OLATHE, Kansas (WIBW) – Governor Laura Kelly signed Senate Bill 1, the bipartisan package of sustainable tax cuts, in Olathe on Wednesday.
The law provides a comprehensive tax cut in Kansas while ensuring the long-term financial health of the state.
Senate Bill 1, passed with bipartisan support and signed by Governor Kelly in June, will provide Kansas residents with nearly $2 billion in tax relief over the next five years.
The law eliminates state taxes on Social Security income, saving Kansas retirees $152 million in the first year alone.
The law reduces property taxes by increasing the residential property tax exemption to $75,000. Residential property owners will save more than $236 million over five years.
The law also reduces income tax while increasing the flat-rate deduction and tax allowance for child and nursing care.
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