Same; account earnings exempt from privilege taxation; account funds disregarded in public assistance eligibility determination.

  1. Law
  2. Kansas Statutes
  3. State Boards, Commissions And Authorities
  4. Department Of Commerce
  5. Same; account earnings exempt from privilege taxation; account funds disregarded in public assistance eligibility determination.

Checkout our iOS App for a better way to browser and research.

74-50,207. Same; account earnings exempt from privilege taxation; account funds disregarded in public assistance eligibility determination.
(a) Earnings by any financial institution attributable to its individual development accounts shall be exempt from privilege taxation imposed by article 11 of chapter 79 of the Kansas Statutes Annotated, and amendments thereto.

(b) Any funds in an individual development account, including accrued interest, shall be disregarded when determining eligibility to receive, or the amount of, any public assistance or benefits.

History: L. 2005, ch. 104, § 7; Apr. 21.


Download our app to see the most-to-date content.