Brief(1)
S.B. 43 would amend the Homestead Property Tax Refund Act to clarify that payments may be made from the homestead refund account to individuals claiming tax relief pursuant to a separate circuit breaker program enacted in 1997 (K.S.A. 79-4530).
Background
The Legislature in 1997 enacted a circuit breaker providing for refunds of a portion of property tax increases attributable to valuation increases of 75 percent or more for certain owner-occupied single-family residential property, provided the valuation growth is not due to improvements to the property.
The Department of Revenue requested introduction of this bill to clarify the source for the circuit breaker payments, since the 1997 legislation did not specify a funding source and specific appropriations have not been made for this purpose.
A fiscal note from the Budget Division indicated that the bill has no state or local fiscal impact.
The Senate Committee recommended that the bill be placed on the Consent Calendar.
1. *Supplemental notes are prepared by the Legislative Research Department and do not express legislative intent. The supplemental note and fiscal note for this bill may be accessed on the Internet at http://www.ink.org/public/legislative/bill_search.html.