The bill amends K.S.A. 79-5a02, which governs the reporting requirements for public utilities in Kansas. It mandates that every public utility must submit a written return to the director of property valuation by March 20 each year, detailing all necessary information for property appraisal and value apportionment. If a utility fails to comply, the director will notify the attorney general, who will take action to enforce compliance. Additionally, the bill allows for a review or audit of a public utility's property valuation if there is a decrease of more than 5% in the total appraised value compared to the previous tax year. Such audits can be requested by any governmental body with authority to levy property taxes and can cover the three prior tax years.

Furthermore, the bill repeals the existing K.S.A. 79-5a02, indicating a significant change in the legal framework governing public utility property valuation in Kansas. The act will take effect upon its publication in the statute book, ensuring that the new provisions are implemented promptly.

Statutes affected:
As introduced: 79-5a02