KS
Kansas House Bill HB2001

Kansas 2024 1st Special Session

Kansas House Bill HB2001

Introduced
6/18/24  
Engrossed
6/18/24  
Enrolled
6/18/24  

Caption

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.

Impact

The bill modifies existing STAR Bonds financing law by broadening revenue sources and providing the Secretary of Commerce with increased discretion for approving projects. Its passage signifies a shift in state policy towards encouraging professional sports in Kansas, which could lead to job creation and increased tax revenue from tourism and related activities. By allowing the financing of sports complexes, state funds could also be leveraged to facilitate economic development initiatives that benefit local communities directly, albeit with a degree of control maintained by state oversight.

Summary

House Bill 2001 is an economic development measure aimed at facilitating the establishment of STAR bond projects involving major professional sports franchises. The bill authorizes the Kansas Secretary of Commerce to enter into agreements with up to two professional sports teams to develop STAR bond projects, which are used to finance large-scale improvements and developments that are expected to enhance tourism and economic activity. Key aspects of the bill allow the Secretary to finance projects independently or in cooperation with local governments, thereby expanding the potential for revitalizing areas through new sports complexes.

Contention

points of contention arise regarding the concentration of authority in the Secretary of Commerce and the potential impact on local governance. The stipulation that local sales, use, or guest taxes cannot be pledged for repayment of bonds without local approval aims to address concerns about local autonomy. Opponents may argue that the bill could lead to financial burdens on local economies if the anticipated revenue from these projects does not materialize, potentially resulting in unsustainable debt levels.

Latest HB2001 Activity

Companion Bills

No companion bills found.

Similar Bills

KS HB2211

Providing funding for STAR bond districts to replace lost food sales tax revenue.

KS HB2292

Providing for food sales tax revenue replacement for STAR bond districts established prior to December 31, 2022, establishing the STAR bonds food sales tax revenue replacement fund, providing for transfers from the state general fund to such revenue replacement fund and transfers from such revenue replacement fund in the amount of food sales tax revenues lost to the applicable cities or counties and extending the sunset date of the STAR bonds financing act to July 1, 2031.

KS SB197

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.

KS SB467

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.

KS HB2387

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.

NM SB559

Tax Changes

IL HB3810

FUNDS AND MANDATES-VARIOUS

IN SB0256

Fiscal matters.