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KS HB2387
Bill
Status
2/17/2025
Primary Sponsor
Taxation
Click for details
AI Summary
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Extends the expiration date for income tax credits for contributions to the Eisenhower Foundation and Friends of Cedar Crest Association from January 1, 2026 to January 1, 2036
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Credit equals 50% of contributions made during the taxable year, applicable to both Kansas income tax and privilege tax on financial institutions
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Individual taxpayers may claim up to $25,000 per year; corporations and financial institutions may claim up to $50,000 per year
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Total aggregate credits for each program are capped at $350,000 per fiscal year
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Unused credits cannot be carried forward to future tax years
Legislative Description
Extending the number of years of availability of the income tax credit for contributions to friends of cedar crest association and the Eisenhower foundation.
Last Action
House Committee Report recommending bill be passed as amended by Committee on Taxation
3/17/2025