This bill seeks to promote economic development in Kansas by establishing a port authority in Wyandotte County and Kansas City, while also modifying the STAR bonds financing act. It empowers the governing body of the unified government to create a port authority with defined powers and duties, and allows for the redevelopment of certain mall facilities as eligible STAR bond projects. The bill introduces new definitions and requirements for STAR bond projects, including visitor origin requirements and the authority of the secretary of commerce to enforce compliance. Key amendments include prohibiting the use of state general fund moneys for the repayment of special obligation bonds related to STAR bond projects and restricting the use of eminent domain for property acquisition.

Additionally, the bill streamlines the approval process for STAR bond projects, allowing the secretary to establish project districts independently in certain cases and setting financing limits for high-value projects. It mandates feasibility studies for STAR bond projects and requires developers to commence work within two years of plan adoption. The bill also enhances transparency by requiring annual reports from cities and counties on the status of STAR bond projects and includes provisions for full faith and credit tax increment bonds for major motorsports complexes. Overall, the bill aims to facilitate targeted redevelopment initiatives while ensuring accountability and transparency in the management of public funds.

Statutes affected:
As introduced: 12-17
Sub: 12-17
{As Amended by Senate Committee of the Whole}: 12-17
H Sub for: 12-17, 79-3201, 12-3402