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KS HB2058
Bill
Status
1/22/2025
Primary Sponsor
Taxation
Click for details
AI Summary
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Raises the income eligibility threshold for the SAFESR (Selective Assistance for Effective Senior Relief) tax credit from 120% of federal poverty level for two persons to $28,000 in household income, effective tax year 2025
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Beginning in tax year 2026, the $28,000 income threshold will be adjusted annually for inflation based on the federal cost-of-living adjustment
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The credit remains at 75% of property and ad valorem taxes paid on a taxpayer's principal residence for eligible seniors age 65 and older
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Taxpayers cannot claim both the SAFESR credit and a homestead property tax refund for the same property in the same tax year
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Excess credit amounts that exceed a taxpayer's income tax liability will be refunded to the taxpayer
Legislative Description
Providing for an increased amount of income for eligibility of individuals for the selective assistance for effective senior relief income tax credit.
Last Action
House Referred to Committee on Taxation
1/22/2025