Commerce Announces $4.1M Available in
Tax Credits Program
TOPEKA – Lieutenant Governor and Secretary
of Commerce David Toland today announced $4.1 million in tax credits once again
will be made available under the Kansas Department of Commerce’s Community
Service Tax Credit Program (CSP).
CSP assists
private nonprofit organizations and public healthcare entities undertaking
major capital campaigns for projects involving:
- Community
service, including childcare
- Non-governmental
crime prevention
- Youth
apprenticeship and technical training
- Healthcare
services
Under this
program, the state authorizes nonprofit organizations to offer tax credits to
donors making contributions towards approved projects. Organizations are chosen
through a competitive selection process.
“CSP tax
credits help a wide variety of community-led projects come to fruition,” Lieutenant
Governor and Secretary of Commerce David Toland said. “The
program benefits organizations and donors alike as they collaboratively work to
improve their hometowns by supporting projects that positively impact a
community’s overall economic health and quality of life.”
Proposed
projects should be unique or one-time in nature and create lasting value for
charitable organizations. For example, projects might include a capital
campaign, major equipment purchase, major renovation, capacity building, etc.
The
application window is open from March 1 through April 30, 2024. Applicants may
request up to $200,000 in tax credits. Applicant organizations in rural
areas (less than 15,000 population) are eligible for a 70 percent credit.
Applicant organizations in non-rural areas are eligible for a 50 percent
credit.
If your
organization is interested in applying for the CSP program, the Department of
Commerce invites you to an introductory webinar at 1:00 p.m. Friday, March 1.
Registration is required. For more information and to register, click here.
For
questions regarding CSP Tax Credits, visit the Commerce website here or contact Community Development
Specialist Sara Bloom here or at (785) 506-9278.
