REPORTS OF STANDING COMMITTEES
MR. SPEAKER:
The Committee on Taxation recommends HB 2011 be amended on page 1, following line 5, by inserting:
"Section 1. K.S.A. 2024 Supp. 72-5133a is hereby amended to read as follows: 72-5133a. (a) On August 15, 2024, and each August 15 thereafter, the director of the budget, in consultation with the director of property valuation, shall certify to the director of accounts and reports if the:
(1) Exemption provided by K.S.A. 79-201x, and amendments thereto, is increased from $42,049 for any tax year; or
(2) rate of ad valorem tax levied by a school district pursuant to K.S.A. 72-5142, and amendments thereto, is decreased from 20 mills.
(b) (1) The director of the budget shall certify to the director of accounts and reports and shall transfer a copy of such certification to the director of legislative research the amount of revenue that the:
(A) Increase in the exemption provided by K.S.A. 79-201x, and amendments thereto, would have generated for the tax year if the exemption amount was $42,049; and
(B) decrease in the rate of ad valorem tax levied by a school district pursuant to K.S.A. 72-5142, and amendments thereto, would have generated for the tax year if the tax rate levied would have been 20 mills.
(2) Upon receipt of such certification, or as soon thereafter as moneys are available, the director of accounts and reports shall transfer such certified amount from the state general fund to the state school district finance fund of the department of education.
6"; On page 2, following line 4, by inserting:"Sec. 3. K.S.A. 2024 Supp. 79-201x is hereby amended to read as follows: 79-201x. For taxable year 2024 2026, and all taxable years thereafter, the following described property, to the extent herein specified, shall be and is hereby exempt from the property tax levied pursuant to the provisions of K.S.A. 72-5142, and amendments thereto: Property used for residential purposes to the extent of $75,000 $100,000 of its appraised valuation.
5"; Also on page 2, in line 5, after "Supp." by inserting "72-5133a,"; also in line 5, by striking "is" and inserting "and 79-201x are"; And by renumbering sections accordingly; On page 1, in the title, in line 2, after the semicolon by inserting "increasing the extent of exemption for residential property from the statewide school levy; providing for certain transfers to the state school district finance fund;"; in line 3, after "Supp." by inserting "72-5133a,"; also in line 3, after "72-5142" by inserting "and 79-201x"; also in line 3, by striking "section" and inserting "sections"; and the bill be passed as amended._____________________________Chairperson