Bill > SB227

This bill modifies the tax credit for restoration and preservation of historic structures in Kansas by adjusting the credit percentages based on city population and expenditure amounts. Specifically, for structures located in cities with more than 50,000 residents, the bill changes the tax credit from 25% to 25% for expenditures between $5,000 and $50,000, and from 30% to 40% for expenditures of $50,000 or more. For cities with 50,000 or fewer residents (previously defined as less than 9,500), the bill maintains a 40% credit for expenditures of $5,000 or more, and now explicitly includes townships and unincorporated areas. Additionally, for non-profit historic structures exempt from federal income tax, the credit is increased from 30% to 40% for expenditures of $5,000 or more. These tax credits can be applied against income, privilege, or premium tax liabilities, and if the credit exceeds the taxpayer's tax liability for the year, the remaining credit can be carried forward. The bill aims to incentivize historic preservation by providing more generous tax credits across different types of communities and historic structures.

Budget and Finance, Business and Industry

Commerce (Senate)

https://kslegislature.gov/li/b2025_26/measures/sb227/