Facing a massive budgetary crisis, the State of Kansas may be placing the Kansas Angel Investor Tax Credit program on the chopping block.
The popular program — tapped by more than 300 startups in its 11 years — has had a tremendous impact on the area startup community but is scheduled to sunset after 2016. Since its inception in 2005, the program has provided $55.9 million in tax credits to investors funding Kansas startups.
Legislators have taken no action on a bill extending the program, despite unimpeded support from dozens of Kansas City business leaders. A key legislator expressed optimism that the bill would make it to the Kansas Senate floor, however, Rep. Marvin Kleeb, R-Overland Park, has yet to forward the bill out of the Kansas Committee on Taxation.
Startland News will continue to keep an eye on the program for you, but in the meantime, check out the program’s impact below.