Kansas Statutes Annotated
Updated Through the 2013 Legislative Session

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Statute Number:74-8938
Chapter Title:STATE BOARDS, COMMISSIONS AND AUTHORITIES
Article Title:DEVELOPMENT FINANCE AUTHORITY
Tax Type:Corporate Income Tax; Individual Income Tax; Privilege
Brief Description:Same; collection and remittance of state and local sales
tax proceeds.
Keywords:


Body:

74-8938. Same; collection and remittance of state and local sales tax proceeds. (a) Until the date the bonds issued to finance the project undertaken in the project area have been paid in full, any revenue realized from sales tax from a countywide retailers' sales tax imposed and collected under K.S.A. 12-187 and amendments thereto, the state retailers' sales tax pursuant to K.S.A. 79-3603, and amendments thereto which have been certified by the director of taxation to have been derived from taxpayers located in the project area shall be remitted to the state treasurer.
(b) The state treasurer shall transfer all such revenues to the fund established by the authority. The state treasurer shall make such distributions on dates mutually agreed upon by the treasurer and the authority. The authority shall use all such moneys received pursuant to this section to pay the costs of the project. Any revenues not needed or committed for the payment of bonds as determined by the authority may be remitted by the state treasurer proportionately to the appropriate taxing subdivisions.
History: L. 2000, ch. 176, 4; May 25.


Date Composed: 04/04/2011 Date Modified: 04/04/2011

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