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KS SB69

KS SB69
Extending the time period for eligibility for the loan repayment program and the income tax credit for rural opportunity zones, adding down payment assistance and child care reimbursement as program benefit options and expanding eligibility for the income tax credit.


summary

Introduced
01/23/2025
In Committee
03/19/2025
Crossed Over
03/19/2025
Passed
Dead

Introduced Session

2025-2026 Regular Session

Bill Summary

AN ACT concerning economic development; relating to rural opportunity zones; extending the time period for eligibility for the loan repayment program and the income tax credit; adding down payment assistance and child care reimbursement as program benefit options; expanding eligibility for the income tax credit; amending K.S.A. 2024 Supp. 74- 50,223 and 79-32,267 and repealing the existing sections.

AI Summary

This bill extends and expands the Rural Opportunity Zones (ROZ) program in Kansas by five years, until July 1, 2031, and adds two new benefit options for residents. The bill modifies the existing loan repayment program and income tax credit for individuals who move to designated rural counties, now offering three potential benefits: student loan repayment, down payment assistance for first-time homebuyers, and child care reimbursement. The student loan repayment program continues to allow the state and participating counties to split up to $15,000 in student loan payments for eligible residents over five years. The new down payment assistance benefit allows the state and county to contribute up to 3% of a home's purchase price, not exceeding $15,000, for first-time homebuyers. The child care reimbursement benefit enables the state and county to split up to $3,000 per year (maximum $15,000 total) for child care expenses. The bill also expands income tax credit eligibility by creating an additional pathway for individuals who have been domiciled in non-rural Kansas counties for at least three years before moving to a rural opportunity zone. Importantly, a resident can only utilize one of these three benefit programs in a participating county, and the benefits are subject to available appropriations and specific enrollment requirements.

Committee Categories

Budget and Finance

Sponsors (0)

No sponsors listed

Other Sponsors (1)

Assessment and Taxation (Senate)

Last Action

House Referred to Committee on Taxation (on 03/19/2025)

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