Session of 1998
HOUSE BILL No. 3002
By Committee on Taxation
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AN ACT relating to economic development tax
incentives; concerning
10 reports of Kansas,
Inc. relating thereto; amending K.S.A. 1997 Supp.
11 74-8017 and repealing
the existing section.
12
13 Be it enacted by the Legislature of the
State of Kansas:
14 Section 1. K.S.A.
1997 Supp. 74-8017 is hereby amended to read as
15 follows: 74-8017. (a) It shall be
the duty of Kansas, Inc. to prepare an
16 annual report evaluating the cost
effectiveness of the various income tax
17 credits and sales tax exemptions enacted to
encourage economic devel-
18 opment within this state and submit the
same to the standing committees
19 on taxation and economic development of the
house and assessment and
20 taxation and commerce of the senate at the
beginning of each regular
21 session of the legislature.
The For the purpose of conducting a
confiden-
22 tial survey in order to properly prepare
such report, the secretary of
23 revenue shall develop a
questionnaire on the utilization of state income
24 tax credits and sales tax
exemptions that shall be completed by all cor-
25 porate taxpayers subject to state
income tax that shall be submitted to the
26 department of revenue concurrently
with the filing of an annual corporate
27 income tax return. The
questionnaire shall require respondents to indi-
28 cate utilization of
provide Kansas, Inc. with the name, address and tele-
29 phone number of any taxpayer
utilizing the following credits and exemp-
30 tions:
31 (1) Income tax credits
authorized under the provisions of the job
32 expansion and investment credit act
of 1976 and acts amendatory thereof
33 and supplemental
thereto;
34 (2) income tax
credits for expenditures in research and development
35 activities authorized by K.S.A. 79-32,182
and 79-32,182a, and amend-
36 ments thereto;
37 (3)
(2) income and financial institutions privilege tax
credits for cash
38 investment in stock of Kansas Venture
Capital, Inc. authorized by K.S.A.
39 74-8205 and 74-8206, and amendments
thereto;
40 (4)
(3) income tax credits for cash investment in certified
Kansas ven-
41 ture capital companies authorized by K.S.A.
74-8304, and amendments
42 thereto;
43 (5)
(4) income tax credits for cash investment in certified
local seed
HB 3002
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1 capital pools authorized by K.S.A.
74-8401, and amendments thereto;
2 (6)
(5) income tax credits for investment in the training
and education
3 of qualified firms' employees
authorized by K.S.A. 1997 Supp. 74-50,132,
4 and amendments thereto;
and
5 (7)
(6) sales tax exemptions for property or services
purchased for the
6 purpose of and in conjunction with
constructing, reconstructing, enlarg-
7 ing or remodeling a business, or
retail business meeting the requirements
8 of K.S.A. 74-50,115, and amendments
thereto, and machinery and equip-
9 ment for installation at such
business or retail business authorized by
10 subsection (ee) of K.S.A. 1993 Supp.
79-3606a, and amendments thereto;
11 and
12 (8) sales tax
exemptions for machinery and equipment used directly
13 and primarily for the purposes of
manufacturing, assembling, processing,
14 finishing, storing, warehousing or
distributing articles of tangible personal
15 property in this state intended for
resale by a manufacturing or processing
16 plant or facility or a storage,
warehousing or distribution facility. The
17 secretary of revenue shall provide
the completed questionnaires and cop-
18 ies of sales tax exemption
certificates to Kansas, Inc. for the preparation
19 of such report.
20 (b) In addition to
the above referenced information required with
21 respect to projects described by
subsection (a)(6), the secretary of revenue
22 shall provide the completed application
for the project sales tax exemption
23 certification submitted by the taxpayer
in conjunction with any such pro-
24 ject.
25 Sec. 2. K.S.A. 1997
Supp. 74-8017 is hereby repealed.
26 Sec. 3. This act
shall take effect and be in force from and after its
27 publication in the statute book.
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