Governor Kelly signs off on STAR Bonds, Kansas tax cuts
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KANSAS CITY, Mo. — Kansas Governor Laura Kelly signed off on two bills that came out of a special session lawmakers held earlier this week.
She signed House Bill 2001, which allows the state to use STAR Bonds to help compel one or both of the Kansas City Chiefs and Royals to hop the state line, and cover up to 70% of stadium projects. The law previously allowed those bonds to cover up to 50% of the cost of development projects.
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“By modifying the STAR Bonds program, one of our strongest economic development mechanisms, lawmakers crafted a viable option for attracting professional sports teams to Kansas,” Gov. Kelly stated in a release.
The bonds would be paid back over a 30-year period from new sales taxes created in a stadium district, liquor taxes in the district, and money generated by a sports wagering fund. Cities and counties could participate in the district, or opt out.
A lot of the focus has been on the potential to build in Wyandotte County, where leaders said earlier this week their top priority is keeping the teams from leaving the Kansas City area.
“I think it’s just how do we all work — whether it’s in the great state of Missouri or the great state of Kansas — to find incentives and options we can project forward and hopefully, those organizations will see value to keep them here in the Kansas City metropolitan area,” Unified Government Mayor Tyrone Garner said on Tuesday.
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Kelly also gave the green light to a tax plan she and Republican leaders reached ahead of the special session that simplifies the income tax code into two brackets, reduces state property taxes and repeals a social security tax.
“Senate Bill 1 provides significant tax relief while preserving our ability to continue fully funding our public schools, roads and bridges, and State Water Plan,” Gov. Kelly stated in the release.
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