Archive for Wednesday, February 17, 2010

Statehouse Live: Senate OKs historic renovation tax credits

February 17, 2010, 9:09 a.m. Updated February 17, 2010, 9:10 a.m.

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— Kansas lawmakers continue to vote for more tax credits.

On Tuesday, the Kansas Senate increased the tax credit for historical renovation projects in a 29-7 vote. The measure, Senate Bill 430, now goes to the House.

The proposal would cost an estimated $5.7 million in the next fiscal year, officials said.

“This causes us to spend $5.7 million at a time when we don’t have $5.7 million,” said state Sen. John Vratil, R-Leawood, who voted against the measure.

Legislators have cut approximately $1 billion from a $6.4 billion state budget, and still face an estimated $400 million shortfall.

But state Sen. Les Donovan, R-Wichita, said the tax credits will stimulate historical renovations and create jobs.

In 2009, legislators capped the credits, which stalled many historic renovation projects, according to supporters of removing the cap.

Comments

Michael Sizemore 5 years, 2 months ago

Anyone who says it will force us "to spend" doesn't really understand how tax credits work...

billbodiggens 5 years, 2 months ago

Oh great, what state jobs and how many furloughs will this costs? How many needy people will be shoved under bridges? How many unemployed will be denied or delayed benefits and services? How many school teachers will have to be fired. How many good ol boys will benefit from this tax credit while other's are told to eat cake? Where did the extra money come from to fund this tax credit?

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