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Minutes for HB2654 - Committee on Taxation

Short Title

Providing an income tax credit for expenditures to construct health or education facilities by KCAC member institutions.

Minutes Content for Tue, Mar 13, 2018

Mr. Wells provided an overview on HB2654 stating the bill would enact a new credit in Kansas for tax years 2018, 2019 and 2020.  The credit would be for an amount equal to 20 percent to the amount expended by a member institution of the Kansas Collegiate Athletic Conference to construct a health or education facility.  If the amount of the credit exceeds the taxpayer's income tax liability in the next succeeding taxable year or years until the total amount of tax credit has been deducted from the tax liability.  Mr. Wells stood for questions from the Committee.

Ms. Smith stated the Department of Revenue does not have enough information to estimate the fiscal impact on HB2654

Representative Tim Hodge testified as a proponent to HB2654  (Attachment 5).    Representative Hodge stood for questions from the Committee.

James Franko submitted written testimony as an opponent to HB2654 (Attachment 6).

Matt Lindsey, Kansas Independent College Association testified as neutral to HB2654 (Attachment 7).

Hearing closed on HB2654.