Kansas Statutes Chapter 74. State Boards, Commissions and Authorities § 74-50,319. Same; sales tax exemption for qualified firms or qualified suppliers; eligibility; certification of eligibility by secretary of commerce; agreement; notice by secretary of commerce to secretary of revenue; expiration of exemption; certification by secretary of commerce required; revocation; breach of agreement, repayment

(a) On and after the effective date of this act, a qualified firm or a qualified supplier that meets the requirements of K.S.A. 74-50,312, and amendments thereto, and this section may be eligible for a sales tax exemption under the provisions of K.S.A. 79-3606(oooo), and amendments thereto.

(c) To be eligible to receive the sales tax exemption, the qualified firm or qualified supplier shall have been approved by and entered into an agreement with the secretary for a qualified investment in a qualified business facility including, with respect to a qualified firm, a requirement of an investment of at least $1,000,000,000 pursuant to the requirements of K.S.A. 74-50,312, and amendments thereto. The secretary of commerce shall provide notice to the secretary of revenue regarding an approval of a sales tax exemption under this section. The sales tax exemption shall be valid until construction of the qualified business facility has been completed as certified by the secretary of commerce to the secretary of revenue or the date specified for completion of the qualified business facility in the agreement executed pursuant to K.S.A. 74-50,312, and amendments thereto, whichever occurs first. No sales tax exemption shall be issued by the secretary of revenue unless the qualified firm or the qualified supplier has been certified by the secretary of commerce, as provided in K.S.A. 74-50,312, and amendments thereto, as meeting all requirements of this act, the rules and regulations of the secretary, if any, and the agreement executed pursuant to K.S.A. 74-50,312, and amendments thereto.

(d) A sales tax exemption shall be revoked by the secretary of revenue upon notification by the secretary of commerce that the qualified firm or qualified supplier has been disapproved by the secretary of commerce.

(e) If the qualified firm or qualified supplier breaches the terms and conditions of the agreement pursuant to K.S.A. 74-50,312, and amendments thereto, the amount of sales tax exempted shall be repaid to the state as provided by K.S.A. 74-50,312, and amendments thereto.