Kansas SB 72: Adding an exception to the hearsay rule to allow admission of statements made to a translator without the testimony of the translator.

Bill Text

Session of 2025
SENATE BILL No. 72
By Committee on Assessment and Taxation
1-23
AN ACT concerning income taxation; relating to the Kansas housing
investor tax credit; providing for transferability of credits from the year
that the credit was originally issued; amending K.S.A. 2024 Supp. 79-
32,313 and repealing the existing section.
Be it enacted by the Legislature of the State of Kansas:
Section 1. K.S.A. 2024 Supp. 79-32,313 is hereby amended to read as
follows: 79-32,313. (a) (1) For tax year 2022 and all tax years thereafter, a
credit against the income tax liability imposed pursuant to the Kansas
income tax act, the privilege tax liability imposed upon any national
banking association, state bank, trust company or savings and loan
association pursuant to article 11 of chapter 79 of the Kansas Statutes
Annotated, and amendments thereto, or the premium tax liability imposed
upon an insurance company pursuant to K.S.A. 40-252, and amendments
thereto, shall be allowed to:
(A) A qualified investor for a cash investment in a qualified housing
project that has been approved and issued a tax credit by the director. The
tax credit may be claimed in its entirety in the taxable year the cash
investment is made; and
(B) a project builder or developer of a qualified housing project that
has been approved and issued a tax credit by the director.
(2) To claim such tax credit, the qualified investor, project builder or
developer or transferee shall provide all information or documentation in
the form and manner required by the secretary of revenue. If the amount of
the credit exceeds the taxpayer's tax liability in any one taxable year, the
remaining portion of the credit may be carried forward in the succeeding
taxable years until the total amount of the credit is used, except that no
credit may be claimed after four taxable years next succeeding the taxable
year that such credit was issued, and any remaining credit shall be
forfeited. Any portion of the credit that is carried forward may be
transferred pursuant to subsection (d) and claimed by the transferee in the
same manner as the transferor.
(b) (1) Tax credits may be issued by the director for a qualified
housing project as follows:
(A) For qualified housing projects located in a county with a
population of not more than 8,000, in an amount of not to exceed $35,000
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SB 72 2
per residential unit;
(B) for qualified housing projects located in a county with a
population of more than 8,000 but not more than 25,000, in an amount of
not to exceed $32,000 per residential unit; and
(C) for all other qualified housing projects, in an amount of not to
exceed $30,000.
(2) A qualified housing project shall be limited to a total of 40 such
residential units per year for both single-family and multi-family
dwellings.
(3) Tax credits may be issued to a qualified investor in the amount of
a cash investment of up to the total amount that may be issued by the
director under this subsection for the qualified housing project, or as
provided in the agreement required by K.S.A. 2024 Supp. 79-32,312, and
amendments thereto. Project builders or developers may apply to the
director each year for tax credits for additional units or phases of a project.
Qualified investors may be issued tax credits for cash investments in
multiple qualified housing projects. Project builders or developers may
apply and be approved for multiple qualified housing projects in the same
tax year.
(4) The aggregate amount of tax credits that may be issued under this
section shall not exceed $13,000,000 each tax year, except that if the
director issues an aggregate amount of tax credits in one tax year that is
less than $13,000,000, then the director may carry forward the difference
and issue such amount of tax credits in the immediately succeeding tax
year in addition to the statutory amount that may be issued under this
section. Of the aggregate amount of tax credits issued in one tax year, the
director shall allocate:
(A) Not less than $2,500,000 in tax credits for qualified housing
projects located in counties with a population of not more than 8,000;
(B) not less than $2,500,000 in tax credits for qualified housing
projects located in counties with a population of more than 8,000 but not
more than 25,000; and
(C) up to $8,000,000 in tax credits for qualified housing projects
located in counties with a population of more than 25,000 but not more
than 75,000.
(c) A cash investment in a qualified housing project shall be deemed
to have been made on the date of acquisition of the qualified security, as
such date is determined by the director.
(d) Any qualified investor who receives a tax credit pursuant to this
section shall be deemed to acquire an interest in the nature of a
transferable credit limited to the amount of the credit issued to the
qualified investor by the director. All or a portion of such credit m