the sale price of properties purchased at auction. These premiums must be separately stated in writing and not received by the seller to qualify for this exclusion. Additionally, the bill modifies the process for proposing changes to the real estate sales validation questionnaire, allowing the director of property valuation to implement changes if the legislature does not act on them within 60 days.

The bill also repeals the existing section of K.S.A. 79-1437d, streamlining the legal framework surrounding property sales validation. The changes aim to clarify the information required in the questionnaire while ensuring that auction-related costs do not inflate the sale price for property valuation and taxation purposes. The act will take effect upon its publication in the statute book.

Statutes affected:
As introduced: 79-1437d