The bill establishes a one-time, nonrefundable vehicle registration property tax credit of $250 for eligible vehicles during the fiscal year 2027, which runs from July 1, 2026, to June 30, 2027. This credit will be applied against the property tax owed at the time of vehicle registration, registration renewal, or payment of personal property taxes. Each vehicle is eligible for only one credit during this fiscal year, and any excess credit amount that exceeds the tax liability will not be refunded to the taxpayer. The bill also outlines the responsibilities of the county treasurer and the secretary of revenue in documenting and certifying the amounts of these credits.

Additionally, the bill establishes a vehicle registration property tax credit fund within the state treasury, which will be administered by the secretary of revenue. Expenditures from this fund will be used to pay a portion of the taxes levied under specific Kansas statutes. The bill defines "vehicle" to include various types of vehicles such as buses, motorcycles, passenger vehicles, recreational vehicles, trailers, and trucks, all of which must be taxed under specified provisions. The act will take effect upon its publication in the Kansas register.