Kansas HB 2239
Tax Credit For Capital Outlay
Donations to the Capital Outlay Fund
Capital outlay for SATC is used to provide equipment and infrastructure needs for the programs on campus. The college receives a state appropriation for a capital outlay of approximately $120,000 per year. The appropriation varies each year depending upon enrollment and the availability of state funds. The college has millions in needs that will keep growing.
Subject to limitations and approval by the Kansas Secretary of Revenue, tax credits will be issued to donors who provide up to $250,000 to SATC Educational Foundation designated for the SATC capital outlay fund. Taxpayers may offset up to 100% of the taxpayer’s Kansas income, privilege, or premiums tax liability for each taxable year 2022 – 2026. The combination of federal and state deductions for charitable contributions and the tax credit of 60% could mean a net gain for higher wage earners, as much as 77% Please consult a tax professional.