KS
Kansas House Bill HB2744

Kansas 2023-2024 Regular Session

Kansas House Bill HB2744

Introduced
2/7/24  
Refer
2/7/24  

Caption

Establishing the transformation of passenger and freight vehicle industry act program to attract businesses engaged in electric motor vehicle and hydrogen-powered vehicle production by offering qualified companies that meet certain requirements an investment tax credit, retention of a percentage of total payroll tax, reimbursement of a percentage of eligible employee training and education expenses and a sales tax exemption for construction costs of the qualified company's qualified business facility.

Impact

If enacted, HB2744 is expected to substantially influence state laws related to economic incentives and business taxation. The legislation is set to broaden the opportunities for qualified companies to establish or expand operations in Kansas, thereby enhancing job availability in the electric and hydrogen vehicle sectors. As these investments are linked to specific job creation metrics, the bill could potentially lead to a shift in employment dynamics within the state's economic framework, particularly in areas focused on advanced manufacturing and technology.

Summary

House Bill 2744, known as the Transformation of Passenger and Freight Vehicle Industry Act, aims to foster economic development in the state by attracting businesses involved in the production of electric and hydrogen-powered vehicles. The bill proposes various incentives, such as a refundable income and premium tax credit for qualified companies making significant investments in Kansas. For eligible projects that require a capital investment of at least $250 million and create a minimum of 250 new jobs, companies can claim a tax credit of up to 10% per taxable year, which is designed to stimulate job growth and investment in facilities supporting this industry.

Contention

While the act presents a robust package of incentives aimed at sustainable vehicle manufacturing, some stakeholders express concerns about its implications. Critics argue that strict requirements for job creation and investment levels may disproportionately benefit larger corporations, potentially sidelining smaller businesses and local enterprises. Additionally, there are worries regarding the adequacy of oversight to ensure that the promised jobs and investments are realized by the qualified firms, suggesting that the state must establish clear mechanisms for accountability to protect public interests.

Latest KS HB2744 Activity

View All Events: KS 2023-2024 Regular Session HB2744

Companion Bills

No companion bills found.

Previously Filed As

KS HB2471

Establishing the transformation of passenger and freight vehicle industry program to attract businesses engaged in electric motor vehicle and hydrogen-powered vehicle production by offering qualified companies that meet certain requirements an investment tax credit, retention of a percentage of total payroll tax, reimbursement of a percentage of eligible employee training and education expenses and a sales tax exemption for construction costs of the qualified company’s qualified business facility.

KS SB325

Establishing the transformation of passenger and freight vehicle industry program to attract businesses engaged in electric motor vehicle and hydrogen-powered vehicle production by offering qualified companies that meet certain requirements an investment tax credit, retention of a percentage of total payroll tax, reimbursement of a percentage of eligible employee training and education expenses and a sales tax exemption for construction costs of the qualified company’s qualified business facility.

KS HB2308

Enacting the aviation and innovative manufacturing in Kansas act to attract businesses establishing a headquarters or engaged in aircraft assembly, electric or hydrogen-powered motor vehicle production, and other specified industries to Kansas by offering companies meeting certain employment and investment requirements an investment tax credit, retention of a percentage of total payroll tax, reimbursement of eligible employee training and education expenses and a sales tax exemption for construction costs.

KS SB545

Providing a sales tax exemption for the construction or remodeling of a qualified data center in Kansas and the purchase of data center equipment, eligible data center costs, electricity and certain labor costs to qualified firms that commit to a minimum investment of at least $600,000,000 and meet new Kansas jobs and other requirements.

KS SB98

Providing a sales tax exemption for the construction or remodeling of a qualified data center in Kansas and the purchase of data center equipment, eligible data center costs and certain labor costs to qualified firms that commit to a minimum investment of at least $250,000,000 and meet new Kansas jobs and other requirements.

KS HB8

Income tax credit; certain investments in qualified businesses; renew and revise

KS SB51

Providing a sales tax exemption for the construction or remodeling of a qualified data center in Kansas and the purchase of data center equipment, eligible data center costs and certain labor costs to qualified firms that commit to a minimum investment of at least $250,000,000 and meet new Kansas jobs and other requirements.

KS HB2450

Substitute for HB 2450 by Committee on Commerce, Labor and Economic Development - Providing a sales tax exemption for the construction or remodeling of a qualified data center in Kansas and the purchase of data center equipment, eligible data center costs, electricity and certain labor costs to qualified firms that commit to a minimum investment of at least $600,000,000 and meet new Kansas jobs and other requirements.

KS S0921

Creates qualified data centers and tax exemptions.

KS H6097

Creates qualified data centers and tax exemptions.

Similar Bills

KS HB2471

Establishing the transformation of passenger and freight vehicle industry program to attract businesses engaged in electric motor vehicle and hydrogen-powered vehicle production by offering qualified companies that meet certain requirements an investment tax credit, retention of a percentage of total payroll tax, reimbursement of a percentage of eligible employee training and education expenses and a sales tax exemption for construction costs of the qualified company’s qualified business facility.

KS SB325

Establishing the transformation of passenger and freight vehicle industry program to attract businesses engaged in electric motor vehicle and hydrogen-powered vehicle production by offering qualified companies that meet certain requirements an investment tax credit, retention of a percentage of total payroll tax, reimbursement of a percentage of eligible employee training and education expenses and a sales tax exemption for construction costs of the qualified company’s qualified business facility.

KS HB2450

Substitute for HB 2450 by Committee on Commerce, Labor and Economic Development - Providing a sales tax exemption for the construction or remodeling of a qualified data center in Kansas and the purchase of data center equipment, eligible data center costs, electricity and certain labor costs to qualified firms that commit to a minimum investment of at least $600,000,000 and meet new Kansas jobs and other requirements.

KS SB545

Providing a sales tax exemption for the construction or remodeling of a qualified data center in Kansas and the purchase of data center equipment, eligible data center costs, electricity and certain labor costs to qualified firms that commit to a minimum investment of at least $600,000,000 and meet new Kansas jobs and other requirements.

KS SB98

Providing a sales tax exemption for the construction or remodeling of a qualified data center in Kansas and the purchase of data center equipment, eligible data center costs and certain labor costs to qualified firms that commit to a minimum investment of at least $250,000,000 and meet new Kansas jobs and other requirements.

KS SB51

Providing a sales tax exemption for the construction or remodeling of a qualified data center in Kansas and the purchase of data center equipment, eligible data center costs and certain labor costs to qualified firms that commit to a minimum investment of at least $250,000,000 and meet new Kansas jobs and other requirements.

KS HB2234

Increasing and changing the measure of the cost threshold when state construction projects require a negotiating committee and the selection of professional services from a list of qualified firms.

KS HB2097

Enacting the Kansas film and digital media industry production development act, providing a tax credit, sales tax exemption and loans and grants to incentivize film, video and digital media production in Kansas, establishing a program to be administered by the secretary of commerce for the purpose of developing such production in Kansas, requiring the secretary of commerce to issue reports on the economic impact, providing sales tax exemptions for purchases by a certain community theaters and purchases and sales made by the friends of cedar crest association and establishing an income, privilege and premium tax credit for employers that employ members of the Kansas army and air national guard and establishing an income tax credit for employees that are members thereof.