This bill amends K.S.A. 2025 Supp. 74-8133 to extend the sunset for the angel investor tax credit from 2026 to 2031. It allows a tax credit of up to 50% of an angel investor's cash investment in qualified Kansas businesses for tax years 2021 and beyond. The bill also sets limits on the amount of tax credits that can be claimed, capping them at $100,000 for a single Kansas business and $350,000 per investor in a single year. Additionally, it specifies that the total amount of tax credits allowed will increase incrementally each year, reaching $8,000,000 for tax year 2026 and continuing through 2031.

Furthermore, the bill includes provisions for the transfer of tax credits, allowing investors without a current tax liability to transfer their credits to other individuals. The administration costs associated with the act will be covered by fees from qualified Kansas businesses and investors. The existing section of K.S.A. 2025 Supp. 74-8133 is repealed, and the new provisions will take effect upon publication in the statute book.

Statutes affected:
As introduced: 74-8133