12-17,118.Same; neighborhood revitalization fund;
application for tax
rebates; impact on state aid to school districts.
(a) Following adoption of a plan pursuant to K.S.A. 12-17,117 and
amendments thereto, the
governing body shall create a neighborhood revitalization fund to finance the
redevelopment of designated revitalization areas and dilapidated structures
and to provide rebates
authorized by this section. Moneys may be
budgeted and transferred to such fund from any source which may be lawfully
utilized for such purposes. Any municipality may expend money from the general
fund of such municipality to accomplish the purposes of this act.
(b) Moneys credited to such fund from annually budgeted transfers shall not
be subject to the provisions of K.S.A. 79-2925 through 79-2937, and
amendments thereto. In making the budget of the municipality, the amounts
credited to, and the amount on hand in, such neighborhood revitalization fund
and the amount expended therefrom shall be shown thereon for the information of
taxpayers. Moneys in such fund may be invested in accordance with K.S.A.
10-131, and amendments thereto with the interest credited to the fund.
(c) If the governing body determines that money which has been credited to
such
fund or any part thereof is not needed for the purposes for which so budgeted
or transferred, the governing body may transfer such amount not needed to the
fund from
which it came and such retransfer and expenditure shall be subject to the
provisions of K.S.A. 79-2925 through 79-2937, and amendments
thereto.
(d) Any increment in ad valorem property taxes levied by the municipality
resulting from improvements by a taxpayer to property in a neighborhood
revitalization area or to a dilapidated structure may be credited to the
fund for the purpose of returning
all or a part of the property increment to the taxpayer in the form of a
rebate. Applications for rebates shall be submitted in the manner and subject
to the conditions provided by the revitalization plan adopted under K.S.A.
12-17,117 and amendments thereto. Upon approval
of an application received hereunder the municipality shall rebate
all or a part of incremental increases in ad valorem property tax resulting
from the
improvements. Upon payment of
taxes by the taxpayer, the rebate must be made within 30 days after the next
distribution date as specified in K.S.A. 12-1678a, and amendments thereto.
(e) No later than November 1 of each year the county clerk of each county
shall certify to the state commissioner of education the assessed valuation
amount of any school district therein for which tax increment rebates have been
made by the school district during the previous year in accordance with an
interlocal agreement approved by the board of education of such district under
the provisions of K.S.A. 12-17,119 and amendments thereto. The
amount of the assessed valuation shall be determined by dividing the total
amount of tax increment rebates paid by the district during the preceding 12
months by the total of the ad valorem tax levy rates levied by or on behalf of
the district in the previous year. The commissioner of education shall annually
deduct the certified amounts of assessed valuation for such rebates from the
total assessed valuation of the district in determining the total and per pupil
assessed valuations used in the allocation of state aid payments to school
districts.
History: L. 1994, ch. 242, § 14;
L. 1996, ch. 228, § 11;
L. 1997, ch. 97, § 3; July 1.
12-17,118.Same; neighborhood revitalization fund;
application for tax
rebates; impact on state aid to school districts.
(a) Following adoption of a plan pursuant to K.S.A. 12-17,117 and
amendments thereto, the
governing body shall create a neighborhood revitalization fund to finance the
redevelopment of designated revitalization areas and dilapidated structures
and to provide rebates
authorized by this section. Moneys may be
budgeted and transferred to such fund from any source which may be lawfully
utilized for such purposes. Any municipality may expend money from the general
fund of such municipality to accomplish the purposes of this act.
(b) Moneys credited to such fund from annually budgeted transfers shall not
be subject to the provisions of K.S.A. 79-2925 through 79-2937, and
amendments thereto. In making the budget of the municipality, the amounts
credited to, and the amount on hand in, such neighborhood revitalization fund
and the amount expended therefrom shall be shown thereon for the information of
taxpayers. Moneys in such fund may be invested in accordance with K.S.A.
10-131, and amendments thereto with the interest credited to the fund.
(c) If the governing body determines that money which has been credited to
such
fund or any part thereof is not needed for the purposes for which so budgeted
or transferred, the governing body may transfer such amount not needed to the
fund from
which it came and such retransfer and expenditure shall be subject to the
provisions of K.S.A. 79-2925 through 79-2937, and amendments
thereto.
