House Status:
Senate Status:
Senate Status:
Minutes for SB67 - Committee on Financial Institutions and Insurance
Short Title
Granting state-chartered banks the power to purchase certain tax credits.
Minutes Content for Tue, Jan 31, 2017
The Chairperson opened the hearing on SB67. Elaine Ma presented a summary of the bill.
Kathy Taylor, KBA, presented testimony supporting SB67. KBA discovered that while Kansas tax law allows this historic tax credit to be used against the privilege tax liability, the Kansas banking code does not recognize it as a permissible activity. KBA requested the provision relating to the purchase of tax credits for the historic rehabilitation of buildings, and the limitation on the amount of tax credits that a state-chartered bank could hold be added to Kansas law. (Attachment 4) Ms. Taylor responded to questions from Senators Suellentrop and Pyle.
Chair Longbine pointed the committee's attention to the proponent written-only testimony of Shawn Mitchell, President and CEO, Community Bankers Association of Kansas. (Attachment 5)
There being no questions or discussion, and no other conferees or written-only testimony submitted, the Chairperson closed the hearing on SB67.
The business for the day completed, the meeting adjourned at 9:45 am. The next scheduled meeting is Wednesday, February 1, 2017 at 9:30 am.
