House Commerce, Labor, and Economic Development: HB 2119 Hearing
Thu, Feb 06
|Link Below


Time & Location
Feb 06, 2025, 1:30 PM
Link Below
About the Event
Hearing: Thursday, February 6, 2025, 1:30 PM Room 346-S
Virtual: https://www.youtube.com/watch?v=p9RGzme8to0
The bill amends the Kansas affordable housing tax credit act by discontinuing the tax credit effective July 1, 2025. It modifies K.S.A. 2024 Supp. 79-32,306 to specify that the credit will be available for taxable years ending on December 31, 2025, but no new allocations will be made after June 30, 2025. The bill also includes provisions for the Kansas Housing Resources Corporation (KHRC) to issue allocation certificates for qualified developments and outlines the process for pass-through entities to allocate credits among partners or members.
Additionally, the bill repeals the existing section of K.S.A. 2024 Supp. 79-32,306, effectively ending the program while allowing existing allocations to continue through their credit periods. The act will take effect upon publication in the statute book, ensuring that any credits awarded before the cutoff date will still be honored according to the terms…