Minutes for SB375 - Committee on Federal and State Affairs

Short Title

Enacting the Kansas housing investor tax credit act and expanding Kansas housing programs to facilitate economic development by providing tax credits for investment in residential housing projects in underserved rural and urban communities to accommodate new employees and support business growth.

Minutes Content for Mon, Feb 7, 2022

The Chairman opened the hearing and called upon Jason Long for a revisors overview of the bill.

(Attachment 1)

The Chairman called for proponent testimony on the bill.

The Chairman provided the introduction to the proponent testimony.

(Attachment 2)

Proponent Ross Vogel emphasized that this tax credit will produce $150 Million per year in housing activity which he asserted would have an ancillary effect, for instance that would result in more than $5M in sales tax on materials and countless jobs and opportunities for Kansans.

(Attachment 3)

Proponent John Goodyear stated that one of the biggest concerns he hears from member cities is the dearth of good housing options.

(Attachment 4)

Proponent Alex Orel recognized that the shortage of housing in Kansas represents an undeniable barrier to economic growth and development for any community whether it be urban or rural.

(Attachment 5)

Proponent Derek Lee shared an optimistic picture of economic growth in his area, but he pointed out that what is lacking is moderately priced housing. Mr. Lee asserted that with these two bills, the market he represents would go a long way to supporting current and future economic growth.

(Attachment 6)

Proponent Allie Divine cited a study a recent study to identify barriers to agribusiness expansion in rural Kansas. Ms. Divine suggested that in addition to supporting SB 375 she indicated that the Coalition she represents is also requesting the transfer of $50 million to the Kansas Housing Resource Corporation.

(Attachment 7)

Proponent Martha Neu Smith stated that her organization welcomed the new tools proposed in both bills that in her opinion fills a large gap that exists for future housing development.

(Attachment 8)

Wrttten-Only Proponents:

Dennis Riorder, Solomon State Bank

(Attachment 9)

Mark Tomb, Kansas Assn. of Realtors

(Attachment 10)

Jonathan Goering, Thrive Allen County

(Attachment 11)

Gary Eakin, Osbourne Industries Inc.

(Attachment 12)

Gary Hobbie, Community Development of Central Kansas

(Attachment 13)