Kansas lawmakers plan to increase STAR bond coverage to 75% to attract a professional sports team like the Chiefs.
Kansas lawmakers plan to modify the state's STAR bond program, aiming to attract a professional sports team like the Chiefs. The proposal allows STAR bonds to cover 75% of a project's cost, up from the current 50% cap. STAR bonds are essentially loans that allow developers to build attractions, with the state and other municipalities paying back the bond using sales tax revenue generated at the attraction. If successful in luring the Chiefs, building and fully financing a new stadium could involve issuing $2-$3 billion in STAR Bonds.
June 05, 2024
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