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Legislation Extending STAR Bonds Awaits KS Governor's Signature

TOPEKA, Kan. (AP) —Governor Sam Brownback has until June 4 to decide whether he'll sign a bill extending the life of an economic development incentive. Lawmakers approved a bill allowing Kansas to authorize bonds for big projects backed by sales tax revenues through June 2017. Such sales tax revenue bonds...referred to as STAR bonds...are considered an effective tool for the state in attracting businesses., and are credited with helping Kansas compete with Missouri for jobs in the Kansas City area. STAR bonds helped finance Kansas Speedway as well as a new stadium for the Major League Soccer team Sporting Kansas City. But enough legislators had misgivings about the extension bill that it didn't clear the Legislature until shortly before lawmakers adjourned May 20th. The governor's spokeswoman said only that he would review the legislation carefully.

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