Establishes a tax credit for endowment gifts to certain endowment funds held by qualified community foundations in Kansas.
The bill establishes the Endow Kansas Tax Credit Act, which provides tax credits for endowment gifts to certain endowment funds held by qualified community foundations in Kansas. To qualify, a taxpayer must make an irrevocable contribution of at least $500 to a qualified community foundation. The total credits allowed per tax year are capped at $3 million for 2026, $4 million for 2027, and $5 million for 2028, increasing annually thereafter.
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