KS
Kansas Senate Bill SB360

Kansas 2023-2024 Regular Session

Kansas Senate Bill SB360 Compare Versions

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1+Session of 2024
12 SENATE BILL No. 360
2-AN ACT concerning tax-advantaged savings programs; allowing the taxpayer to elect the
3-taxable year in which a subtraction modification for contributions to 529 qualified
4-tuition accounts, ABLE accounts or first-time home buyer savings accounts would be
5-applied; authorizing the state treasurer to appoint a 529 program advisory committee;
6-amending K.S.A. 75-644 and K.S.A. 2023 Supp. 79-32,117 and repealing the existing
7-sections.
3+By Committee on Education
4+1-18
5+AN ACT concerning tax-advantaged savings programs; allowing the
6+taxpayer to elect the taxable year in which a subtraction modification
7+for contributions to 529 qualified tuition accounts, ABLE accounts or
8+first-time home buyer savings accounts would be applied; authorizing
9+the state treasurer to appoint a 529 program advisory council; amending
10+K.S.A. 75-644 and K.S.A. 2023 Supp. 79-32,117 and repealing the
11+existing sections.
812 Be it enacted by the Legislature of the State of Kansas:
9-Section 1. K.S.A. 75-644 is hereby amended to read as follows:
10-75-644. (a) The state treasurer shall implement and administer the
11-program under the terms and conditions established by K.S.A. 75-640
12-to through 75-648, and amendments thereto.
13+Section 1. K.S.A. 75-644 is hereby amended to read as follows: 75-
14+644. (a) The state treasurer shall implement and administer the program
15+under the terms and conditions established by K.S.A. 75-640 to through
16+75-648, and amendments thereto.
1317 (b) In furtherance of such implementation and administration, the
1418 state treasurer shall have the authority and responsibility to:
15-(1) Develop and implement the program in a manner consistent
16-with the provisions of K.S.A. 75-640 to through 75-648, and
17-amendments thereto, through adoption of rules and regulations;
19+(1) Develop and implement the program in a manner consistent with
20+the provisions of K.S.A. 75-640 to through 75-648, and amendments
21+thereto, through adoption of rules and regulations;
1822 (2) engage the services of consultants on a contract basis for
1923 rendering professional and technical assistance and advice;
2024 (3) seek rulings and other guidance from the United States
21-department of treasury and the federal internal revenue service relating
22-to the program;
23-(4) make changes to the program required for the participants in
24-the program to obtain the federal income tax benefits or treatment
25-provided by section 529 of the federal internal revenue code of 1986, as
26-amended, or any similar successor legislation;
27-(5) charge, impose and collect administrative fees and service
28-charges in connection with any agreement, contract or transaction
29-relating to the program;
25+department of treasury and the federal internal revenue service relating to
26+the program;
27+(4) make changes to the program required for the participants in the
28+program to obtain the federal income tax benefits or treatment provided by
29+section 529 of the federal internal revenue code of 1986, as amended, or
30+any similar successor legislation;
31+(5) charge, impose and collect administrative fees and service charges
32+in connection with any agreement, contract or transaction relating to the
33+program;
3034 (6) develop marketing plans and promotion material;
31-(7) establish the methods by which the funds held in accounts
32-shall be dispersed disbursed;
33-(8) establish the method by which funds shall be allocated to pay
34-for administrative costs;
35+(7) establish the methods by which the funds held in accounts shall be
36+dispersed disbursed;
37+(8) establish the method by which funds shall be allocated to pay for
38+administrative costs;
3539 (9) do all things necessary and proper to carry out the purposes of
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3676 K.S.A. 75-640 to through 75-648, and amendments thereto;
37-(10) adopt rules and regulations necessary to administer K.S.A.
38-75-640 to through 75-648, and amendments thereto; and
39-(11) evaluate the Kansas postsecondary education savings
40-program annually, and make a report thereon to the governor and
41-legislature for the period; and
42-(12) appoint an advisory committee to make recommendations for
43-the implementation and operation of the program. The state treasurer
44-shall determine the membership of the committee, and members shall
45-serve at the pleasure of the state treasurer. No member of the advisory
46-committee appointed pursuant to this paragraph shall receive any
47-compensation, subsistence, mileage or other allowance for serving on
48-the advisory committee.
77+(10) adopt rules and regulations necessary to administer K.S.A. 75-
78+640 to through 75-648, and amendments thereto; and
79+(11) evaluate the Kansas postsecondary education savings program
80+annually, and make a report thereon to the governor and legislature for the
81+period; and
82+(12) appoint an advisory council to make recommendations for the
83+implementation and operation of the program. The state treasurer shall
84+determine the membership of the committee, and members shall serve at
85+the pleasure of the state treasurer. No member of the advisory council
86+appointed pursuant to this paragraph shall receive any compensation,
87+subsistence, mileage or other allowance for serving on the advisory
88+council.
4989 Sec. 2. K.S.A. 2023 Supp. 79-32,117 is hereby amended to read as
50-follows: 79-32,117. (a) The Kansas adjusted gross income of an
51-individual means such individual's federal adjusted gross income for
52-the taxable year, with the modifications specified in this section.
90+follows: 79-32,117. (a) The Kansas adjusted gross income of an individual
91+means such individual's federal adjusted gross income for the taxable year,
92+with the modifications specified in this section.
5393 (b) There shall be added to federal adjusted gross income:
54-(i) Interest income less any related expenses directly incurred in
55-the purchase of state or political subdivision obligations, to the extent
56-that the same is not included in federal adjusted gross income, on
57-obligations of any state or political subdivision thereof, but to the
58-extent that interest income on obligations of this state or a political
59-subdivision thereof issued prior to January 1, 1988, is specifically
60-exempt from income tax under the laws of this state authorizing the SENATE BILL No. 360—page 2
61-issuance of such obligations, it shall be excluded from computation of
62-Kansas adjusted gross income whether or not included in federal
63-adjusted gross income. Interest income on obligations of this state or a
64-political subdivision thereof issued after December 31, 1987, shall be
65-excluded from computation of Kansas adjusted gross income whether
66-or not included in federal adjusted gross income.
