Pub. 2 2013 Issue 9

l e a d i n g a d v o c a t e f o r t h e b a n k i n g i n d u s t r y i n k a n s a s 8 Furthermore, the mortgage registration fee creates an unfair competitive advantage for an instrumentality of the United States government, treating Farm Credit lenders more favorably than traditional Kansas banks. Federal law provides an exemption for Farm Credit lenders from federal, state, municipal and local taxation, except taxes on real estate held by Farm Credit. Borrowers who prefer to do business with a bank, are penalized for doing so by having to pay the mortgage registration fee, while borrowers who patronize the government-sponsored Farm Credit bank are not. We question whether the state thinks it wise to continue a policy that discourages its citizens from doing business with tax-paying banks in Kansas. Eliminating the mortgage registration fee would eliminate the inequities described above. No longer would the state single out borrowers to bear a larger burden of funding county government. The competitive disadvantage across state lines would disappear. The state would no longer have a policy of favoring tax exempt Farm Credit lenders over tax-paying Kansas banks. There is no better time to adopt a policy of fairness in this area of Kansas tax policy. Reach your target audience a ordably. advertise get results KRIS MONTIONE Advertising Sales 727.475.9827 or 855.747.4003 kris@thenewslinkgroup.com KBA Harold A. Stones Public Affairs Conference & Legislative Reception February 5, 2014 Plan to arrive at Topeka Country Club 2700 S.W. Buchanan, Topeka for Conference Registration at 9:30 am Conference 10:00 am—4:30 pm Legislative Reception 5:00 pm—7:00 pm For registration information contact Julie Taylor at jtaylor@ksbankers.com or by phone at 785-232-3444 continued frompage 7