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Committee hears technical fix to Kansas housing investor tax credit to preserve carryforward value for buyers
Summary
House Bill 2096 would change the Kansas housing investor tax credit's transferability so a transferred credit is recognized in the year the cash investment was made, and would apply that change retroactively to tax year 2022.
House Bill 2096 would change when a Kansas housing investor tax credit becomes transferable, allowing the transfer to be recognized in the year the cash investment was originally made rather than the year the credit is actually transferred, and would apply the change retroactively to credits issued for tax year 2022 and later.
Proponents told the committee the amendment is a narrow technical fix that preserves the full value of the credit for purchasers and increases available cash for developers who use the program to redevelop housing in rural communities.
Amelia (committee staff) summarized the bill for the committee and said the measure would amend the transferability provision currently codified in K.S.A. 79-32-313 to provide that Kansas housing investor tax credits are transferable…
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