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Minutes for SB71 - Committee on Taxation
Short Title
Establishing income tax and privilege tax credits for contributions to the Eisenhower foundation.
Minutes Content for Wed, Mar 24, 2021
Chairperson Smith opened the hearing for SB71.
Adam Siebers, Assistant Revisor provided an overview for SB71 that would allow a taxpayer to receive a new non-refundable income tax credit for 50% of the total amount contributed to the Eisenhower Foundation beginning in tax year 2021 and to continue through tax year 2025. Individual income taxpayers would only be allowed to claim up to $25,000 per tax year, and corporation income and privilege taxpayers would only be able to claim $50,000 per tax year. The tax credit would be capped at $350,000 for any fiscal year and any unused tax credits would not be allowed to carry forward.
Mr. Siebers stood for questions from Committee members.
Kathleen Smith, Kansas Department of Revenue provided an overview on the fiscal note for SB71 indicating the bill would decrease the State General Fund revenues by $350,000 in FY 2022 and have a similar fiscal effect in future fiscal years.
Proponents:
Representative John Barker, 70th District testified as a proponent for SB71. (Attachment 1)
Representative Barker stood for questions from Committee members.
Meredith Sleichter, Executive Director, Eisenhower Foundation testified as a proponent for SB71 noting the burden of the tax credit is on the foundation who will be able to find donors who want to receive the tax credits. (Attachment 2)
In response to a question, Ms. Sleichter noted in Abilene and Dickinson County according to the Kansas Department of Wildlife, Parks and Tourism, visitors brought in $22.93 million in 2019. There were 147,000 visitors in 2019 that came to the Eisenhower museum that contributed to the economic impact.
Jessica Lucas, President, Friends of Cedar Crest Association requested an amendment to SB71 to include Friends of Cedar Crest Association under the same terms afforded the Eisenhower Foundation. (Attachment 3)
Ms. Lucas stood for questions from Committee members.
Mary Jean Eisenhower, granddaughter of Former President Dwight Eisenhower shared the family viewpoints for SB71 and a personal side of her grandfather. No testimony provided.
Ms. Eisenhower stood for questions from Committee members.
Merrill Eisenhower Atwater, son of Mary Jean Eisenhower and great grandson of Former President Dwight Eisenhower testified as a proponent for SB71 indicating the foundation has been working for sometime to get this bill through. He noted the educational aspect the library does by itself through the foundation is to educate kids all around Kansas every year. The foundation is not funded by the state or federal government but relies on the honor basis to operate which is a big difference between the two foundations. He stated SB71 should be a stand alone bill. No testimony provided.
Mr. Atwater stood for questions from Committee members.
Chairperson Smith closed the hearing for SB71.
