HOUSE BILL No. 2586*
An Act relating to taxation; allowing credits for
payments to certain port authorities.
Be it enacted by the Legislature of the State of Kansas:
Section 1. (a) For taxable years
2002 through 2021, there shall be
allowed as a credit against the tax liability of a taxpayer imposed
the Kansas income tax act, an amount equal to 100% of the
attributable to the retirement of indebtedness authorized by a
port authority established before January 1, 2002. In no event
total amount of the credits allowed under this section exceed
for any one fiscal year.
(b) Upon certification by the secretary
of revenue of the amount of
any such credit, the director of accounts and reports shall issue
taxpayer a warrant for such amount which shall be deemed to be a
Sec. 2. This act shall take effect and be in force
from and after its
publication in the statute book.
Approved May 13, 2002.