Kansas Extends Major Development Tool For 5 Years

By: Associated Press
By: Associated Press

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Monday, May 28, 2012

Kansas legislators have extended the life of an economic development incentive considered an effective tool for the state in attracting businesses.

Lawmakers approved a bill allowing Kansas to authorize bonds for big projects backed by sales tax revenues through June 2017.

Such STAR bonds have helped Kansas in a contest with Missouri over jobs in the Kansas City area.

They helped finance Kansas Speedway, the NASCAR track, as well as a new stadium for the Major League Soccer team Sporting Kansas

But enough legislators had misgivings about the bill that it didn't clear the Legislature until shortly before lawmakers adjourned May 20. Gov. Sam Brownback has until June 4 to decide whether he'll sign it, and his spokeswoman said only that he would review it carefully.

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