94+(i) Interest income less any related expenses directly incurred in the
95+purchase of state or political subdivision obligations, to the extent that the
96+same is not included in federal adjusted gross income, on obligations of
97+any state or political subdivision thereof, but to the extent that interest
98+income on obligations of this state or a political subdivision thereof issued
99+prior to January 1, 1988, is specifically exempt from income tax under the
100+laws of this state authorizing the issuance of such obligations, it shall be
101+excluded from computation of Kansas adjusted gross income whether or
102+not included in federal adjusted gross income. Interest income on
103+obligations of this state or a political subdivision thereof issued after
104+December 31, 1987, shall be excluded from computation of Kansas
105+adjusted gross income whether or not included in federal adjusted gross
106+income.
67107 (ii) Taxes on or measured by income or fees or payments in lieu of
68-income taxes imposed by this state or any other taxing jurisdiction to
69-the extent deductible in determining federal adjusted gross income and
70-not credited against federal income tax. This paragraph shall not apply
71-to taxes imposed under the provisions of K.S.A. 79-1107 or 79-1108,
72-and amendments thereto, for privilege tax year 1995, and all such years
108+income taxes imposed by this state or any other taxing jurisdiction to the
109+extent deductible in determining federal adjusted gross income and not
110+credited against federal income tax. This paragraph shall not apply to taxes
111+imposed under the provisions of K.S.A. 79-1107 or 79-1108, and
112+amendments thereto, for privilege tax year 1995, and all such years
73113 thereafter.
74-(iii) The federal net operating loss deduction, except that the
75-federal net operating loss deduction shall not be added to an
76-individual's federal adjusted gross income for tax years beginning after
77-December 31, 2016.
114+(iii) The federal net operating loss deduction, except that the federal
115+net operating loss deduction shall not be added to an individual's federal
116+adjusted gross income for tax years beginning after December 31, 2016.
78117 (iv) Federal income tax refunds received by the taxpayer if the
79-deduction of the taxes being refunded resulted in a tax benefit for
80-Kansas income tax purposes during a prior taxable year. Such refunds
81-shall be included in income in the year actually received regardless of
82-the method of accounting used by the taxpayer. For purposes hereof, a
83-tax benefit shall be deemed to have resulted if the amount of the tax
84-had been deducted in determining income subject to a Kansas income
85-tax for a prior year regardless of the rate of taxation applied in such
86-prior year to the Kansas taxable income, but only that portion of the
87-refund shall be included as bears the same proportion to the total refund
88-received as the federal taxes deducted in the year to which such refund
89-is attributable bears to the total federal income taxes paid for such year.
90-For purposes of the foregoing sentence, federal taxes shall be
91-considered to have been deducted only to the extent such deduction
92-does not reduce Kansas taxable income below zero.
118+deduction of the taxes being refunded resulted in a tax benefit for Kansas
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162+income tax purposes during a prior taxable year. Such refunds shall be
163+included in income in the year actually received regardless of the method
164+of accounting used by the taxpayer. For purposes hereof, a tax benefit shall
165+be deemed to have resulted if the amount of the tax had been deducted in
166+determining income subject to a Kansas income tax for a prior year
167+regardless of the rate of taxation applied in such prior year to the Kansas
168+taxable income, but only that portion of the refund shall be included as
169+bears the same proportion to the total refund received as the federal taxes
170+deducted in the year to which such refund is attributable bears to the total
171+federal income taxes paid for such year. For purposes of the foregoing
172+sentence, federal taxes shall be considered to have been deducted only to
173+the extent such deduction does not reduce Kansas taxable income below
174+zero.
93175 (v) The amount of any depreciation deduction or business expense
94176 deduction claimed on the taxpayer's federal income tax return for any
95177 capital expenditure in making any building or facility accessible to the
96178 handicapped, for which expenditure the taxpayer claimed the credit
97179 allowed by K.S.A. 79-32,177, and amendments thereto.
98-(vi) Any amount of designated employee contributions picked up
99-by an employer pursuant to K.S.A. 12-5005, 20-2603, 74-4919 and 74-
100-4965, and amendments thereto.
101-(vii) The amount of any charitable contribution made to the extent
102-the same is claimed as the basis for the credit allowed pursuant to
103-K.S.A. 79-32,196, and amendments thereto.
104-(viii) The amount of any costs incurred for improvements to a
105-swine facility, claimed for deduction in determining federal adjusted
106-gross income, to the extent the same is claimed as the basis for any
107-credit allowed pursuant to K.S.A. 79-32,204, and amendments thereto.
180+(vi) Any amount of designated employee contributions picked up by
181+an employer pursuant to K.S.A. 12-5005, 20-2603, 74-4919 and 74-4965,
182+and amendments thereto.
183+(vii) The amount of any charitable contribution made to the extent the
184+same is claimed as the basis for the credit allowed pursuant to K.S.A. 79-
185+32,196, and amendments thereto.
186+(viii) The amount of any costs incurred for improvements to a swine
187+facility, claimed for deduction in determining federal adjusted gross
188+income, to the extent the same is claimed as the basis for any credit
189+allowed pursuant to K.S.A. 79-32,204, and amendments thereto.
108190 (ix) The amount of any ad valorem taxes and assessments paid and
109-the amount of any costs incurred for habitat management or
110-construction and maintenance of improvements on real property,
111-claimed for deduction in determining federal adjusted gross income, to
112-the extent the same is claimed as the basis for any credit allowed
113-pursuant to K.S.A. 79-32,203, and amendments thereto.
191+the amount of any costs incurred for habitat management or construction
192+and maintenance of improvements on real property, claimed for deduction
193+in determining federal adjusted gross income, to the extent the same is
194+claimed as the basis for any credit allowed pursuant to K.S.A. 79-32,203,
195+and amendments thereto.
114196 (x) Amounts received as nonqualified withdrawals, as defined by
115-K.S.A. 75-643, and amendments thereto, if, at the time of contribution
116-to a family postsecondary education savings account, such amounts
117-were subtracted from the federal adjusted gross income pursuant to
118-subsection (c)(xv) or if such amounts are not already included in the
119-federal adjusted gross income. SENATE BILL No. 360—page 3
197+K.S.A. 75-643, and amendments thereto, if, at the time of contribution to a
198+family postsecondary education savings account, such amounts were
199+subtracted from the federal adjusted gross income pursuant to subsection
200+(c)(xv) or if such amounts are not already included in the federal adjusted
201+gross income.
