Bill > HB2090

This bill establishes the Kansas Employee Emergency Savings Account (KEESA) program, which aims to help employers support their employees' financial security by creating a voluntary emergency savings program. The program, which will run from 2025 through 2027, allows eligible employers (businesses with 250 or fewer employees) to help employees set up savings accounts through payroll deductions. Key features include: employers must make an initial deposit of at least $50 for participating employees, employees can voluntarily contribute through payroll deductions, and the accounts must be federally insured savings accounts with online banking access. The bill provides tax incentives for employers, offering a tax credit of 50% for initial deposits (up to $50 per employee) and 25% for additional matching deposits (up to $325 per employee). Additionally, the bill allows employees to subtract up to $1,500 (or $3,000 for married couples filing jointly) of their payroll contributions to these emergency savings accounts from their state income taxes. The program also requires employers to provide financial literacy tools and annual statements to participating employees, with the goal of helping workers build emergency savings, increase financial security, and avoid high-cost borrowing.

Business and Industry

https://kslegislature.gov/li/b2025_26/measures/hb2090/