(d) Any increment in ad valorem property taxes levied by the municipality
resulting from improvements by a taxpayer to property in a neighborhood
revitalization area or to a dilapidated structure may be credited to the
fund for the purpose of returning
all or a part of the property increment to the taxpayer in the form of a
rebate. Applications for rebates shall be submitted in the manner and subject
to the conditions provided by the revitalization plan adopted under K.S.A.
12-17,117 and amendments thereto. Upon approval
of an application received hereunder the municipality shall rebate
all or a part of incremental increases in ad valorem property tax resulting
from the
improvements. Upon payment of
taxes by the taxpayer, the rebate must be made within 30 days after the next
distribution date as specified in K.S.A. 12-1678a, and amendments thereto.
(e) No later than November 1 of each year the county clerk of each county
shall certify to the state commissioner of education the assessed valuation
amount of any school district therein for which tax increment rebates have been
made by the school district during the previous year in accordance with an
interlocal agreement approved by the board of education of such district under
the provisions of K.S.A. 12-17,119 and amendments thereto. The
amount of the assessed valuation shall be determined by dividing the total
amount of tax increment rebates paid by the district during the preceding 12
months by the total of the ad valorem tax levy rates levied by or on behalf of
the district in the previous year. The commissioner of education shall annually
deduct the certified amounts of assessed valuation for such rebates from the
total assessed valuation of the district in determining the total and per pupil
assessed valuations used in the allocation of state aid payments to school
districts.
History: L. 1994, ch. 242, § 14;
L. 1996, ch. 228, § 11;
L. 1997, ch. 97, § 3; July 1.
12-17,118.Same; neighborhood revitalization fund;
application for tax
rebates; impact on state aid to school districts.
(a) Following adoption of a plan pursuant to K.S.A. 12-17,117 and
amendments thereto, the
governing body shall create a neighborhood revitalization fund to finance the
redevelopment of designated revitalization areas and dilapidated structures
and to provide rebates
authorized by this section. Moneys may be
budgeted and transferred to such fund from any source which may be lawfully
utilized for such purposes. Any municipality may expend money from the general
fund of such municipality to accomplish the purposes of this act.
(b) Moneys credited to such fund from annually budgeted transfers shall not
be subject to the provisions of K.S.A. 79-2925 through 79-2937, and
amendments thereto. In making the budget of the municipality, the amounts
credited to, and the amount on hand in, such neighborhood revitalization fund
and the amount expended therefrom shall be shown thereon for the information of
taxpayers. Moneys in such fund may be invested in accordance with K.S.A.
10-131, and amendments thereto with the interest credited to the fund.
(c) If the governing body determines that money which has been credited to
such
fund or any part thereof is not needed for the purposes for which so budgeted
or transferred, the governing body may transfer such amount not needed to the
fund from
which it came and such retransfer and expenditure shall be subject to the
provisions of K.S.A. 79-2925 through 79-2937, and amendments
thereto.
(d) Any increment in ad valorem property taxes levied by the municipality
resulting from improvements by a taxpayer to property in a neighborhood
revitalization area or to a dilapidated structure may be credited to the
fund for the purpose of returning
all or a part of the property increment to the taxpayer in the form of a
rebate. Applications for rebates shall be submitted in the manner and subject
to the conditions provided by the revitalization plan adopted under K.S.A.
12-17,117 and amendments thereto. Upon approval
of an application received hereunder the municipality shall rebate
all or a part of incremental increases in ad valorem property tax resulting
from the
improvements. Upon payment of
taxes by the taxpayer, the rebate must be made within 30 days after the next
distribution date as specified in K.S.A. 12-1678a, and amendments thereto.
(e) No later than November 1 of each year the county clerk of each county
shall certify to the state commissioner of education the assessed valuation
amount of any school district therein for which tax increment rebates have been
made by the school district during the previous year in accordance with an
interlocal agreement approved by the board of education of such district under
the provisions of K.S.A. 12-17,119 and amendments thereto. The
amount of the assessed valuation shall be determined by dividing the total
amount of tax increment rebates paid by the district during the preceding 12
months by the total of the ad valorem tax levy rates levied by or on behalf of
the district in the previous year. The commissioner of education shall annually
deduct the certified amounts of assessed valuation for such rebates from the
total assessed valuation of the district in determining the total and per pupil
assessed valuations used in the allocation of state aid payments to school
districts.
History: L. 1994, ch. 242, § 14;
L. 1996, ch. 228, § 11;
L. 1997, ch. 97, § 3; July 1.