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Minutes for HB2096 - Committee on Taxation
Short Title
Providing for transferability of Kansas housing investor tax credits from the year that the credit was originally issued.
Minutes Content for Mon, Feb 3, 2025
Chairperson Smith opened the hearing for HB2096.
Adam Siebers, Office of Revisor of Statutes, provided an overview for HB2096 providing that Kansas housing investor tax credits will be transferable from the year that the credit was originally issued (Attachment 1). Mr. Siebers stood for questions from Committee members.
Kathleen Smith, Kansas Department of Revenue, stated there will be no fiscal impact with the changes of HB2096. Ms. Smith stood for questions from Committee members.
Proponents:
Alex Orel, Kansas Bankers Association,testified as a proponent for HB2096 noting the bill would make a technical change to the Kansas Housing Investor Tax Credit Program to allow the tax credit buyers to use the credits beginning the tax year they were issued instead of the year they were transferred (Attachment 2). Mr. Orel stood for questions from Committee members.
Tyler Holloman, Frontier Development Group and board member for Friends of Historic Preservation testified as a proponent for HB2096. The bill will enhance the usability of the credit as well as maximize its impact, fostering a more robust and dynamic economic environment for the rural communities (Attachment 3). Mr. Holloman stood for questions from Committee members.
Reily Goyne, Friends of Historic Preservation, testified as a proponent for HB2096 noting the bill changes the language to allow buyers of the tax credits to use the credits beginning the tax year they were issued rather than the year they were transferred; therefore, getting the full five years of carry forward (Attachment 4). Mr. Goyne stood for questions from Committee members.
In response to a question regarding the transaction of purchasing tax credits, Mr, Orel will provide the information to Committee members.
Written testimony as proponents for HB2096 was submitted by the following:
Alijah Rollins, and Nadia McMichael, Commerce Bank, (Attachment 5)
Mark Tomb, Kansas Association of Realtors, (Attachment 6)
Shawn Drew, Commerce Bank, Manhattan, (Attachment 7)
There were no neutral or opponent conferees for HB2096.
Chairperson Smith closed the hearing for HB2096.
