Signed by Governor Laura Kelly

Vote Smart's Synopsis:

Vote to adopt a conference report that repeals state property tax levies for the Kansas educational building fund and transfers appropriations from the general fund.

Highlights:

• Requires that the county treasurer make the proceeds of the tax levy provided for in this section available to the state treasurer immediately upon collection. When available, the state treasurer shall withdraw from each county the proceeds of the taxes raised by such tax levy. Upon such withdrawal, the state treasurer shall deposit the same in the state treasury and shall credit the same (Sec. 1).

• Specifies that all moneys received by the state treasurer shall be credited to the Kansas educational building fund to be used for the construction, reconstruction, equipment, and repair of buildings and grounds at the state educational institutions under the control and supervision of the state board of regents (Sec. 1).

• Authorizes the State Board of Regents to pledge funds appropriated to it from the Kansas educational building fund or any other source and transferred to a special revenue fund of the State Board of Regents specified by statute for the payment of debt service on revenue bonds issued for the purposes outlined in subsection above (Sec. 1). 

• Requires that on July 1, 2026, or as soon thereafter as moneys are available, $56 million shall be transferred by the director of accounts and reports from the state general fund to the Kansas educational building fund (Sec. 1).

Full Bill Text