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Minutes for HB2610 - Committee on Taxation
Short Title
Providing an income tax subtraction modification for sales of property subject to eminent domain.
Minutes Content for Tue, Mar 12, 2024
Adam Siebers provided an overview for HB2610 that would provide a Kansas income tax subtraction modification applicable for tax year 2021 and thereafter for compensation from amounts received by the taxpayer who resides within ten miles of property used as a farm or ranch and ownership of the property was transferred pursuant to:
- An appraiser's award or final judgment and the property was taken by either the Kansas Department of Transportation or a public utility pursuant to the eminent domain procedure act, if such amounts are included in federal adjusted gross income of the taxpayer.
- The sale of the property to either the Kansas Department of Transportation or a public utility if such amounts are included in federal adjusted gross income of the taxpayer and such sale would otherwise be subject to a taking.
Committee discussion ensued.
Representative Eplee moved, seconded by Representative Helgerson, the Committee recommend HB2610 favorable for passage. Motion passed
Motion to Reconsider HB2757.
Chairperson Smith moved, seconded by Representative Helgerson, the Committee reconsider HB2757. Motion passed.
Chairperson Smith moved, seconded by Representative Hoheisel, to amend HB2757. Motion passed. (Attachment 14)
Representative Helgerson moved, seconded by Representative Butler, the Committee recommend HB2757 be passed as amended. Motion passed.
There being no further business, Chairperson Smith adjourned the meeting.
