KS HB2469

Expands the existing 50% tax credit for qualified railroad track maintenance expenditures (available 2022-2031) to apply against insurance premium taxes, privilege fees under K.S.A. 40-252, and the privilege tax on financial institutions, in addition to state income tax.

Broadens credit transferability by allowing unused credits to be transferred to any individual or entity subject to these taxes, rather than only to "eligible customers" or "eligible vendors" as previously restricted.

Maintains existing credit caps: $5,000 per mile of railroad track owned or leased in Kansas, $5,000 per rail siding adjacent to class II or class III railroads, and a total annual statewide cap of $8,720,000.

Unused credits may be carried forward for up to five years and transferred within five years of the taxable year for which credits were originally allowed; credits remain non-refundable.

Amends K.S.A. 2025 Supp. 79-32,297 and takes effect upon publication in the statute book.