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Committee advances bill making Kansas housing investor tax credit transferable to original investment year
Summary
House Bill 2,096 would change when the Kansas Housing Investor Tax Credit may be transferred, making the transfer effective beginning in the year the cash investment was originally made and applying retroactively to tax year 2022 and thereafter; the committee voted the bill out favorably.
The Committee on Taxation voted to pass House Bill 2,096 favorably after a reviser overview. The reviser said HB 2,096 would permit the Kansas Housing Investor Tax Credit to be transferable from the year the cash investment was originally made rather than from the year the credit was issued. The bill also would apply the change retroactively to tax credits issued for tax year 2022 and thereafter.
Representative Francis moved the bill out favorably; Representative Butler seconded the motion. The committee approved the motion by voice vote; individual member votes were not recorded in the hearing transcript.
Committee members asked no recorded questions during the reviser’s summary and there was no opposition or neutral testimony reflected in the transcript. As described by the reviser, the change would alter the timing rule for when the credit may be transferred; the bill text, as summarized, also included a retroactivity provision to tax year 2022.
Votes at a glance: HB 2,096 — motion to pass out favorably; mover: Representative Francis; second: Representative Butler; outcome: passed by voice vote (individual member votes not recorded in transcript).
