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House committee hears proposal to expand short-line railroad maintenance tax credit
Summary
The Committee on Taxation heard testimony on House Bill 24-69, which would expand transferability and allowable tax use for Kansas' short-line railroad maintenance credit; supporters said the change is a technical fix with no fiscal impact and would spur millions in track investments.
The Committee on Taxation heard testimony on House Bill 24-69, which would broaden Kansas' short-line railroad maintenance tax credit so unused credits can be transferred to any taxpayer and used against premium taxes, privileged fees and privileged taxes.
Reviser Seabers told the committee the bill removes existing limits on recipients of transferred credits and widens the types of taxes against which the credit may be claimed. The fiscal note, the chair said, shows the Department of Revenue estimates the bill would have no fiscal effect on state general revenues.
Supporters said the change is aimed at making an…
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