The proposed bill establishes the "Veterans' Valor Property Tax Relief Act," which provides an income tax credit or refund for eligible military veterans. Specifically, it allows a credit against the Kansas income tax liability for tax year 2026 and subsequent years, amounting to 50% of the property and ad valorem taxes paid on the taxpayer's principal residence. However, this credit is not available to those who have already received a homestead property tax refund or a credit for senior relief for the same property in the same tax year. If the credit exceeds the taxpayer's income tax liability, the excess amount will be refunded.

Additionally, the bill includes the repeal of K.S.A. 2025 Supp. 79-3606h, which likely pertains to previous tax exemptions for veterans. The Secretary of Revenue is tasked with adopting rules and regulations for the documentation required to claim the credit. The definition of "taxpayer" is specified to include residents who have been honorably discharged from military service and have a 100% permanent and total service-connected disability or a total disability rating based on unemployability.

Statutes affected:
As introduced: 79-3606h
As Amended by Senate Committee: 79-3606h
{As Amended by Senate Committee of the Whole}: 79-3606h
H Sub for: 79-3606h