Removing obsolete reference to global intangible low-taxed income provided for under the federal internal revenue code in determining Kansas adjusted gross income.

HB 2642 removes an outdated reference to "global intangible low-taxed income" (GILTI) from Kansas's tax code, which was a federal tax provision repealed in 2017. The bill amends Kansas Statute 79-32,117 to eliminate this obsolete mention when calculating Kansas adjusted gross income for taxpayers. This change affects all Kansas individual taxpayers subject to state income tax but does not alter tax rates, deductions, or actual tax liability. The bill simply updates the state code to align with current federal law, removing a reference that no longer applies.