Chair Alley opened the hearing on SB429.  

Staff provided an overview of the bill. (Attachment 1)

Rachel Willis, Director of Legislative Affairs, Kansas Department of Commerce testified as a proponent of the bill. (Attachment 2)  She said the Kansas Angel Investor Tax Credit (KAITC) program provides significant value to startups across the state. The KAITC helps Kansas retain innovation value - ensuring companies are founded here, scale here, hire here, and contribute to the state's long-term economic development.  

Stephanie Moran, Senior Vice President of GO Topeka testified as a proponent of the bill. (Attachment 3)  She said Kansas has built real momentum in innovation and entrepreneurship and that now is not the time to step back. This bill keeps our state competitive, supports local investors, and gives startups the capital they need to stay and grow here.  

Written only Proponent testimony was submitted by:

• Eric Stafford, Vice President of Government Affairs, Kansas Chamber of Commerce (Attachment 4)
• Nicholas Love, MD, MBA, Co-Founder and CEO of Love Lifesciences, Inc. (Attachment 5)
• Greg Kindle, Kansas Economic Development Alliance (Attachment 6)

There was no neutral testimony or opponent testimony.

Chair Alley closed the hearing on SB429.