Enacting the insurance savings account act, allowing individuals and corporations to establish insurance savings accounts with certain financial institutions, providing eligible expenses, requirements and restrictions for such accounts and establishing addition and subtraction modifications under the Kansas income tax act.

Summary

The bill lets people and corporations open special accounts at banks or credit unions to save money for insurance premiums and deductibles, with contribution limits and tax benefits. Account holders must file annual reports, and the state insurance commissioner may promote the program. The measure failed, dying in committee.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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