120202 (xi) The amount of any contribution made to the same extent the
121-same is claimed as the basis for the credit allowed pursuant to K.S.A.
122-74-50,154, and amendments thereto.
203+same is claimed as the basis for the credit allowed pursuant to K.S.A. 74-
204+50,154, and amendments thereto.
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123248 (xii) For taxable years commencing after December 31, 2004,
124-amounts received as withdrawals not in accordance with the provisions
125-of K.S.A. 74-50,204, and amendments thereto, if, at the time of
126-contribution to an individual development account, such amounts were
127-subtracted from the federal adjusted gross income pursuant to
128-subsection (c)(xiii), or if such amounts are not already included in the
129-federal adjusted gross income.
249+amounts received as withdrawals not in accordance with the provisions of
250+K.S.A. 74-50,204, and amendments thereto, if, at the time of contribution
251+to an individual development account, such amounts were subtracted from
252+the federal adjusted gross income pursuant to subsection (c)(xiii), or if
253+such amounts are not already included in the federal adjusted gross
254+income.
130255 (xiii) The amount of any expenditures claimed for deduction in
131256 determining federal adjusted gross income, to the extent the same is
132-claimed as the basis for any credit allowed pursuant to K.S.A. 79-
133-32,217 through 79-32,220 or 79-32,222, and amendments thereto.
257+claimed as the basis for any credit allowed pursuant to K.S.A. 79-32,217
258+through 79-32,220 or 79-32,222, and amendments thereto.
134259 (xiv) The amount of any amortization deduction claimed in
135260 determining federal adjusted gross income to the extent the same is
136261 claimed for deduction pursuant to K.S.A. 79-32,221, and amendments
137262 thereto.
138263 (xv) The amount of any expenditures claimed for deduction in
139264 determining federal adjusted gross income, to the extent the same is
140-claimed as the basis for any credit allowed pursuant to K.S.A. 79-
141-32,223 through 79-32,226, 79-32,228 through 79-32,231, 79-32,233
142-through 79-32,236, 79-32,238 through 79-32,241, 79-32,245 through
143-79-32,248 or 79-32,251 through 79-32,254, and amendments thereto.
265+claimed as the basis for any credit allowed pursuant to K.S.A. 79-32,223
266+through 79-32,226, 79-32,228 through 79-32,231, 79-32,233 through 79-
267+32,236, 79-32,238 through 79-32,241, 79-32,245 through 79-32,248 or 79-
268+32,251 through 79-32,254, and amendments thereto.
144269 (xvi) The amount of any amortization deduction claimed in
145270 determining federal adjusted gross income to the extent the same is
146271 claimed for deduction pursuant to K.S.A. 79-32,227, 79-32,232, 79-
147272 32,237, 79-32,249, 79-32,250 or 79-32,255, and amendments thereto.
148273 (xvii) The amount of any amortization deduction claimed in
149274 determining federal adjusted gross income to the extent the same is
150275 claimed for deduction pursuant to K.S.A. 79-32,256, and amendments
151276 thereto.
152-(xviii) For taxable years commencing after December 31, 2006,
153-the amount of any ad valorem or property taxes and assessments paid to
154-a state other than Kansas or local government located in a state other
155-than Kansas by a taxpayer who resides in a state other than Kansas,
156-when the law of such state does not allow a resident of Kansas who
157-earns income in such other state to claim a deduction for ad valorem or
158-property taxes or assessments paid to a political subdivision of the state
159-of Kansas in determining taxable income for income tax purposes in
160-such other state, to the extent that such taxes and assessments are
161-claimed as an itemized deduction for federal income tax purposes.
277+(xviii) For taxable years commencing after December 31, 2006, the
278+amount of any ad valorem or property taxes and assessments paid to a state
279+other than Kansas or local government located in a state other than Kansas
280+by a taxpayer who resides in a state other than Kansas, when the law of
281+such state does not allow a resident of Kansas who earns income in such
282+other state to claim a deduction for ad valorem or property taxes or
283+assessments paid to a political subdivision of the state of Kansas in
284+determining taxable income for income tax purposes in such other state, to
285+the extent that such taxes and assessments are claimed as an itemized
286+deduction for federal income tax purposes.
162287 (xix) For taxable years beginning after December 31, 2012, and
163-ending before January 1, 2017, the amount of any: (1) Loss from
164-business as determined under the federal internal revenue code and
165-reported from schedule C and on line 12 of the taxpayer's form 1040
166-federal individual income tax return; (2) loss from rental real estate,
167-royalties, partnerships, S corporations, except those with wholly owned
168-subsidiaries subject to the Kansas privilege tax, estates, trusts, residual
169-interest in real estate mortgage investment conduits and net farm rental
170-as determined under the federal internal revenue code and reported
171-from schedule E and on line 17 of the taxpayer's form 1040 federal
172-individual income tax return; and (3) farm loss as determined under the
173-federal internal revenue code and reported from schedule F and on line
174-18 of the taxpayer's form 1040 federal income tax return; all to the
175-extent deducted or subtracted in determining the taxpayer's federal
176-adjusted gross income. For purposes of this subsection, references to
177-the federal form 1040 and federal schedule C, schedule E, and schedule
178-F, shall be to such form and schedules as they existed for tax year 2011, SENATE BILL No. 360—page 4
179-and as revised thereafter by the internal revenue service.
288+ending before January 1, 2017, the amount of any: (1) Loss from business
289+as determined under the federal internal revenue code and reported from
290+schedule C and on line 12 of the taxpayer's form 1040 federal individual
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334+income tax return; (2) loss from rental real estate, royalties, partnerships, S
335+corporations, except those with wholly owned subsidiaries subject to the
336+Kansas privilege tax, estates, trusts, residual interest in real estate
337+mortgage investment conduits and net farm rental as determined under the
338+federal internal revenue code and reported from schedule E and on line 17
339+of the taxpayer's form 1040 federal individual income tax return; and (3)
340+farm loss as determined under the federal internal revenue code and
341+reported from schedule F and on line 18 of the taxpayer's form 1040
342+federal income tax return; all to the extent deducted or subtracted in
343+determining the taxpayer's federal adjusted gross income. For purposes of
344+this subsection, references to the federal form 1040 and federal schedule
345+C, schedule E, and schedule F, shall be to such form and schedules as they
346+existed for tax year 2011, and as revised thereafter by the internal revenue
347+service.
