Bill > HB2621

This bill amends Kansas law to provide a property tax exemption for real property owned by a not-for-profit organization that is exempt from federal income taxation under section 501(c)(3) of the Internal Revenue Code and is used to provide affordable housing to individuals or families earning 80% or less of the area median income, or for transitional housing or emergency shelter housing, starting for taxable years after December 31, 2026. The bill also repeals the existing section of law it amends, meaning the new provision will replace the old one.