Make Kansas Your Home Rural Opportunity Zones Rural

Make Kansas Your Home Rural Opportunity Zones

Rural Opportunity Zone Program – Facilitates the population growth of rural Kansas communities in 73 designated counties through the use of tax relief and student loan reimbursement. – Qualified individuals will receive Kansas state income tax abatements and student loan reimbursements.

Income Tax Abatements – Establish residency in a ROZ on or after July 1 2011 after having lived outside the state of Kansas for 5 or more years – Earned less than $10, 000 in Kansas source income prior to establishing residency – Maintain residence for the entire taxable year the tax credit is claimed

Student Loan Reimbursement – Establish residency in ROZ county after the County opts to participate in the Student Loan Assistance of the ROZ program – Must have obtained an associates, bachelors, or post-graduate degree – Individual must have a current outstanding student loan balance

Student Loan Reimbursement – Student loan payments will be in equal shares over a maximum term of 5 years – Annual payments will be equal to 20% of the outstanding loan balance up to a maximum of $15, 000 – ROZ counties will provide 50% of the payment with the state providing a 50% match

Employer-Sponsorship – Employers in Rural Opportunity Zone (ROZ) Counties will be able to “sponsor” specific ROZ applicants – ROZ can be utilized as a recruitment tool by employers

Requirement of Employer Sponsorship – Employers must agree to pay for 5 years of matching payments. – County must notify commerce of employer sponsorship and receive approval. – Employer/ROZ candidate must complete appropriate application form.

Required ROZ Documents: Residency – Lease of living quarters or ownership of a home in the ROZ county • & One of the following: • Acceptance or offer of employment in the county • Proof of current employment in the county • Registration of vehicle in the county • Proof of voter registration in the county • Kansas Driver’s License showing residency

Carol Meyer (620) 755 -6738 cmeyer@kansascommerce. com