180348 (xx) For taxable years beginning after December 31, 2012, and
181349 ending before January 1, 2017, the amount of any deduction for self-
182350 employment taxes under section 164(f) of the federal internal revenue
183351 code as in effect on January 1, 2012, and amendments thereto, in
184-determining the federal adjusted gross income of an individual
185-taxpayer, to the extent the deduction is attributable to income reported
186-on schedule C, E or F and on line 12, 17 or 18 of the taxpayer's form
187-1040 federal income tax return.
352+determining the federal adjusted gross income of an individual taxpayer, to
353+the extent the deduction is attributable to income reported on schedule C,
354+E or F and on line 12, 17 or 18 of the taxpayer's form 1040 federal income
355+tax return.
188356 (xxi) For taxable years beginning after December 31, 2012, and
189-ending before January 1, 2017, the amount of any deduction for
190-pension, profit sharing, and annuity plans of self-employed individuals
191-under section 62(a)(6) of the federal internal revenue code as in effect
192-on January 1, 2012, and amendments thereto, in determining the federal
193-adjusted gross income of an individual taxpayer.
357+ending before January 1, 2017, the amount of any deduction for pension,
358+profit sharing, and annuity plans of self-employed individuals under
359+section 62(a)(6) of the federal internal revenue code as in effect on January
360+1, 2012, and amendments thereto, in determining the federal adjusted gross
361+income of an individual taxpayer.
194362 (xxii) For taxable years beginning after December 31, 2012, and
195363 ending before January 1, 2017, the amount of any deduction for health
196364 insurance under section 162(l) of the federal internal revenue code as in
197365 effect on January 1, 2012, and amendments thereto, in determining the
198366 federal adjusted gross income of an individual taxpayer.
199367 (xxiii) For taxable years beginning after December 31, 2012, and
200-ending before January 1, 2017, the amount of any deduction for
201-domestic production activities under section 199 of the federal internal
202-revenue code as in effect on January 1, 2012, and amendments thereto,
203-in determining the federal adjusted gross income of an individual
204-taxpayer.
205-(xxiv) For taxable years commencing after December 31, 2013,
206-that portion of the amount of any expenditure deduction claimed in
207-determining federal adjusted gross income for expenses paid for
208-medical care of the taxpayer or the taxpayer's spouse or dependents
209-when such expenses were paid or incurred for an abortion, or for a
210-health benefit plan, as defined in K.S.A. 65-6731, and amendments
211-thereto, for the purchase of an optional rider for coverage of abortion in
212-accordance with K.S.A. 40-2,190, and amendments thereto, to the
213-extent that such taxes and assessments are claimed as an itemized
214-deduction for federal income tax purposes.
215-(xxv) For taxable years commencing after December 31, 2013,
216-that portion of the amount of any expenditure deduction claimed in
217-determining federal adjusted gross income for expenses paid by a
218-taxpayer for health care when such expenses were paid or incurred for
219-abortion coverage, a health benefit plan, as defined in K.S.A. 65-6731,
220-and amendments thereto, when such expenses were paid or incurred for
221-abortion coverage or amounts contributed to health savings accounts
222-for such taxpayer's employees for the purchase of an optional rider for
368+ending before January 1, 2017, the amount of any deduction for domestic
369+production activities under section 199 of the federal internal revenue code
370+as in effect on January 1, 2012, and amendments thereto, in determining
371+the federal adjusted gross income of an individual taxpayer.
372+(xxiv) For taxable years commencing after December 31, 2013, that
373+portion of the amount of any expenditure deduction claimed in
374+determining federal adjusted gross income for expenses paid for medical
375+care of the taxpayer or the taxpayer's spouse or dependents when such
376+expenses were paid or incurred for an abortion, or for a health benefit plan,
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420+as defined in K.S.A. 65-6731, and amendments thereto, for the purchase of
421+an optional rider for coverage of abortion in accordance with K.S.A. 40-
422+2,190, and amendments thereto, to the extent that such taxes and
423+assessments are claimed as an itemized deduction for federal income tax
424+purposes.
425+(xxv) For taxable years commencing after December 31, 2013, that
426+portion of the amount of any expenditure deduction claimed in
427+determining federal adjusted gross income for expenses paid by a taxpayer
428+for health care when such expenses were paid or incurred for abortion
429+coverage, a health benefit plan, as defined in K.S.A. 65-6731, and
430+amendments thereto, when such expenses were paid or incurred for
431+abortion coverage or amounts contributed to health savings accounts for
432+such taxpayer's employees for the purchase of an optional rider for
223433 coverage of abortion in accordance with K.S.A. 40-2,190, and
224434 amendments thereto, to the extent that such taxes and assessments are
225435 claimed as a deduction for federal income tax purposes.
226-(xxvi) For all taxable years beginning after December 31, 2016,
227-the amount of any charitable contribution made to the extent the same
228-is claimed as the basis for the credit allowed pursuant to K.S.A. 72-
229-4357, and amendments thereto, and is also claimed as an itemized
230-deduction for federal income tax purposes.
231-(xxvii) For all taxable years commencing after December 31,
232-2020, the amount deducted by reason of a carryforward of disallowed
233-business interest pursuant to section 163(j) of the federal internal
234-revenue code of 1986, as in effect on January 1, 2018.
235-(xxviii) For all taxable years beginning after December 31, 2021,
236-the amount of any contributions to, or earnings from, a first-time home
237-buyer savings account if distributions from the account were not used SENATE BILL No. 360—page 5
238-to pay for expenses or transactions authorized pursuant to K.S.A. 2023
239-Supp. 58-4904, and amendments thereto, or were not held for the
240-minimum length of time required pursuant to K.S.A. 2023 Supp. 58-
241-4904, and amendments thereto. Contributions to, or earnings from,
242-such account shall also include any amount resulting from the account
243-holder not designating a surviving payable on death beneficiary
244-pursuant to K.S.A. 2023 Supp. 58-4904(e), and amendments thereto.
436+(xxvi) For all taxable years beginning after December 31, 2016, the
437+amount of any charitable contribution made to the extent the same is
438+claimed as the basis for the credit allowed pursuant to K.S.A. 72-4357, and
439+amendments thereto, and is also claimed as an itemized deduction for
440+federal income tax purposes.
