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12  AN ACT relating to income taxation; providing a credit therefrom for
13    certain adoption expenses. relating to property taxation; exempt-
14    ing residential property from certain school levies; repealing
15    section 11 of 1997 House Bill No. 2031.
16  
17  Be it enacted by the Legislature of the State of Kansas:
18    Section 1.  (a) For all taxable years commencing after December 31,
19  1996, there shall be allowed as a credit against the tax liability of a resident
20  individual imposed under the Kansas income tax act an amount equal to
21  50% of the amount of the credit allowed against such taxpayer's federal
22  income tax liability pursuant to section 23 [determined without regard
23  to subsection (c) thereof] of the federal internal revenue code for the
24  taxable year in which such credit was claimed against the taxpayer's fed-
25  eral income tax liability.
26    (b)  The credit allowed by subsection (a) shall not exceed the amount
27  of the tax imposed by K.S.A. 79-32,110, and amendments thereto, re-
28  duced by the sum of any other credits allowable pursuant to law.
29    [(b) For all taxable years commencing after December 31, 1996,
30  there shall be allowed as a credit against the tax liability of a resi-
31  dent individual imposed under the Kansas income tax act an amount
32  equal to $3,000 for the taxable year in which occurs the lawful
33  adoption of a child in the custody of the secretary of social and
34  rehabilitation services or a child with special needs, whether or not
35  such individual is reimbursed for all or part of qualified adoption
36  expenses or has received a public or private grant therefor. As used
37  in this subsection, terms and phrases shall have the meanings as-
38  cribed thereto by the provisions of section 23 of the federal internal
39  revenue code. No credit shall be allowed under subsection (a) for
40  any qualified adoption expenses incurred in the adoption of a child
41  described by this subsection.
42    [(c)  The credit allowed by subsections (a) and (b) shall not ex-
43  ceed the amount of the tax imposed by K.S.A. 79-32,110, and amend-
SB 41--Am. by H
                                     

 1  ments thereto, reduced by the sum of any other credits allowable
 2  pursuant to law. If the amount of such tax credit exceeds the tax-
 3  payer's income tax liability for such taxable year, the amount
 4  thereof which exceeds such tax liability may be carried over for
 5  deduction from the taxpayer's income tax liability in the next suc-
 6  ceeding taxable year or years until the total amount of the tax cred-
 7  its has been deducted from tax liability, except that no such tax
 8  credit shall be carried over for deduction after the fifth taxable year
 9  succeeding the taxable year in which the credit was claimed.]
10    Sec. 2.  This act shall take effect and be in force from and after its
11  publication in the statute book.
12    Section 1.  For taxable years 1997 and 1998, the following de-
13  scribed property, to the extent herein specified, shall be and is
14  hereby exempt from the property tax levied pursuant to the pro-
15  visions of K.S.A. 1996 Supp. 72-6431, and amendments thereto:
16  Property used for residential purposes to the extent of $20,000 of
17  its appraised valuation.
18    Sec. 2.  Section 11 of 1997 House Bill No. 2031 is hereby re-
19  pealed.
20    Sec. 3.  This act shall take effect and be in force from and after
21  its publication in the Kansas register.