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Minutes for SB104 - Committee on Taxation
Short Title
Enacting the Kansas taxpayer protection act; requiring the signature and tax identification number of paid tax return preparers on income tax returns; authorizing actions to enjoin paid tax return preparers from engaging in certain conduct; establishing the golden years homestead property tax freeze act providing refund for certain increases in residential property taxes and allowing homestead property tax refund for renters; and expanding the expense deduction to all taxpayers.
Minutes Content for Tue, Feb 11, 2020
Adam Siebers provided an overview of SB104 stating Section 7 thru 23 of the bill is called the golden years property freeze act. The bill applies to individuals 65 year of age or a disabled veteran. The household income is $50,000 or less and the appraised value of the homestead would be $350,000 or less. Homestead means the dwelling owned and occupied as a residence by the household and land surrounding as defined a homesite for ad valorem tax purposes. The eligible individual would have a base year when they become an eligible claimant and from then on the taxpayer would receive any gain on property taxes and the state would refund that amount.
Senator Holland, State Senator for the Kansas 3rd State Senate District testified as a proponent for SB104 stating there are two types of property owners which are individuals not retired and can afford the property tax payments; the second population are retired or physically disabled and living on a fixed income who are being taxed out of their homes. He noted the Golden Years Homestead Property Freeze Act would make Kansas more retirement friendly providing property tax certainty to the homeowner. Senator Holland provided an analysis of the fiscal impact for the Golden Years Program (Attachment 2) (Attachment 3).
Hearing closed for SB104.
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