§ 79-32,315 — Annual report; contents

Kansas § 79-32,315

• Jurisdiction: Kansas
• Ch. 79: TAXATION
• Art. 32: INCOME TAX

Text

(a) On or before January 31, 2023, and on or before January 31 of each year thereafter, the director shall transmit a report annually to the governor, the standing committee on commerce of the senate and the standing committee on commerce, labor and economic development of the house of representatives. Such report shall be based upon information received from each qualified housing project for which tax credits have been issued during the preceding year and shall describe the following:
(1) The manner in which the purpose, as described in this act, has been carried out;
(2) the total cash investments made for qualified securities in qualified housing projects during the preceding year and cumulatively since the enactment of this act;
(3) an estimate of jobs facilitated by housing developed through such investments; and
(4) an estimate of the multiplier effect on the Kansas economy of the investments. The amount of tax credits claimed in the previous fiscal year; a general description of the investors that benefited from the tax credits; and any aggregate job creation or capital investment in Kansas that resulted from the tax credits for a period of five years beginning from the date on which the tax credits were issued.
(b) The director shall conduct an annual review of the activities undertaken pursuant to this act to ensure that tax credits issued pursuant to this act are issued in compliance with the provisions of this act and rules and regulations adopted by the director.

Legislative History

L. 2022, ch. 85, § 12; July 1.