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.
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.
House Substitute for SB 172 by Committee on Commerce, Labor and Economic Development - Creating the Kansas land and military installation protection act to prohibit foreign principals from countries of concern from holding any interest in certain real property in this state.
Requiring cities and counties to report local economic development incentive program information to the secretary of commerce and providing that such information be posted on the department of commerce economic development incentive program database, requiring certain changes to that database regarding the presentation of search results, providing for a summary report by the secretary of commerce on certain economic development incentive program data and requiring the secretary of administration to include on the Kansas taxpayer transparency act website certain information concerning grants.
Authorizing the Kansas development finance authority to issue bonds for the renovation and equipment of the university stadium on the campus of Wichita state university.
Authorizing the Kansas development finance authority to issue bonds for the construction and equipment of the NIAR technology and innovation building on the innovation campus of Wichita state university.
Substitute for HB 2450 by Committee on Commerce, Labor and Economic Development - Providing a sales tax exemption for the construction or remodeling of a qualified data center in Kansas and the purchase of data center equipment, eligible data center costs, electricity and certain labor costs to qualified firms that commit to a minimum investment of at least $600,000,000 and meet new Kansas jobs and other requirements.
Expanding the eligible uses for the 0% state rate for sales tax for certain utilities and the levying of sales tax on such sales by cities and counties and authorizing cities and counties to exempt such sales from such city or county taxes.
Establishing the Pike reservoir project district act to provide for a lake and related commercial and residential development in Bourbon county and authorizing a governing board and sales and property tax increment financing for such project.
Substitute for HB 2598 by Committee on Commerce, Labor and Economic Development - Authorizing the Kansas real estate commission to issue cease and desist orders, prohibiting dealing in assignable contracts for certain residential real estate and providing that certain violations thereof are subject to the Kansas consumer protection act, regulating contract for deed transactions, authorizing recording of contract for deeds or affidavits of equitable interest, listing deceptive practices constituting violations of the consumer protection act, requiring notice to the buyer of default and allowing buyers to cure such default.