441+(xxvii) For all taxable years commencing after December 31, 2020,
442+the amount deducted by reason of a carryforward of disallowed business
443+interest pursuant to section 163(j) of the federal internal revenue code of
444+1986, as in effect on January 1, 2018.
445+(xxviii) For all taxable years beginning after December 31, 2021, the
446+amount of any contributions to, or earnings from, a first-time home buyer
447+savings account if distributions from the account were not used to pay for
448+expenses or transactions authorized pursuant to K.S.A. 2023 Supp. 58-
449+4904, and amendments thereto, or were not held for the minimum length
450+of time required pursuant to K.S.A. 2023 Supp. 58-4904, and amendments
451+thereto. Contributions to, or earnings from, such account shall also include
452+any amount resulting from the account holder not designating a surviving
453+payable on death beneficiary pursuant to K.S.A. 2023 Supp. 58-4904(e),
454+and amendments thereto.
245455 (c) There shall be subtracted from federal adjusted gross income:
246456 (i) Interest or dividend income on obligations or securities of any
247457 authority, commission or instrumentality of the United States and its
248-possessions less any related expenses directly incurred in the purchase
249-of such obligations or securities, to the extent included in federal
250-adjusted gross income but exempt from state income taxes under the
251-laws of the United States.
458+possessions less any related expenses directly incurred in the purchase of
459+such obligations or securities, to the extent included in federal adjusted
460+gross income but exempt from state income taxes under the laws of the
461+United States.
252462 (ii) Any amounts received which are included in federal adjusted
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253506 gross income but which are specifically exempt from Kansas income
254507 taxation under the laws of the state of Kansas.
255-(iii) The portion of any gain or loss from the sale or other
256-disposition of property having a higher adjusted basis for Kansas
257-income tax purposes than for federal income tax purposes on the date
258-such property was sold or disposed of in a transaction in which gain or
259-loss was recognized for purposes of federal income tax that does not
260-exceed such difference in basis, but if a gain is considered a long-term
261-capital gain for federal income tax purposes, the modification shall be
262-limited to that portion of such gain which is included in federal
263-adjusted gross income.
508+(iii) The portion of any gain or loss from the sale or other disposition
509+of property having a higher adjusted basis for Kansas income tax purposes
510+than for federal income tax purposes on the date such property was sold or
511+disposed of in a transaction in which gain or loss was recognized for
512+purposes of federal income tax that does not exceed such difference in
513+basis, but if a gain is considered a long-term capital gain for federal
514+income tax purposes, the modification shall be limited to that portion of
515+such gain which is included in federal adjusted gross income.
264516 (iv) The amount necessary to prevent the taxation under this act of
265517 any annuity or other amount of income or gain which was properly
266-included in income or gain and was taxed under the laws of this state
267-for a taxable year prior to the effective date of this act, as amended, to
268-the taxpayer, or to a decedent by reason of whose death the taxpayer
269-acquired the right to receive the income or gain, or to a trust or estate
270-from which the taxpayer received the income or gain.
271-(v) The amount of any refund or credit for overpayment of taxes
272-on or measured by income or fees or payments in lieu of income taxes
273-imposed by this state, or any taxing jurisdiction, to the extent included
274-in gross income for federal income tax purposes.
518+included in income or gain and was taxed under the laws of this state for a
519+taxable year prior to the effective date of this act, as amended, to the
520+taxpayer, or to a decedent by reason of whose death the taxpayer acquired
521+the right to receive the income or gain, or to a trust or estate from which
522+the taxpayer received the income or gain.
523+(v) The amount of any refund or credit for overpayment of taxes on
524+or measured by income or fees or payments in lieu of income taxes
525+imposed by this state, or any taxing jurisdiction, to the extent included in
526+gross income for federal income tax purposes.
275527 (vi) Accumulation distributions received by a taxpayer as a
276528 beneficiary of a trust to the extent that the same are included in federal
277529 adjusted gross income.
278530 (vii) Amounts received as annuities under the federal civil service
279-retirement system from the civil service retirement and disability fund
280-and other amounts received as retirement benefits in whatever form
281-which were earned for being employed by the federal government or
282-for service in the armed forces of the United States.
531+retirement system from the civil service retirement and disability fund and
532+other amounts received as retirement benefits in whatever form which
533+were earned for being employed by the federal government or for service
534+in the armed forces of the United States.
283535 (viii) Amounts received by retired railroad employees as a
284536 supplemental annuity under the provisions of 45 U.S.C. §§ 228b(a) and
285537 228c(a)(1) et seq.
286-(ix) Amounts received by retired employees of a city and by
287-retired employees of any board of such city as retirement allowances
288-pursuant to K.S.A. 13-14,106, and amendments thereto, or pursuant to
289-any charter ordinance exempting a city from the provisions of K.S.A.
290-13-14,106, and amendments thereto.
291-(x) For taxable years beginning after December 31, 1976, the
292-amount of the federal tentative jobs tax credit disallowance under the
293-provisions of 26 U.S.C. § 280C. For taxable years ending after
294-December 31, 1978, the amount of the targeted jobs tax credit and work
295-incentive credit disallowances under 26 U.S.C. § 280C.
296-(xi) For taxable years beginning after December 31, 1986, SENATE BILL No. 360—page 6
297-dividend income on stock issued by Kansas venture capital, inc.
298-(xii) For taxable years beginning after December 31, 1989,
299-amounts received by retired employees of a board of public utilities as
300-pension and retirement benefits pursuant to K.S.A. 13-1246, 13-1246a
301-and 13-1249, and amendments thereto.
302-(xiii) For taxable years beginning after December 31, 2004,
303-amounts contributed to and the amount of income earned on
304-contributions deposited to an individual development account under
305-K.S.A. 74-50,201 et seq., and amendments thereto.
306-(xiv) For all taxable years commencing after December 31, 1996,
307-that portion of any income of a bank organized under the laws of this
308-state or any other state, a national banking association organized under
309-the laws of the United States, an association organized under the
310-savings and loan code of this state or any other state, or a federal
311-savings association organized under the laws of the United States, for
312-which an election as an S corporation under subchapter S of the federal
313-internal revenue code is in effect, which accrues to the taxpayer who is
314-a stockholder of such corporation and which is not distributed to the
315-stockholders as dividends of the corporation. For taxable years
316-beginning after December 31, 2012, and ending before January 1, 2017,
317-the amount of modification under this subsection shall exclude the
318-portion of income or loss reported on schedule E and included on line
319-17 of the taxpayer's form 1040 federal individual income tax return.
