Session of 1999
HOUSE BILL No. 2055
By Representative Larkin
9 AN ACT relating to income tax; allowing a credit therefrom for property
10 tax associated with certain swine production facilities.
12 Be it enacted by the Legislature of the State of Kansas:
13 Section 1. (a) For all taxable years commencing after December 31,
14 1998, there shall be allowed as a credit against the tax liability of a resident
15 individual, partnership or family farm corporation, as defined by K.S.A.
16 17-5903, and amendments thereto imposed under the Kansas income tax
17 act, an amount equal to 50% of the property tax levied for property tax
18 year 1999, and all such years thereafter, actually and timely paid during
19 an income tax year upon real and personal property comprising a swine
20 production facility the production from which is not exclusively sold,
21 pledged or otherwise transferred to another entity. If the amount of such
22 tax credit exceeds the taxpayer's income tax liability for the taxable year,
23 the amount thereof which exceeds such tax liability shall be refunded to
24 the taxpayer. If the taxpayer is a partnership or a family farm corporation,
25 the credit provided by this section shall be claimed by the shareholders
26 of such corporation or the partners of such partnership in the same man-
27 ner as such shareholders or partners account for their proportionate
28 shares of the income or loss of the corporation or partnership.
29 (b) As used in this section, "swine production facility" means the land
30 structures and related equipment used for housing, breeding, farrowing
31 or feeding of swine.
32 Sec. 2. This act shall take effect and be in force from and after its
33 publication in the statute book.