SB386

Kansas SB386 allows tax credits for contributions to scholarship granting organizations and increases the tax credit limit for low-income students.

Kansas SB386 elects to participate in the federal tax credit for individual contributions to scholarship granting organizations and increases the aggregate tax credit limit on the tax credit for low-income students scholarship program. The bill allows a credit against the tax liability imposed upon a taxpayer for contributions to scholarship granting organizations. The credit is equal to 70% of the amount contributed for tax years after December 31, 2016, and before January 1, 2022, and 75% for tax years after December 31, 2022.