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KS SB303
KS SB303Establishing the Kansas legal tender act and providing for an income tax subtraction modification for sales of specie.
summary
Introduced
03/08/2023
03/08/2023
In Committee
01/22/2024
01/22/2024
Crossed Over
Passed
Dead
04/30/2024
04/30/2024
Introduced Session
2023-2024 Regular Session
Bill Summary
AN ACT concerning legal tender; establishing the Kansas legal tender act; reaffirmation of gold and silver coin as legal tender; providing an income taxation subtraction modification for gains from the sale of specie; amending K.S.A. 2022 Supp. 79-32,117 and repealing the existing section.
AI Summary
This bill establishes the Kansas Legal Tender Act, which reaffirms gold and silver coin as legal tender in Kansas. The bill provides an income tax subtraction modification for gains from the sale of "specie" (coin or refined gold/silver bullion). It also specifies that the exchange of one form of legal tender for another, or the purchase, sale, or exchange of specie, does not give rise to any tax liability. The bill amends state law to incorporate these changes to the treatment of specie and legal tender.
Committee Categories
Government Affairs
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Federal and State Affairs (Senate)
Last Action
Senate Died on Calendar (on 04/30/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://kslegislature.org/li/b2023_24/measures/sb303/ |
| Analysis - Supplemental Note: As Amended by Senate Committee | https://kslegislature.org/li/b2023_24/measures/documents/supp_note_sb303_01_0000.pdf |
| BillText | http://kslegislature.org/li/b2023_24/measures/documents/sb303_01_0000.pdf |
| Senate Committee on Federal and State Affairs Report | https://kslegislature.org/li/b2023_24/measures/documents/cr_2024_sb303_s_2648.pdf |
| Analysis - Supplemental Note: As introduced | https://kslegislature.org/li/b2023_24/measures/documents/supp_note_sb303_00_0000.pdf |
| Fiscal Note - Ficsal Note: As introduced | https://kslegislature.org/li/b2023_24/measures/documents/fisc_note_sb303_00_0000.pdf |
| BillText | http://kslegislature.org/li/b2023_24/measures/documents/sb303_00_0000.pdf |
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