[As Amended by House Committee of the Whole]

          Session of 1998
By Representatives Gregory, Boston, Cook, Dahl, Faber, Franklin, Free-
                born, Horst, Howell, Jennison, Phill Kline, Landwehr, Mason, Mayans,
                Mays, Osborne, Palmer, Powell, Powers, Presta, Shallenburger, Shore,
                Shultz, Tanner, Toplikar, Vining, Wagle and Weber
          13             AN ACT providing for Kansas tax overpayment rebates.
15       Be it enacted by the Legislature of the State of Kansas:
16           Section 1. (a) In any year in which the sum of the amount by which
17       the actual general fund receipts for the fiscal year ending in such year
18       exceed the joint estimate of revenue to the state general fund prepared
19       pursuant to K.S.A. 75-6701, and amendments thereto, on or before April
20       4 of such calendar year as adjusted by the estimate prepared pursuant to
21       subsection (b) of K.S.A. 75-6701, and amendments thereto, and the
22       amount by which such estimate of revenue for the next following fiscal
23       year prepared on or before December 4 of such calendar year exceed
24       such estimate for such fiscal year prepared on or before April 4 of such
25       calendar year as adjusted pursuant to subsection (b) of K.S.A. 75-6701,
26       and amendments thereto, exceeds $50,000,000, there shall be rebated to
27       all income taxpayers the amount of such revenue in excess of $25,000,000.
28       The amount of such rebate that each income taxpayer shall be entitled is
29       equal to the proportion thereof that such taxpayer's paid liability of the
30       preceding income tax year bears to all taxpayers paid liability of such year,
31       except that no taxpayer shall receive less than a $5 rebate amount.
32           (b) On or before December 15 of any year to which subsection (a)
33       applies, the secretary of revenue shall certify to the director of accounts
34       and reports the name and last known address of the income taxpayer, the
35       amount of the rebate and such other information as the director may
36       require. Upon receipt of such certification, the director of accounts and
37       reports shall issue a warrant on the state treasurer for the payment to the
38       taxpayer from the state general fund. No such warrant shall be valid after
39       180 days after its date of issuance.
40           (c) Any rebate made to any taxpayer pursuant to the provisions of this
41       section shall be exempt from taxation under the Kansas income tax act.
42       [such amount shall be transferred from the state general fund to
43       the state debt reduction fund.

HB 2828--Am. by HCW


  1           [(b) There is hereby established in the state treasury the state
  2       debt reduction fund which shall be administered by the secretary
  3       of revenue. All expenditures from the state debt reduction fund
  4       shall be for the purposes providing funding for retirement or de-
  5       feasement of bonds issued for programs and capital improvement
  6       projects for state agencies and shall be made in accordance with
  7       appropriation acts upon warrants of the director of accounts and
  8       reports issued pursuant to vouchers approved by the secretary of
  9       revenue or the secretary's designee.]
10           Sec. 2. This act shall take effect and be in force from and after its
11       publication in the statute book.