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KS SB227
Bill
AI Summary
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Establishes a 25% tax credit for historic structure restoration in cities over 50,000 population when expenditures are between $5,000 and $50,000
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Increases the tax credit from 30% to 40% for historic restoration projects in cities over 50,000 population when expenditures are $50,000 or more
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Provides a 40% tax credit for historic restoration in cities, townships, or unincorporated areas with populations of 50,000 or less when expenditures are $5,000 or more
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Disqualifies taxpayers from receiving the credit if they or any shareholder, partner, or member has outstanding tax liability owed to Kansas or its political subdivisions
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New tax credit amounts apply to qualified rehabilitation plans placed into service on or after July 1, 2025
Legislative Description
Providing for different credit percentages for the tax credit for expenditures for the restoration and preservation of historic structures based on city populations and the amount of the expenditures.
Last Action
Senate Approved by Governor on Tuesday, April 8, 2025
4/10/2025