Thursday, March 1, 2012

Rural Opportunity Zones

Legislation passed in 2011 to encourage economic growth in rural counties. Kansas Statutes 74-50,222 and 74-50,223 create Rural Opportunity Zones (ROZ). There are 50 counties in Kansas that have been authorized to offer one or both of the following financial incentives to new full-time residents:

·Kansas income tax waivers for up to five years OR
·Student loan repayments up to $15,000

Learn more about this program and how you can participate below!

Governor Sam Brownback’s roadmap for growing Kansas economy
and establishing Rural Opportunity Zones:
http://governor.ks.gov/road-map/growing-kansas-economy

Governor Brownback’s message to the 2012 Legislature
including mention of Rural Opportunity Zones and their effect:
http://governor.ks.gov/media-room/speeches/2012/01/12/2012-state-of-the-state

Text of KSA 74-50,222
http://www.kslegislature.org/li/b2011_12/statute/074_000_0000_chapter/074_050_0000_article/074_050_0222_section/074_050_0222_k/

Text of KSA 74-50,223
http://www.kslegislature.org/li/b2011_12/statute/074_000_0000_chapter/074_050_0000_article/074_050_0223_section/074_050_0223_k/

Map of Rural Opportunity Zones:
http://www.kansascommerce.com/index.aspx?NID=385

Information on the tax credit available from the Kansas
Department of Revenue:
http://ksrevenue.org/taxcredits-roz.html

Listing of the qualifications to see whether you can apply
for the credit:
http://ksrevenue.org/pdf/ROZQualifications.pdf

Kansas Department of Commerce description of the program:
http://www.kansascommerce.com/index.aspx?nid=320

Rural Opportunity Zone guidelines:
http://ks-kdoc.civicplus.com/DocumentView.aspx?DID=649

Office of Rural Opportunity offices and contact information:
http://www.kansascommerce.com/index.aspx?NID=99

Article contact: Kim Harp

No comments: