Kansas 2023-2024 Regular Session

Kansas Senate Bill SB55

Introduced
1/18/23  
Refer
1/18/23  
Report Pass
3/8/23  
Engrossed
3/28/23  
Refer
3/28/23  

Caption

Substitute for SB 55 by Committee on Assessment and Taxation - Expanding and clarifying the property tax exemption for Strother field airport property.

Impact

The enactment of SB55 is expected to have a significant economic impact, as it encourages consumer spending during a critical shopping period for families. By lifting the burden of sales tax on essential back-to-school items, the bill seeks to boost local retailers during a seasonal peak in sales. Furthermore, it may help facilitate a more accessible shopping experience for families managing budget constrained by school-related expenses.

Summary

Senate Bill 55 establishes a sales tax holiday in Kansas that specifically exempts certain purchases made during the first weekend of August each year. The bill aims to support families by allowing for tax-free purchases on clothing and school supplies, ultimately helping to lessen the financial burden as students prepare for the academic year. Effective from July 1, 2023, eligible items include clothing items priced at $300 or less, school supplies and instructional materials priced up to $100, and computers or computer equipment under $2,000.

Contention

While supporters argue the bill provides necessary financial relief, some concerns have been raised about the potential revenue implications for state and local governments. The reduction in sales tax income could impact funding for essential services, thereby sparking debate among legislators and stakeholders about the balance between alleviating consumer burden and maintaining fiscal responsibility. Additionally, there may be discussions about the effectiveness of such tax holidays, with critics suggesting they disproportionately benefit higher-income families who can afford to shop for school needs in advance.

Companion Bills

No companion bills found.

Previously Filed As

KS SB117

Expanding the property tax exemption for Strother field airport property.

KS SB138

Expanding and clarifying the property tax exemption for Strother field airport property, increasing the extent of exemption for residential property from the statewide school levy, discontinuing the state tax levies for the Kansas educational building fund and the state institutions building fund and providing financing therefor from the state general fund.

KS HB2819

Senate Substitute for HB 2819 by Committee on Assessment and Taxation - Providing a sales tax exemption for exploration place, inc.

KS HB2317

Senate Substitute for HB 2317 by Committee on Assessment and Taxation - Providing a sales tax exemption for sales of over-the-counter drugs.

KS SB33

Substitute for SB 33 by Committee on Assessment and Taxation - Excluding exempt sales of certain custom meat processing services from exemption certificate requirements for sales tax purposes.

KS SB377

Substitute for SB 377 by Committee on Assessment and Taxation - Providing an income tax rate of 5.25% for individuals, increasing the income limit for the income tax subtraction modification for social security income, increasing the standard deduction by a cost-of-living adjustment, increasing the Kansas personal exemption, decreasing the privilege tax normal tax, establishing a 0% state rate for sales and use taxes for food and food ingredients on April 1, 2024, and increasing the extent of property tax exemption for residential property from the statewide school levy.

KS HB2609

Substitute for HB 2609 by Committee on Taxation - Providing a property tax exemption for new electric generation facilities and new pollution control devices and additions constructed or installed at electric generation facilities and discontinuing property tax exemptions for certain existing electric generation facilities.

KS AB1066

Property taxation: exemption: low-value properties.

KS SB127

House Substitute for SB 127 by Committee on Taxation - Reducing penalties for the late filing of or the failure to file property tax statements listing property for assessment and the discovery of escaped property and reporting changes after initial statement, decreasing the penalties for failing to timely remit withholding income taxes of employees by employers and providing a sales tax exemption for sales of property and services used in the provision of communications services.

KS SB169

House Substitute for SB 169 by Committee on Taxation - providing an income tax rate of 5.15% for individuals and decreasing the normal tax for corporations, increasing the income limit for the income tax subtraction modification for social security income, increasing the standard deduction by a cost-of-living adjustment, discontinuing the food sales tax credit, decreasing the privilege tax normal tax, establishing a 0% state rate for sales and use taxes for food and food ingredients on January 1, 2024, and increasing the extent of property tax exemption for residential property from the statewide school levy.

Similar Bills

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HI HB1398

Relating To Property.