Legislative Update by State Senator Caryn Tyson
February 10, 2023
Committee Work continues to be the major focus. The Senate Tax Committee that I chair, passed out several bills. Some of the bills that passed included exempting Social Security from income tax, increasing income tax standard deductions, and repealing the 1.5 mil of property taxes the state keeps and funding the 1.5 mil using State General Funds (SGF). The bills still need to pass the Senate and the House before the Governor must decide to veto or let become law.
Tax cut on Premium Taxes, a “sales” tax that insurers pay on premiums that they receive from their policy holders, passed the Senate unanimously. SB 25 would cut the premium tax from 6 percent to 4. It was reported that Kansas has one of highest premium tax rates in the nation. The cut will bring the tax rate more in line with other states.
Premium Taxes are due 90 days after the fiscal year end. However, SB 19 would change that so that premium taxes would be due 90 days after calendar year end. The bill passed the Senate unanimously.
Budgets are being worked in committees. It is frustrating as the information reported is minimal and legislators get a short timeframe to review the information. During a Commerce Committee hearing on the Department of Commerce budget, it was troubling to listen to the ways they are giving away taxpayer dollars. Especially since I hear from Kansans who are struggling to make ends meet because of taxes and the increased cost of necessities. Legislators have attempted to improve the budget process, but it is a battle against people who want to grow government and have control of the books. I am working with a few others on solutions and will keep you posted.
It is an honor and a privilege to serve as your 12th District State Senator.
Caryn