538+(ix) Amounts received by retired employees of a city and by retired
539+employees of any board of such city as retirement allowances pursuant to
540+K.S.A. 13-14,106, and amendments thereto, or pursuant to any charter
541+ordinance exempting a city from the provisions of K.S.A. 13-14,106, and
542+amendments thereto.
543+(x) For taxable years beginning after December 31, 1976, the amount
544+of the federal tentative jobs tax credit disallowance under the provisions of
545+26 U.S.C. § 280C. For taxable years ending after December 31, 1978, the
546+amount of the targeted jobs tax credit and work incentive credit
547+disallowances under 26 U.S.C. § 280C.
548+(xi) For taxable years beginning after December 31, 1986, dividend
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592+income on stock issued by Kansas venture capital, inc.
593+(xii) For taxable years beginning after December 31, 1989, amounts
594+received by retired employees of a board of public utilities as pension and
595+retirement benefits pursuant to K.S.A. 13-1246, 13-1246a and 13-1249,
596+and amendments thereto.
597+(xiii) For taxable years beginning after December 31, 2004, amounts
598+contributed to and the amount of income earned on contributions deposited
599+to an individual development account under K.S.A. 74-50,201 et seq., and
600+amendments thereto.
601+(xiv) For all taxable years commencing after December 31, 1996, that
602+portion of any income of a bank organized under the laws of this state or
603+any other state, a national banking association organized under the laws of
604+the United States, an association organized under the savings and loan
605+code of this state or any other state, or a federal savings association
606+organized under the laws of the United States, for which an election as an
607+S corporation under subchapter S of the federal internal revenue code is in
608+effect, which accrues to the taxpayer who is a stockholder of such
609+corporation and which is not distributed to the stockholders as dividends of
610+the corporation. For taxable years beginning after December 31, 2012, and
611+ending before January 1, 2017, the amount of modification under this
612+subsection shall exclude the portion of income or loss reported on schedule
613+E and included on line 17 of the taxpayer's form 1040 federal individual
614+income tax return.
320615 (xv) For all taxable years beginning after December 31, 2017, The
321-cumulative amounts not exceeding $3,000, or $6,000 for a married
322-couple filing a joint return, for each designated beneficiary that are
323-contributed to: (1) A family postsecondary education savings account
324-established under the Kansas postsecondary education savings program
325-or a qualified tuition program established and maintained by another
326-state or agency or instrumentality thereof pursuant to section 529 of the
327-internal revenue code of 1986, as amended, for the purpose of paying
328-the qualified higher education expenses of a designated beneficiary; or
329-(2) an achieving a better life experience (ABLE) account established
330-under the Kansas ABLE savings program or a qualified ABLE program
331-established and maintained by another state or agency or
332-instrumentality thereof pursuant to section 529A of the internal revenue
333-code of 1986, as amended, for the purpose of saving private funds to
334-support an individual with a disability. The terms and phrases used in
335-this paragraph shall have the meaning respectively ascribed thereto by
336-the provisions of K.S.A. 75-643 and 75-652, and amendments thereto,
337-and the provisions of such sections are hereby incorporated by
338-reference for all purposes thereof. For all taxable years beginning after
339-December 31, 2022, contributions made to a qualified tuition program
340-account or a qualified ABLE program account pursuant to this
341-paragraph on and after January 1 but prior to the date required for
342-filing a return pursuant to K.S.A. 79-3221, and amendments thereto, of
343-the successive taxable year may be elected by the taxpayer to apply to
344-the prior taxable year if such election is made at the time of filing the
345-return. No contribution shall be used as a modification pursuant to this
616+cumulative amounts not exceeding $3,000, or $6,000 for a married couple
617+filing a joint return, for each designated beneficiary that are contributed to:
618+(1) A family postsecondary education savings account established under
619+the Kansas postsecondary education savings program or a qualified tuition
620+program established and maintained by another state or agency or
621+instrumentality thereof pursuant to section 529 of the internal revenue
622+code of 1986, as amended, for the purpose of paying the qualified higher
623+education expenses of a designated beneficiary; or (2) an achieving a
624+better life experience (ABLE) account established under the Kansas ABLE
625+savings program or a qualified ABLE program established and maintained
626+by another state or agency or instrumentality thereof pursuant to section
627+529A of the internal revenue code of 1986, as amended, for the purpose of
628+saving private funds to support an individual with a disability. The terms
629+and phrases used in this paragraph shall have the meaning respectively
630+ascribed thereto by the provisions of K.S.A. 75-643 and 75-652, and
631+amendments thereto, and the provisions of such sections are hereby
632+incorporated by reference for all purposes thereof. For all taxable years
633+beginning after December 31, 2022, contributions made to a qualified
634+tuition program account or a qualified ABLE program account pursuant
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678+to this paragraph on and after January 1 but prior to the date required for
679+filing a return pursuant to K.S.A. 79-3221, and amendments thereto, of the
680+successive taxable year may be elected by the taxpayer to apply to the
681+prior taxable year if such election is made at the time of filing the return.
682+No contribution shall be used as a modification pursuant to this
346683 paragraph in more than one taxable year.
347684 (xvi) For all taxable years beginning after December 31, 2004,
348685 amounts received by taxpayers who are or were members of the armed
349-forces of the United States, including service in the Kansas army and
350-air national guard, as a recruitment, sign up or retention bonus received
351-by such taxpayer as an incentive to join, enlist or remain in the armed
352-services of the United States, including service in the Kansas army and
353-air national guard, and amounts received for repayment of educational
354-or student loans incurred by or obligated to such taxpayer and received
355-by such taxpayer as a result of such taxpayer's service in the armed SENATE BILL No. 360—page 7
356-forces of the United States, including service in the Kansas army and
357-air national guard.
686+forces of the United States, including service in the Kansas army and air
687+national guard, as a recruitment, sign up or retention bonus received by
688+such taxpayer as an incentive to join, enlist or remain in the armed services
689+of the United States, including service in the Kansas army and air national
690+guard, and amounts received for repayment of educational or student loans
691+incurred by or obligated to such taxpayer and received by such taxpayer as
692+a result of such taxpayer's service in the armed forces of the United States,
693+including service in the Kansas army and air national guard.
