Approved: February 24, 2020 MINUTES of the HOUSE
Approved: February 24, 2020 MINUTES OF THE HOUSE TAXATION COMMITTEE The meeting was called to order by Chairperson Steven Johnson at 3:30 pm on Monday, February 03, 2020, in room 112-N of the Capitol. All members were present except: Representative John Barker – Excused Committee staff present: Adam Siebers, Office of Revisor of Statutes Amelia Kovar-Donohue, Office of Revisor of Statutes Charles Reimer, Office of Revisor of Statutes Chris Courtwright, Legislative Research Department J.G. Scott, Legislative Research Department Lea Gerard, Committee Assistant Reed Holwegner, Legislative Research Department Conferees appearing before the Committee: Kathleen Smith, Department of Revenue Pat Cedeno, WATCO Companies Mark Mickelson, CEO of Mickelson & Company Taylor Williamson, Kansas Wheat, Corn, Soybean,Kansas Grain and Sorghum Producers Shahira Stafford, Kansas Cooperative Council Randy Stookey, Kansas Grain and Feed Association. Ty Dragoo, International Association of Sheet Metal, Air, Rail and Transportation Workers Others in attendance: See Attached List Request for bill introductions There were no bill introductions. Hearing on: HB2460 — Providing an income tax credit for qualified railroad track maintenance expenditures of short line railroads. Adam Siebers provided an overview for HB2460 stating the bill creates a new income tax credit for qualified railroad track maintenance expenditures of short line railroads. The tax credit runs for five years beginning in tax year 2021 and ending in tax year 2025. The bill allows an income tax credit of 50.0% of eligible taxpayer's expenditures for qualified railroad track maintenance during the tax year. The total amount of tax credits would be capped at $8,720. million for each tax year.
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