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Rural Opportunity Zones. 2011 Kansas Legislature. SB 198 – 47 Counties then amended to 50 Providing tax abatement for out-of-state persons moving into state Amended to allow loan repayment for in-state persons who move into ROZ counties. Student Loan Repayment
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2011 Kansas Legislature • SB 198 – 47 Counties then amended to 50 • Providing tax abatement for out-of-state persons moving into state • Amended to allow loan repayment for in-state persons who move into ROZ counties
Student Loan Repayment Up to a maximum of $15,000 paid over the course of 5 years (20% of maximum eligible balance each year) Income Tax Waiver A credit against an individuals entire Kansas income tax liability for up to 5 taxable years Two Incentives
Move to a participating ROZ county Degree from an accredited institution Outstanding student loan balance Student Loan Qualifications
Move to one of the 50 ROZ counties Must have lived outside the state for the 5 years immediately prior to moving Must have earned less than $10,000 in Kansas-Source Income in each of those 5 years Income Tax Credit Qualifications
571 Applications 208 from out of state 44 of 45 counties 1.19 applications per day To Date…
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Marketing • Alumni groups • Reaching out to current residents • News Stories • YRC Trailer wraps • Google adwords • Facebook ads
Income *Average student debt: $24,979
Applicant Concerns* Housing – 64% Jobs – 50% Access to healthcare – 11% Recreation Opportunities – 5% *Applicants that had not yet moved to a ROZ county
Chris Harris charris@kansascommerce.com (785) 296-6815 Fax (785) 296-3776 1000 SW Jackson St., Suite. 100 Topeka, KS 66612-1354