HB 2117 - Reduces Income Tax Rate - Key Vote
Kansas Key Votes
Legislation - Bill Failed With Amendment (Senate) (20-20) - March 21, 2012(Key vote)
Title: Reduces Income Tax Rate
Vote to pass a bill that reduces the individual income tax rate and re-designates the recipients of certain tax credits.
- Reduces the income tax rate for married individuals, filing a joint return, for tax year 2013 and all following tax years, in the following manner (Sec. 10):
- If their income is $30,000 or less, their rate is reduced from 3.5 percent to 3 percent;
- If their income is over $30,000, their rate is $900 plus 4.9% of their income over $30,00.
- Reduces the income tax rate for individuals, for tax year 2013 and all following tax years, in the following manner (Sec. 10):
- If their income is $15,000 or less, their rate is reduced from 3.5 percent to 3.0 percent;
- If their income is over $15,000, their rate is $450 plus 4.9 percent of excess over $15,000.
- Increases the standard tax deduction amount for tax year 2013 and all following tax years in the following manner (Sec. 14):
- For an individual filing under a married status, the amount is increased from $6,000 to $9,000;
- For an individual filing as a head of household, the amount is increased from $4,500 to $9,000.
- Prohibits taxpayers not subject to a corporate income tax from receiving the following existing tax credits beginning with the 2013 tax year (Secs. 1-4, 6-8, 18-25, 27-29):
- A tax credit for providing financial support to a person who is eligible for welfare and has entered into an agreement with the secretary of social and rehabilitation services for such aid;
- A tax credit for providing, on behalf of a regularly employed worker, health insurance or care and contributions to a health savings plan;
- A tax credit for contributions to an individual development account, in an amount equal to 25 percent of their contribution, not exceeding $6,250 in any fiscal year;
- A tax credit for 20 percent of the total cost of liability insurance paid by a registered agritourism operator active as of 2011, not exceeding $2,000;
- A tax credit equal to 25 percent of their investment in Kansas Venture Capital, Inc., not to exceed $10 million;
- A tax credit for investments in a technology-based venture-capital fund established by the Secretary of Commerce;
- A tax credit for placing the following types of property in the service of the state :
- Tangible property excluding anything with an applicable recovery period of 25 years; or
- Computer software;
- A tax credit for expenditures altering a facility or equipment to make it more accessible to employees with a disability in an amount equal to 50 percent of the expenditures or $10,000, whichever is less;
- A tax credit for expenditures in research and development activities conducted within the state;
- A tax credit for any necessary payments or provisions to a child day care service;
- A tax credit for expenditures to a qualified alternative-fueled motor vehicle or station;
- A tax credit in an amount equal to 50 percent of the costs incurred for required improvements to a “qualified swine facility”;
- A tax credit in an amount equal to 50 percent of expenditures made to plug any abandoned oil or gas well in accordance with state regulations, but not to exceed $250,000 in a fiscal year;
- A tax credit equal to the amount attributable to the retirement of indebtedness authorized by a single city port authority established before January 1, 2002, not exceeding $500,000 for a fiscal year, effective through 2021;
- A tax credit equal to expenditures made to a refinery to meet environmental regulations certified by the Secretary of Health and Environment.
NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.
Legislation - Bill Passed (House) (-) - March 21, 2011
Legislation - Introduced (House) - Jan. 27, 2011
Title: Reduces Income Tax Rate
- Taxation (Sponsor)