Kansas legislators are once again considering a renewal and modification of sales tax revenue bonds that would allow for use of public funding on rural redevelopment, hospital and company headquarters projects. Sales tax revenue, or STAR, bonds, is an economic development tool allowing Kansas municipalities to issue bonds to finance major attractions that bring in tourists from out of state. The bonds are currently available in metropolitan areas to projects with an anticipated investment of $50 million and with a projected gross annual sale of at least $50 million. There is no specific threshold in rural areas, but it must be of major state or regional significance. The bonds are paid off through sales tax revenue generated by the project. The program is set to expire at the end of June.
Source: Kansas Reflector
