79-221. Property exempt from taxation; leased real and personal property of certain economic development corporations. The following described property, to the extent herein specified, shall be exempt from all property or ad valorem taxes levied under the laws of the state of Kansas:
(a) All buildings, together with the land upon which such buildings are located, and all tangible personal property rented or leased from a lessor having a 51% or more ownership interest in the lessee, from a lessor in which the lessee has a 51% or more ownership interest or from a lessor which is a community based not-for-profit economic development corporation organized under the laws of this state which is exempt from federal income taxation pursuant to paragraphs (4) and (6) of subsection (c) of section 501 of the federal internal revenue code of 1986 as in effect on January 1, 1990, if: (1) Such rented or leased property is integrally associated with other property which has been exempted pursuant to section 13 of article 11 of the Kansas constitution, and (2) such leased property is otherwise used exclusively for the same exempt purpose for which the exemption was granted pursuant to section 13 of article 11 of the Kansas constitution.
(b) For the purposes of this section, a community based not-for-profit economic development corporation shall mean a corporation organized and existing solely for the purpose of engaging in economic development activities and improving the economic climate of the county wherein lies the principal office of the corporation.
(c) The exemption granted pursuant to this section shall expire at the expiration of the same period of years for which the exemption was granted by the county or city for property owned by such lessee.
(d) The provisions of this section shall apply to all taxable years commencing after December 31, 1993.
History: L. 1990, ch. 345, § 5; L. 1994, ch. 268, § 5; May 5.
Structure Kansas Statutes
Article 2 - Property Exempt From Taxation
79-201a Property exempt from property and ad valorem taxes.
79-201c Same; wearing apparel; household goods and personal effects; graveyards.
79-201e Same; mined land; reclaimed surface mining operations.
79-201h Same; solar energy systems.
79-201i Purpose for farm machinery and equipment property tax exemption.
79-201k Property exempt from taxation; purpose; business aircraft.
79-201m Property exempt from taxation; merchants' and manufacturers' inventory.
79-201n Property exempt from taxation; grain.
79-201o Property exempt from taxation; construction hand tools.
79-201p Property exempt from taxation; motor vehicle inventories.
79-201r Property exempt from taxation; Strother Field airport.
79-201t Property exempt from taxation; oil leases.
79-201u Property exempt from taxation; motor vehicles donated for charitable auctions.
79-201w Property exempt from taxation; machinery, equipment, materials and supplies.
79-201x Property exempt from taxation; residential property exempt from statewide school levy.
79-205 Waterworks plants at Kansas City exempted from taxation.
79-219 Property exempt from taxation; mechanic's hand tools.
79-220 Property exempt from taxation; antique and amateur-built aircraft.
79-223 Same; certain commercial and industrial machinery and equipment.
79-225 Property exempt from taxation; certain integrated coal gasification power plant property.
79-226 Property exempt from taxation; certain refinery property.
79-227 Property exempt from taxation; certain crude oil or natural gas pipeline property.
79-229 Property exempt from taxation; certain biomass-to-energy plant property.
79-230 Property exempt from taxation; nuclear generation facility property.
79-232 Property exempt from taxation; biofuel storage and blending equipment.
79-233 Property exempt from taxation; carbon dioxide capture, sequestration or utilization property.
79-234 Same; certain tangible personal property.
79-253 Applicability of amendments to 79-201, 79-251 and 12-1749d.
79-254 Exempt property deemed used exclusively, when.
79-255 Property tax refund for oil lease property; claim procedures.
79-256 Independent power producer property and pollution control devices; definitions.
79-257 Same; exemption from taxation.
79-259 Property exempt from taxation; certain electric transmission lines and appurtenances.
79-260 Property exempt from taxation; new automobile manufacturing property.
79-261 Procedure governing classification of property for purposes of exemption under 79-223.
79-263 Property exempt from taxation; certain airports.
79-264 Property exempt from taxation; certain property owned by a redevelopment authority.