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Minutes for HB2761 - Committee on Taxation
Short Title
Allowing an individual to itemize deductions in Kansas despite not itemizing on their federal return.
Minutes Content for Wed, Mar 14, 2018
Mr. Wells provided an overview on HB2761 stating it allows the taxpayer to use itemized deductions on the State Income Tax Return regardless if they use itemized deductions on the Federal Income Tax Return beginning in 2018. Mr. Wells stood for questions from the Committee.
Ms. Smith provided an overview on the fiscal impact for HB2761 stating for FY2019 it would be $34.5 million. Currently there are around 80 to 82 percent of Kansas taxpayers that take the standard deduction and the remaining percentage would claim itemized deductions. At the Federal level it is 75 percent that claims the standard deduction and 25 percent take itemized deductions on their Federal Tax Return. The assumption was made on this bill the percentages would closely mirror what is happening at the Federal level. Ms. Smith stood for questions from the Committee.
Patrick Vogelsberg, Kansas Association of Realtors testified as a proponent for HB2761 (Attachment 6). Mr. Vogelsberg stood for questions from the Committee.
Sean Miller, Kansas Building Industry Association testified as a proponent for HB2761 (Attachment 7). Mr. Miller stood for questions from the Committee.
Eric Stafford, Kansas Chamber presented written testimony as a proponent for HB2761 (Attachment 8)
Heidi Holliday, Kansas Center for Economic Growth presented written testimony as neutral for HB2761. (Attachment 9)
Hearing closed on HB2761.
