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Minutes for HB2045 - Committee on Commerce, Labor and Economic Development

Short Title

Revising the Kansas angel investor tax credit act with respect to the definition of qualified securities, tax credit limitations and amounts, investor requirements and extending the date that credits may be allowed.

Minutes Content for Wed, Jan 13, 2021

Chairperson Tarwater opened the hearing on HB2045.

Edward  Penner,  Research provided an overview of HB2045. 

At the request of the Chairperson, Post Auditor, Justin Stowe, delivered an overview of the Angel Investor Tax Credit Program

He stood for questions from committee members.  

The following conferees provided proponent testimony:

  • Representative Stephen Owens, District #74 State of Kansas House of Representatives(Attachment 1)
  • Nicholas Franano, MD; President and CEO, Artio Medical Inc.(Attachment 2)
  • David Soffer, Legislative & Policy Director, Kansas Department of Commerce ( Attachment 3)
  • Jeff Shackelford, President and CEO Enterprise Center in Johnson County (Attachment 4)
  • Kevin Walker, Senior Vice President of Public Policy, Overland Park Chamber of Commerce (Attachment 5)
  • Ryan Weber, President and CEO, KC Tech Council (Attachment 6)

The conferee stood for questions.

The following  provided written testimony as a proponent:

  • John Jenks, Director Public Policy, The Greater Kansas City Chamber of Commerce. (Attachment 7)
  • Dennis Ridenour, President & CEO, BioNexus KC.(Attachment 8)
  • Nikki Cheng, PhD. Co-Founder, Chief Scientific Officer, Fennik Life Sciences. (Attachment 9)

Dave Traebert, Kansas Policy Institute provided testimony as an Opponent.(Attachment 10)

There was no Neutral testimony.

The Chair closed the hearing on HB2045.

The meeting was adjourned. at 3:00 PM