Kansas Statutes 76-791. Payment of bonds from contributions qualifying as tax credit, limitation
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Terms Used In Kansas Statutes 76-791
- Bonds: means any bonds, notes, lease certificates of participation or other evidences of indebtedness, whether or not the interest on which is subject to federal income taxation, issued by the Kansas development finance authority on behalf of the board of regents pursuant to this act to finance a scientific research and development facility. See Kansas Statutes 76-779
- Institution: means any institution under the control and supervision of the state board of regents. See Kansas Statutes 76-739
- Program: means the Kansas partnership for faculty of distinction program established by this act. See Kansas Statutes 76-773
Except for bonds issued pursuant to the postsecondary educational institution infrastructure finance program, no moneys received by a postsecondary educational institution as a contribution which qualifies as an income tax credit pursuant to law may be expended to pay for bonds or the interest on such bonds.