Authorizing the secretary of commerce to enter into agreements with major professional sports franchises to establish STAR bond projects for a major professional sports complex, providing for additional revenue sources, expanding the powers and discretion of the secretary and making other changes to the STAR bonds financing act to facilitate such projects, limiting the secretary’s authority to approve such projects to one year unless extended by the legislative coordinating council, authorizing the Kansas development finance authority to issue STAR bonds for such projects, transferring funds under certain circumstances from the state gaming revenues fund to the attracting professional sports to Kansas fund for the fiscal year ending June 30, 2025, and, if approved by the legislative coordinating council, for the fiscal year ending June 30, 2026.
House Substitute for Substitute for SB 197 by Committee on Commerce, Labor and Economic Development - Furthering economic development by providing for authorization of a port authority by the unified government of Wyandotte County and Kansas City, Kansas, authorizing redevelopment of mall facilities as STAR bond projects, allowing vertical construction for certain STAR bond projects, facilitating such projects in less-populated counties in the Wichita and Kansas City metropolitan statistical areas, setting visitor origin requirements for such projects and providing for enforcement of such requirements, expanding transparency of such projects, authorizing the Kansas development finance authority to issue bonds for such projects, making certain other changes and extending the expiration date of the STAR bonds financing act.
Providing funding for STAR bond districts to replace lost food sales tax revenue, authorizing renovation and construction costs for historic theaters and major amusement parks, including amusement rides, as eligible STAR bond project costs, extending the deadline for the STAR bond report to certain legislative committees, and increasing the financing limit for pay-as-you-go funding for rural redevelopment projects.
Increasing the membership appointed by the governor on the council on travel and tourism and updating the house committee assignment required for house members from the committee on agriculture and natural resources to the committee on commerce, labor and economic development;reducing the required allocation of funds from the department of commerce's matching grant program for the promotion of tourism by public and nonprofit entities and removing the restriction on the percentage of such funds granted to a single entity.
Local finance: enhanced infrastructure financing districts.
Providing funding for STAR bond districts to replace lost food sales tax revenue.
Clarify provisions pertaining to tax increment finance districts.
Jobs for a Carbon Free Transportation System Act