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Gov. Kelly signs tax relief, STAR Bond, bills Friday

By Brian Hagen

06/21/2024

(MSC News)--Following the special one day session of the Kansas Legislature this week, Governor Laura Kelly, on Friday, announced her signing of the bipartisan legislation approved that day, which, a release from her office says, "will provide tax cuts for all Kansans without threatening the state- long-term fiscal health," while reducing property and income taxes, immediately eliminating the state tax on Social Security income, and increases the standard deduction and Child and Dependent Care Tax Credit.

Kelly also, the release says, signed approved legislation enabling the use of the Sales Tax and Revenue, or STAR, Bonds, an economic development tool to expand Kansas’ portfolio of professional sports teams, in an attempt to lure the Royals and Chiefs away from Missouri.

The Kansas News Service reports the legislation approved Tuesday would allow Kansas to issue bonds to cover up to 70% of the costs of a new stadium in the state for the Chiefs and another for Major League Baseball- Kansas City Royals. The state would pay off its bonds over 30 years with revenues from sports betting, Kansas Lottery ticket sales and new sales and alcohol taxes collected from shopping and entertainment districts around the new stadiums.

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