358694 (xvii) For all taxable years beginning after December 31, 2004,
359695 amounts received by taxpayers who are eligible members of the Kansas
360696 army and air national guard as a reimbursement pursuant to K.S.A. 48-
361697 281, and amendments thereto, and amounts received for death benefits
362698 pursuant to K.S.A. 48-282, and amendments thereto, to the extent that
363699 such death benefits are included in federal adjusted gross income of the
364700 taxpayer.
365701 (xviii) For the taxable year beginning after December 31, 2006,
366702 amounts received as benefits under the federal social security act which
367703 are included in federal adjusted gross income of a taxpayer with federal
368704 adjusted gross income of $50,000 or less, whether such taxpayer's filing
369-status is single, head of household, married filing separate or married
370-filing jointly; and for all taxable years beginning after December 31,
371-2007, amounts received as benefits under the federal social security act
372-which are included in federal adjusted gross income of a taxpayer with
373-federal adjusted gross income of $75,000 or less, whether such
374-taxpayer's filing status is single, head of household, married filing
375-separate or married filing jointly.
376-(xix) Amounts received by retired employees of Washburn
377-university as retirement and pension benefits under the university's
378-retirement plan.
705+status is single, head of household, married filing separate or married filing
706+jointly; and for all taxable years beginning after December 31, 2007,
707+amounts received as benefits under the federal social security act which
708+are included in federal adjusted gross income of a taxpayer with federal
709+adjusted gross income of $75,000 or less, whether such taxpayer's filing
710+status is single, head of household, married filing separate or married filing
711+jointly.
712+(xix) Amounts received by retired employees of Washburn university
713+as retirement and pension benefits under the university's retirement plan.
379714 (xx) For taxable years beginning after December 31, 2012, and
380715 ending before January 1, 2017, the amount of any: (1) Net profit from
381716 business as determined under the federal internal revenue code and
382717 reported from schedule C and on line 12 of the taxpayer's form 1040
383718 federal individual income tax return; (2) net income, not including
384719 guaranteed payments as defined in section 707(c) of the federal internal
385-revenue code and as reported to the taxpayer from federal schedule K-
386-1, (form 1065-B), in box 9, code F or as reported to the taxpayer from
387-federal schedule K-1, (form 1065) in box 4, from rental real estate,
388-royalties, partnerships, S corporations, estates, trusts, residual interest
389-in real estate mortgage investment conduits and net farm rental as
390-determined under the federal internal revenue code and reported from
391-schedule E and on line 17 of the taxpayer's form 1040 federal
392-individual income tax return; and (3) net farm profit as determined
393-under the federal internal revenue code and reported from schedule F
394-and on line 18 of the taxpayer's form 1040 federal income tax return;
395-all to the extent included in the taxpayer's federal adjusted gross
396-income. For purposes of this subsection, references to the federal form
397-1040 and federal schedule C, schedule E, and schedule F, shall be to
398-such form and schedules as they existed for tax year 2011 and as
399-revised thereafter by the internal revenue service.
720+revenue code and as reported to the taxpayer from federal schedule K-1,
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764+(form 1065-B), in box 9, code F or as reported to the taxpayer from federal
765+schedule K-1, (form 1065) in box 4, from rental real estate, royalties,
766+partnerships, S corporations, estates, trusts, residual interest in real estate
767+mortgage investment conduits and net farm rental as determined under the
768+federal internal revenue code and reported from schedule E and on line 17
769+of the taxpayer's form 1040 federal individual income tax return; and (3)
770+net farm profit as determined under the federal internal revenue code and
771+reported from schedule F and on line 18 of the taxpayer's form 1040
772+federal income tax return; all to the extent included in the taxpayer's
773+federal adjusted gross income. For purposes of this subsection, references
774+to the federal form 1040 and federal schedule C, schedule E, and schedule
775+F, shall be to such form and schedules as they existed for tax year 2011
776+and as revised thereafter by the internal revenue service.
400777 (xxi) For all taxable years beginning after December 31, 2013,
401778 amounts equal to the unreimbursed travel, lodging and medical
402-expenditures directly incurred by a taxpayer while living, or a
403-dependent of the taxpayer while living, for the donation of one or more
404-human organs of the taxpayer, or a dependent of the taxpayer, to
405-another person for human organ transplantation. The expenses may be
406-claimed as a subtraction modification provided for in this section to the
407-extent the expenses are not already subtracted from the taxpayer's
408-federal adjusted gross income. In no circumstances shall the subtraction
409-modification provided for in this section for any individual, or a
410-dependent, exceed $5,000. As used in this section, "human organ"
411-means all or part of a liver, pancreas, kidney, intestine, lung or bone
412-marrow. The provisions of this paragraph shall take effect on the day
413-the secretary of revenue certifies to the director of the budget that the
414-cost for the department of revenue of modifications to the automated SENATE BILL No. 360—page 8
415-tax system for the purpose of implementing this paragraph will not
416-exceed $20,000.
779+expenditures directly incurred by a taxpayer while living, or a dependent
780+of the taxpayer while living, for the donation of one or more human organs
781+of the taxpayer, or a dependent of the taxpayer, to another person for
782+human organ transplantation. The expenses may be claimed as a
783+subtraction modification provided for in this section to the extent the
784+expenses are not already subtracted from the taxpayer's federal adjusted
785+gross income. In no circumstances shall the subtraction modification
786+provided for in this section for any individual, or a dependent, exceed
787+$5,000. As used in this section, "human organ" means all or part of a liver,
788+pancreas, kidney, intestine, lung or bone marrow. The provisions of this
789+paragraph shall take effect on the day the secretary of revenue certifies to
790+the director of the budget that the cost for the department of revenue of
791+modifications to the automated tax system for the purpose of
792+implementing this paragraph will not exceed $20,000.
