Bill > HB2036

This bill provides income tax credits for aerospace and aviation program graduates and their employers. The key provisions are: 1. It defines important terms such as "aerospace," "aviation," "aviation sector," "qualified employee," "qualified employer," and "qualified program." 2. It allows qualified employers to claim a tax credit of up to 50% of the tuition reimbursed to qualified employees who have obtained an undergraduate, graduate, or technical degree or certificate from a qualified program within one year before or after starting employment. 3. It allows qualified employers to claim a tax credit of up to 10% (if the employee graduated from a Kansas institution) or 5% (if the employee graduated from an out-of-state institution) of the compensation paid to qualified employees in the first through fifth consecutive years of employment, with a cap of $15,000 or $7,500 per employee, respectively. 4. It allows qualified employees to claim a $5,000 tax credit for each of the four taxable years succeeding the year in which they first became a qualified employee. 5. The bill authorizes the Secretary of Revenue to adopt rules and regulations and requires the Secretary to submit an annual report on the cost and effectiveness of the tax credit program. 6. The tax credits will not be available after December 31, 2022.

Budget and Finance, Business and Industry, Transportation and Infrastructure

Commerce, Labor and Economic Development (House)

http://kslegislature.org/li/b2017_18/measures/hb2036/