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Bill > HB2465

KS HB2465

KS HB2465
Enacting the adoption savings account act allowing individuals to establish adoption savings accounts with certain financial institutions, providing eligible expenses, requirements and restrictions for such accounts and establishing addition and subtraction modifications for contributions to such accounts under the Kansas income tax act, increasing the income tax credit amount for adoption expenses, establishing an income, privilege and premium tax credit for contributions to eligible charitable

summary

Introduced
03/16/2023
In Committee
02/21/2024
Crossed Over
03/29/2023
Passed
04/05/2024
Dead
Vetoed
04/25/2024
Veto Overridden
04/29/2024

Introduced Session

2023-2024 Regular Session

Bill Summary

AN ACT concerning taxation; relating to adoption expenses; enacting the adoption savings account act; allowing individuals to establish adoption savings accounts with certain financial institutions; providing eligible expenses, requirements and restrictions for such accounts; requiring the secretary of revenue to adopt certain rules and regulations; granting nonexclusive marketing authority to the state treasurer; establishing addition and subtraction modifications for contributions to such accounts under the Kansas income tax act; increasing the income tax credit amount for adoption expenses; relating to pregnancy resource centers and residential maternity facilities; establishing an income, privilege and premium tax credit for contributions to eligible charitable organizations operating pregnancy centers or residential maternity facilities; providing for a sales tax exemption for purchases by pregnancy resource centers and residential maternity facilities; amending K.S.A. 79-32,202a and K.S.A. 2023 Supp. 79-32,117 and 79-3606 and repealing the existing sections.

AI Summary

This bill enacts the adoption savings account act, allowing individuals to establish adoption savings accounts with certain financial institutions to pay for eligible expenses related to the adoption of a child. The bill provides requirements and restrictions for such accounts, including contribution limits, and establishes addition and subtraction modifications for contributions under the Kansas income tax act. The bill also increases the income tax credit amount for adoption expenses and establishes an income, privilege and premium tax credit for contributions to eligible charitable organizations operating pregnancy centers or residential maternity facilities.

Committee Categories

Budget and Finance

Sponsors (0)

No sponsors listed

Other Sponsors (1)

Taxation (House)

Last Action

Senate Motion to override veto prevailed; Yea: 29 Nay: 7 (on 04/29/2024)

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Document Type Source Location
State Bill Page http://kslegislature.org/li/b2023_24/measures/hb2465/
BillText http://kslegislature.org/li/b2023_24/measures/documents/hb2465_enrolled.pdf
Conference Committee Report https://kslegislature.org/li/b2023_24/measures/documents/ccr_2024_hb2465_s_3954.pdf
Analysis - Conference Committee Report Brief https://kslegislature.org/li/b2023_24/measures/documents/ccrb_hb2465_02_04042024_tax1.pdf
Conference Committee Report https://kslegislature.org/li/b2023_24/measures/documents/ccr_2024_hb2465_s_3920.pdf
Analysis - Supplemental Note: {As Amended by Senate Committee of the Whole} https://kslegislature.org/li/b2023_24/measures/documents/supp_note_hb2465_02_0000.pdf
BillText http://kslegislature.org/li/b2023_24/measures/documents/hb2465_02_0000.pdf
Senate Floor Amendment (Committee of the Whole - Motion to Amend - Offered by Senator Holland) https://kslegislature.org/li/b2023_24/measures/documents/fa_2024_hb2465_s_3608.pdf
Senate Floor Amendment (Committee of the Whole - Motion to Amend - Offered by Senator Holland) https://kslegislature.org/li/b2023_24/measures/documents/fa_2024_hb2465_s_3594.pdf
BillText http://kslegislature.org/li/b2023_24/measures/documents/hb2465_01_0000.pdf
Senate Committee on Assessment and Taxation Report https://kslegislature.org/li/b2023_24/measures/documents/cr_2024_hb2465_s_3319.pdf
Analysis - Supplemental Note: As Amended by Senate Committee https://kslegislature.org/li/b2023_24/measures/documents/supp_note_hb2465_01_0000.pdf
House Committee on Taxation Report https://kslegislature.org/li/b2023_24/measures/documents/cr_2023_hb2465_h_1854.pdf
Analysis - Supplemental Note: As introduced https://kslegislature.org/li/b2023_24/measures/documents/supp_note_hb2465_00_0000.pdf
Fiscal Note - Ficsal Note: As introduced https://kslegislature.org/li/b2023_24/measures/documents/fisc_note_hb2465_00_0000.pdf
BillText http://kslegislature.org/li/b2023_24/measures/documents/hb2465_00_0000.pdf
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