417793 (xxii) For taxable years beginning after December 31, 2012, and
418-ending before January 1, 2017, the amount of net gain from the sale of:
419-(1) Cattle and horses, regardless of age, held by the taxpayer for draft,
794+ending before January 1, 2017, the amount of net gain from the sale of: (1)
795+Cattle and horses, regardless of age, held by the taxpayer for draft,
420796 breeding, dairy or sporting purposes, and held by such taxpayer for 24
421797 months or more from the date of acquisition; and (2) other livestock,
422798 regardless of age, held by the taxpayer for draft, breeding, dairy or
423-sporting purposes, and held by such taxpayer for 12 months or more
424-from the date of acquisition. The subtraction from federal adjusted
425-gross income shall be limited to the amount of the additions recognized
426-under the provisions of subsection (b)(xix) attributable to the business
427-in which the livestock sold had been used. As used in this paragraph,
428-the term "livestock" shall not include poultry.
799+sporting purposes, and held by such taxpayer for 12 months or more from
800+the date of acquisition. The subtraction from federal adjusted gross income
801+shall be limited to the amount of the additions recognized under the
802+provisions of subsection (b)(xix) attributable to the business in which the
803+livestock sold had been used. As used in this paragraph, the term
804+"livestock" shall not include poultry.
429805 (xxiii) For all taxable years beginning after December 31, 2012,
430806 amounts received under either the Overland Park, Kansas police
431-department retirement plan or the Overland Park, Kansas fire
432-department retirement plan, both as established by the city of Overland
433-Park, pursuant to the city's home rule authority.
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850+department retirement plan or the Overland Park, Kansas fire department
851+retirement plan, both as established by the city of Overland Park, pursuant
852+to the city's home rule authority.
434853 (xxiv) For taxable years beginning after December 31, 2013, and
435-ending before January 1, 2017, the net gain from the sale from
436-Christmas trees grown in Kansas and held by the taxpayer for six years
437-or more.
854+ending before January 1, 2017, the net gain from the sale from Christmas
855+trees grown in Kansas and held by the taxpayer for six years or more.
438856 (xxv) For all taxable years commencing after December 31, 2020,
439857 100% of global intangible low-taxed income under section 951A of the
440858 federal internal revenue code of 1986, before any deductions allowed
441859 under section 250(a)(1)(B) of such code.
442860 (xxvi) For all taxable years commencing after December 31, 2020,
443861 the amount disallowed as a deduction pursuant to section 163(j) of the
444862 federal internal revenue code of 1986, as in effect on January 1, 2018.
445-(xxvii) For taxable years commencing after December 31, 2020,
446-the amount disallowed as a deduction pursuant to section 274 of the
447-federal internal revenue code of 1986 for meal expenditures shall be
448-allowed to the extent such expense was deductible for determining
449-federal income tax and was allowed and in effect on December 31,
450-2017.
451-(xxviii) For all taxable years beginning after December 31, 2021:
452-(1) The amount contributed to a first-time home buyer savings account
863+(xxvii) For taxable years commencing after December 31, 2020, the
864+amount disallowed as a deduction pursuant to section 274 of the federal
865+internal revenue code of 1986 for meal expenditures shall be allowed to
866+the extent such expense was deductible for determining federal income tax
867+and was allowed and in effect on December 31, 2017.
868+(xxviii) For all taxable years beginning after December 31, 2021: (1)
869+The amount contributed to a first-time home buyer savings account
453870 pursuant to K.S.A. 2023 Supp. 58-4903, and amendments thereto, in an
454871 amount not to exceed $3,000 for an individual or $6,000 for a married
455-couple filing a joint return; or (2) amounts received as income earned
456-from assets in a first-time home buyer savings account. For all taxable
457-years beginning after December 31, 2022, contributions made to a
458-first-time home buyer savings account pursuant to subparagraph (1) on
459-and after January 1 but prior to the date required for filing a return
460-pursuant to K.S.A. 79-3221, and amendments thereto, of the successive
461-taxable year may be elected by the taxpayer to apply to the prior
462-taxable year if such election is made at the time of filing the return. No
463-contribution shall be used as a modification pursuant to subparagraph
464-(1) in more than one taxable year.
465-(d) There shall be added to or subtracted from federal adjusted
466-gross income the taxpayer's share, as beneficiary of an estate or trust, of
467-the Kansas fiduciary adjustment determined under K.S.A. 79-32,135,
468-and amendments thereto.
872+couple filing a joint return; or (2) amounts received as income earned from
873+assets in a first-time home buyer savings account. For all taxable years
874+beginning after December 31, 2022, contributions made to a first-time
875+home buyer savings account pursuant to subparagraph (1) on and after
876+January 1 but prior to the date required for filing a return pursuant to
877+K.S.A. 79-3221, and amendments thereto, of the successive taxable year
878+may be elected by the taxpayer to apply to the prior taxable year if such
879+election is made at the time of filing the return. No contribution shall be
880+used as a modification pursuant to subparagraph (1) in more than one
881+taxable year.
882+(d) There shall be added to or subtracted from federal adjusted gross
883+income the taxpayer's share, as beneficiary of an estate or trust, of the
884+Kansas fiduciary adjustment determined under K.S.A. 79-32,135, and
885+amendments thereto.
469886 (e) The amount of modifications required to be made under this
470-section by a partner which relates to items of income, gain, loss,
471-deduction or credit of a partnership shall be determined under K.S.A.
472-79-32,131, and amendments thereto, to the extent that such items affect
473-federal adjusted gross income of the partner. SENATE BILL No. 360—page 9
474-Sec. 3. K.S.A. 75-644 and K.S.A. 2023 Supp. 79-32,117 are
475-hereby repealed.
887+section by a partner which relates to items of income, gain, loss, deduction
888+or credit of a partnership shall be determined under K.S.A. 79-32,131, and
889+amendments thereto, to the extent that such items affect federal adjusted
890+gross income of the partner.
891+Sec. 3. K.S.A. 75-644 and K.S.A. 2023 Supp. 79-32,117 are hereby
892+repealed.
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935+43 SB 360 12
476936 Sec. 4. This act shall take effect and be in force from and after its
477937 publication in the Kansas register.
478-I hereby certify that the above BILL originated in the
479-SENATE, and passed that body
480-_________________________
481- _________________________
482-President of the Senate.
483-_________________________
484-Secretary of the Senate.
485-
486-Passed the HOUSE ________________________
487- _________________________
488-Speaker of the House.
489-_________________________
490-Chief Clerk of the House.
491-APPROVED ____________________________
492-_________________________
493-Governor.
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