Property tax relief, youth savings account bills advance
Key legislative committees advanced separate proposals aimed at providing property tax relief for qualifying individuals and establishing state-managed "born to invest" savings accounts for Kansas children.
TOPEKA, Kan. — Two bills focused on the financial well-being of Kansans at different stages of life cleared committee hurdles in the House on Monday. One proposal would offer property tax protections for vulnerable homeowners, while another would create state-sponsored investment accounts for newborns.
The House Committee on Taxation recommended passage of SB 402, which would modify the definition of household income for homestead property tax refunds, provide a single refund claim form and protect eligibility for claimants who must live away from their homestead because of health or hardship. The measure also would ensure homeowners do not lose eligibility for the SAFESR tax credit if their home's appraised value later exceeds $350,000 after qualifying in a prior year.
Meanwhile, the Committee on Federal and State Affairs advanced SB 260, known as the "born to invest act." The bill would require the office of vital statistics to share data with the state treasurer's office so informational materials about government-administered savings accounts can be distributed to families of newborns. The committee recommended replacing the original bill with a substitute version. Both bills now head to the full House for consideration.
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