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KS SB69
Bill
Status
3/19/2025
Primary Sponsor
Assessment and Taxation
Click for details
AI Summary
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Extends the Rural Opportunity Zone program eligibility deadline from July 1, 2026 to July 1, 2031, allowing new participants to enroll through June 30, 2031
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Adds two new benefit options beginning January 1, 2026: down payment assistance (up to 3% of home purchase price, maximum $15,000) for first-time homebuyers, and child care reimbursement (up to $3,000 per year, maximum $15,000 over five years)
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Expands income tax credit eligibility to include Kansas residents who move from non-rural opportunity zone counties after living there for at least three years, in addition to out-of-state residents
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Requires costs for all benefits to be split equally between the state and participating county, with counties able to authorize employers, municipalities, or other organizations to pay the county's share
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Limits eligible individuals to receiving only one of the three available program benefits (student loan repayment, down payment assistance, or child care reimbursement)
Legislative Description
Extending the time period for eligibility for the loan repayment program and the income tax credit for rural opportunity zones, adding down payment assistance and child care reimbursement as program benefit options and expanding eligibility for the income tax credit.
Last Action
House Referred to Committee on Taxation
3/19/2025