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AN ACT concerning economic development; enacting the attracting powerful economic expansion act; relating to tax and other incentives for projects in specified industries or for a national corporate headquarters with specified capital investment requirements of at least $1,000,000,000; providing for a refundable income, privilege and premium tax credit for a portion of such investment; reimbursement of certain payroll costs and training and education costs; retention of certain payroll withholding taxes; sales tax exemption for project construction; adjusting the income tax on corporations by reducing the rate by 0.5% after a firm enters into an agreement under this act; limiting the number of agreements under this act with a qualified firm to one per year for two years; requiring state finance council approval of agreements and certain benefit provisions; providing for reports to legislative committees; establishing the attracting powerful economic expansion payroll incentive fund, the attracting powerful economic expansion new employee training and education fund and the attracting powerful economic expansion Kansas residency incentive fund; amending K.S.A. 79-32,110 and K.S.A. 2021 Supp. 79-3606 and repealing the existing sections.
(printable version)
Senate - Emergency Final Action - Passed as amended; - 01/27/2022
On roll call the vote was:
Yea - (32):
Alley,
Billinger,
Bowers,
Claeys,
Corson,
Dietrich,
Doll,
Erickson,
Fagg,
Faust-Goudeau,
Francisco,
Gossage,
Haley,
Hawk,
Holland,
Holscher,
Kerschen,
Kloos,
Longbine,
Masterson,
McGinn,
O'Shea,
Olson,
Petersen,
Pettey,
Pittman,
Pyle,
Ryckman,
Sykes,
Ware,
Warren,
Wilborn,
Nay - (7):
Baumgardner,
Hilderbrand,
Peck,
Steffen,
Straub,
Thompson,
Tyson,
Present and Passing - (0):
Absent and Not Voting - (1):
Suellentrop,
Not Voting - (0):
