----------------------------------------------------------------------------


10  AN ACT relating to income taxation; concerning rates of single-individual
11    taxpayers; amending K.S.A. 1996 Supp. 79-32,110 and repealing the
12    existing section. relating to debt limitations of certain municipal-
13    ities; repealing K.S.A. 79-5037.
14  
15  Be it enacted by the Legislature of the State of Kansas:
16    Section 1.  K.S.A. 1996 Supp. 79-32,110 is hereby amended to read
17  as follows: 79-32,110. (a) Resident Individuals. Except as otherwise pro-
18  vided by subsection (a) of K.S.A. 79-3220, and amendments thereto, a
19  tax is hereby imposed upon the Kansas taxable income of every resident
20  individual, which tax shall be computed in accordance with the following
21  tax schedules:
22    (1)  Married individuals filing joint returns.
23  If the taxable income is:
24  Not over $30,000
25  Over $30,000 but not over $60,000
26  Over $60,000
27    (2)  All other individuals.
28  (A)  For tax year 1997:
29  If the taxable income is:
30  Not over $20,000
31  Over $20,000 but not over $30,000
32  Over $30,000
33  (B)  For tax year 1998:
34  If the taxable income is:
35  Not over $15,000
36  Over $15,000 but not over $30,000
37  Over $30,000
38  (C)  For tax year 1999, and all tax years thereafter:
39  If the taxable income is:
40  Not over $15,000
41  Over $15,000 but not over $30,000
42  Over $30,000
SB 53--Am. by H
                                     

 1    (b)  Nonresident Individuals. A tax is hereby imposed upon the Kansas
 2  taxable income of every nonresident individual, which tax shall be an
 3  amount equal to the tax computed under subsection (a) as if the nonres-
 4  ident were a resident multiplied by the ratio of modified Kansas source
 5  income to Kansas adjusted gross income.
 6    (c)  Corporations. A tax is hereby imposed upon the Kansas taxable
 7  income of every corporation doing business within this state or deriving
 8  income from sources within this state. Such tax shall consist of a normal
 9  tax and a surtax and shall be computed as follows:
10    (1)  The normal tax shall be in an amount equal to 4% of the Kansas
11  taxable income of such corporation; and
12    (2)  the surtax shall be in an amount equal to 3.35% of the Kansas
13  taxable income of such corporation in excess of $50,000.
14    (d)  Fiduciaries. A tax is hereby imposed upon the Kansas taxable
15  income of estates and trusts at the rates provided in paragraph (2) of
16  subsection (a) hereof.
17    Sec. 2.  K.S.A. 1996 Supp. 79-32,110 is hereby repealed.
18    Section 1.  (a) The governing body of any taxing subdivision
19  may elect to have the bonded indebtedness limitation of the taxing
20  subdivision computed on the basis of a percentage of assessed val-
21  uation, which percentage is determined by dividing the amount of
22  indebtedness authorized for such taxing district in 1988 by the
23  assessed valuation of all tangible taxable property in the taxing
24  subdivision in 1989.
25    (b)  The board of trustees of any community college may elect
26  to have the bonded indebtedness limit of the district exceeded by
27  the amount of any general obligation bonded indebtedness ap-
28  proved by a majority of the voters of the district prior to the ef-
29  fective date of this act.
30    Sec. 2.  K.S.A. 79-5037 is hereby repealed.
31    Sec. 3.  This act shall take effect and be in force from and after its
32  publication in the statute book.