SB 183--
By Committee on Assessment and Taxation

AN ACT relating to property taxation; concerning the exemption there- from of certain business machinery and equipment; amending K.S.A. 1996 Supp. 79-201w and repealing the existing section. Be it enacted by the Legislature of the State of Kansas: Section 1. K.S.A. 1996 Supp. 79-201w is hereby amended to read as follows: 79-201w. The following described property, to the extent speci- fied by this section, shall be exempt from all property or ad valorem taxes levied under the laws of the state of Kansas: (a) Any item of machinery, equipment, materials and supplies which, except for the operation of the provisions of this section, would be re- quired to be listed for the purpose of taxation pursuant to K.S.A. 79-306, and amendments thereto, and which is actually and regularly used exclu- sively for business purposes, or in the conduct of activities by an entity not subject to Kansas income taxation pursuant to K.S.A. 79-32,113, and amendments thereto, whose original retail cost when new is $250 or less. As used in this subsection and for the purposes of class 2(E) of subsection (b) of section 1 of article 11 of the Kansas constitution, ``retail cost when new'' means the total cost to the purchaser less the amount of any trans- actional taxes, installation costs and freight or transportation charges in- cluded in such cost. (b) The provisions of this section shall apply to all taxable years com- mencing after December 31, 1995 1996. Sec. 2. K.S.A. 1996 Supp. 79-201w is hereby repealed. Sec. 3. This act shall take effect and be in force from and after its publication in the statute book.