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 9  AN ACT relating to income taxation; concerning certain credits and ex-
10    emptions; amending K.S.A. 79-32,121 and repealing the existing
11    section.
12
13  Be it enacted by the Legislature of the State of Kansas:
14    Section 1.  K.S.A. 79-32,121 is hereby amended to read as follows:
15  79-32,121. (a) For all taxable years commencing after December 31, 1996,
16  an individual shall be allowed a Kansas exemption of $1,950 for tax year
17  1988, and $2,000 for each tax year thereafter, in the amount and for each
18  exemption for which such individual is entitled to a deduction for the
19  taxable year for federal income tax purposes. In addition to the exemp-
20  tions authorized in the foregoing provision, an individual filing a federal
21  income tax return under the status of head of household, as the same is
22  defined by 26 U.S.C. 2(b), shall be allowed an additional Kansas exemp-
23  tion of $1,950 for tax year 1988, and $2,000 for each tax year thereafter
24  in the amount allowed pursuant to the foregoing provision.
25    (b)  For tax year 1987, there shall be allowed as a credit against the
26  tax liability of a resident individual imposed under the Kansas income tax
27  act who except for the operation of the provisions of K.S.A. 79-32,121
28  resulting from amendments to the federal internal revenue code would
29  have been allowed an additional exemption for blindness or age or both
30  pursuant to such section in tax year 1987, an amount equal to $60 for
31  each such exemption. The total amount of such credits shall not exceed
32  the amount of tax imposed by K.S.A. 79-32,110, and amendments thereto,
33  reduced by the sum of any other credits allowable pursuant to law.
34    New Sec. 2.  (a) For all taxable years commencing after December
35  31, 1996, there shall be allowed as a credit against the tax liability of a
36  resident individual imposed under the Kansas income tax act an amount
37  equal to 50% of the amount of the credit allowed against such taxpayer's
38  federal income tax liability pursuant to section 23 of the federal internal
39  revenue code for the taxable year in which such credit was claimed against
40  the taxpayer's federal income tax liability.
41    (b)  The credit allowed by subsection (a) shall not exceed the amount
42  of the tax imposed by K.S.A. 79-32,110, and amendments thereto, re-
HB 2399
                                     

 1  duced by the sum of any other credits allowable pursuant to law.
 2    Sec. 3.  K.S.A. 79-32,121 is hereby repealed.
 3    Sec. 4.  This act shall take effect and be in force from and after its
 4  publication in the statute book.