Housing Committee on Taxation: SB 35 Hearing

Kansas Senate Bill 35 (SB35)

Room: 346-S

Virtual Link: https://www.youtube.com/live/46hfuvwUXuo?si=hdzE6DB6T9KTIuxI

The bill proposes significant changes to property taxation in Kansas by discontinuing the state tax levies for the Kansas educational building fund and the state institutions building fund. It introduces a new state tax of 1 mill on all tangible property subject to ad valorem taxation, which will be used for the benefit of state institutions of higher education. The bill also amends existing statutes to facilitate the transfer of funds from the state general fund to the Kansas educational building fund, increasing the amount from $50 million to $56 million starting July 1, 2026, and establishing a mechanism for annual transfers based on the average percentage change in statewide residential property valuation over the preceding ten years.

Additionally, the bill repeals several existing sections related to the previous tax levies and their associated funds, effectively streamlining the funding process…