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KS HB2211
Bill
Status
Introduced
2/3/2025
Primary Sponsor
Taxation
Click for details
AI Summary
- STAR bond project districts established before December 31, 2022, will receive state payments to compensate for revenue lost due to the elimination of state sales tax on food and food ingredients, calculated as if the 6.5% rate still applied
- Creates the STAR bonds food sales tax revenue replacement fund in the state treasury, with monthly transfers from the state general fund beginning August 1, 2025
- Retroactive payments will cover food sales tax revenue from January 2024 through April 2025, with ongoing monthly certifications thereafter
- Payments continue until sufficient revenue has been collected to satisfy all principal and interest costs on special obligation bonds issued before December 31, 2022
- Modifies the tax increment definition so districts established before December 31, 2022, include an amount equal to what state food sales tax would have generated, while newer districts exclude food sales tax from base year calculations
Legislative Description
Providing funding for STAR bond districts to replace lost food sales tax revenue.
Last Action
House Hearing: Wednesday, February 26, 2025, 3:30 PM Room 346-S
2/26/2025
Committee Referrals
Taxation2/3/2025
Full Bill Text
No bill text available