The Kansas Legal Tender Act establishes gold and silver coins as legal tender in the state, reaffirming their use for the payment of debts and taxes. The bill defines "legal tender" and "specie," which includes coins and refined bullion containing gold or silver. It ensures that no specie or legal tender will be classified as personal property for taxation or regulatory purposes, and it stipulates that exchanging different forms of legal tender will not incur tax liabilities. Additionally, the act prohibits individuals from being compelled to accept or tender specie unless explicitly stated by statute or contract. The bill also amends K.S.A. 2025 Supp. 79-32,117 to allow a subtraction modification for income taxation related to gains from the sale of specie, enabling individuals to exclude certain gains from their federal adjusted gross income when calculating their Kansas adjusted gross income. The existing section of K.S.A. 2025 Supp. 79-32,117 is repealed as part of this update.

In addition to the legal tender provisions, the bill introduces modifications to the Kansas tax code, particularly regarding income exclusions and deductions for taxpayers. It allows claims for refunds or amended returns related to specific provisions to be filed until April 15, 2025, and specifies limits on contributions to first-time home buyer savings accounts and adoption savings accounts. Taxpayers may also elect to apply early contributions to the previous taxable year. The bill details the treatment of net operating losses and specifies favorable tax treatment for certain income sources, including livestock sales and benefits under the federal social security act. Overall, the intent of the bill is to provide tax relief and clarify the treatment of various income sources for Kansas taxpayers, with specific deadlines and limits outlined for compliance.

Statutes affected:
As Introduced: 9-555, 9-556, 9-558, 9-572, 9-589
As Amended by House Committee: 9-555, 9-556, 9-558, 9-572, 9-589
As Amended by Senate Committee: 9-555, 9-556, 9-558, 9-572, 9-589
Conference Committee Report - Fri, Apr 10, 2026: 79-32, 18-ccr
Enrolled: 79-32
Conference Committee Report - Fri, Apr 10, 2026 - Amd to HB2515: 79-32, 18-ccr
As introduced: 9-555, 9-556, 9-558, 9-572, 9-589