Senator Rick Billinger Newsletter
March 14, 2022
TOPEKA - Last week we passed the budget out of Ways and Means. On Tuesday debate will be held on the Senate floor to pass said budget. Next week I will let you know the highlights of the budget passed out of the Senate.
The Senate confirmed Janet Stanek as Secretary of Kansas Department of Health and Environment and Angela Coble to the Kansas Court of Appeals.
It is fiscally responsible to use one-time money to pay off debt. Given the influx of federal funds, Republicans are leading the effort to reduce the state’s debt and meet our obligation to retirees. SB523 passed the Senate and will authorize the transfer of $1.0 billion from the State General Fund to the Kansas Public Employees Retirement System (KPERS) Trust fund in four scheduled payments. Of that amount, $600 million would be transferred in FY 2022 in two installments - $300.0 million on the effective date of the bill and $300.0 million on June 1, 2022. The remaining $400.0 million would be $200.0 million on October 1, 2022, and $200.0 million on January 1, 2023, with the State Finance Council’s approval after reviewing the State’s financial position.
A tax package was approved by the Senate, which offers a series of tax credits in addition to property tax relief for Kansans. The components include:
*Aviation Tax Credit which will allow employers whose principal business activity involves the aviation sector to receive a nonrefundable income tax credit beginning, tax year 2023, for tuition or certain program specific course-fee reimbursements paid to a full-time “qualified employee,” as defined by the bill, who has graduated from an accredited engineering or technology undergraduate or graduate degree program, an associate of applied science degree program, or career technical program.
*Kansas Housing Investor Tax Credit is to facilitate investment in suitable housing that will support the growth of communities lacking housing by attracting new employees, residents and families and will support the development and expansion of businesses that are job and wealth creating enterprises.
*Kansas Affordable Housing Tax Credit Act will create tax credits for individual, person, firm, corporation or other entity owning as interest in a “qualified development” and subject to applicable Kansas taxes. Qualified developments would be low-income housing projects.
*Teacher Classroom Supplies Tax Credits will create an individual income tax credit for public or private school teachers residing in Kansas equal to the taxpayer’s expenditures for school and classroom supplies during the year. The credit would be effective beginning in tax year 2022 and would be limited to $250 per year.
*Homestead Property Tax Refund Claims will provide for refund claims to be paid to claimants who are at least 65 years old or a disabled veteran, reside in a homestead with an appraisal value of $350,000 or less for the entire year, and have a household income of $50,000 or less. The $50,000 amount would be annually adjusted by the cost of living.
*Residential Property Tax Exemption will increase the amount of the residential exemption from the 20 mills uniform statewide school finance property tax levy from $20,000 of valuation to $65,000 of valuation beginning in tax year 2022 and provide for the amount to be increased in future tax years according to the average percentage change in statewide residential real property for the preceding 10 tax years.
I am honored and grateful to represent the 40th Senate District in Kansas. Please do not hesitate to contact me by email: [email protected] or call me with your questions or concerns, my office number is 785 296-7399 or my cell is 785 899-4700. If you are in Topeka, stop by my office at 545-S.
Rick Billingr, R-Goodland, is the 40th district senator which includes:
Cheyenne, Decatur, Ellis, Gove, Graham, Logan, Norton, Rawlins, Sheridan, Sherman, Thomas, Trego and Wallace Counties
Phillips County: Cities: Logan, Long Island, Prairie View, Speed; Townships: Beaver, Belmont, Dayton, Granite, Logan,
Long Island, Mound, Plainview, Prairie View, Solomon(part) and Towanda