Providing an individual income tax credit for certain residential solar and wind energy property expenditures, a subtraction modification to permit the carryforward of certain net operating losses for individuals and a subtraction modification for the federal work opportunity tax credit and the employee retention credit disallowances.
Exempting certain qualified tips from state income tax.
Including losses from investments in technology-enabled fiduciary financial institutions in Kansas adjusted gross income for income tax purposes.
Exempting all social security benefits from Kansas income tax.
Permitting the carryforward of certain net operating losses for individuals for Kansas income tax purposes and excluding social security payments from household income and increasing the appraised value and household income thresholds for eligibility of seniors and disabled veterans related to increased property tax homestead claims.
Enacting the adoption savings account act allowing individuals to establish adoption savings accounts with certain financial institutions, providing eligible expenses, requirements and restrictions for such accounts and establishing addition and subtraction modifications for contributions to such accounts under the Kansas income tax act, increasing the income tax credit amount for adoption expenses, establishing an income, privilege and premium tax credit for contributions to eligible charitable organizations operating pregnancy centers or residential maternity facilities and providing for a sales tax exemption for purchases by pregnancy resource centers and residential maternity facilities.
Increasing the income limit for the income tax subtraction modification for social security income and providing that all social security benefits qualify for the subtraction modification commencing in tax year 2026.
Allowing a taxpayer to elect the taxable year in which a subtraction modification for contributions to a 529 program account, ABLE account or first-time home buyer savings account would be applied and authorizing the state treasurer to appoint a 529 program advisory committee.