Kansas

Laws enacted in Arkansas and Kansas will reduce income tax revenue by hundreds of millions of dollars in fiscal 2025.

In a one-day special session, lawmakers passed a bill expanding an economic development bond program to finance venues for the Kansas City Chiefs and Royals.

Legislative leaders want the Super Bowl-winning Kansas City Chiefs to weigh in on a plan to use bonds for a new stadium on their side of the state line.

The state House easily overrode the governor's veto of a bill aimed at lowering income, sales, and property taxes,but the Senate's attempt failed by one vote.

Democratic Gov. Laura Kelly nixed another tax cut bill passed by the Republican-led legislature this year, while pushing a less-costly plan.

While Kansas' sales tax and revenue (STAR) bond program recorded its first default late last year, Bonner Springs is considering using it for a development that includes a Mattel toy-themed amusement park.

The state's transportation department plans to sell $200 million of highway fund revenue bonds this summer for its Eisenhower Legacy Transportation Program.

As double-digit revenue growth comes to an end, Southwest governors are crafting budgets to deal with the new normal.

A $25.5 million cash offer plus some equity was made to acquire Legacy Park, which was financed with $284 million of now-defaulted revenue bonds.

States nationwide saw slower general fund revenue growth in fiscal 2023 after gains the previous two fiscal years fueled by high inflation and federal stimulus.

The one-notch upgrade to AA reflects growth in Kansas Department of Transportation available fund balances and the state's improved credit quality, Fitch said.

Public sector employers are in a fierce competition with the private sector for workers and may be losing amid labor shortages and inflation.

Gov. Laura Kelly allowed the bill's enactment without her signature, citing its "potential unforeseen consequences."

The Republican-controlled legislature sent the governor a tax cut bill that included replacing the state's three-tier personal income tax structure with a flat 5.15% rate.

The taxable bonds would finance a bottling and other facilities, which would be leased to a private business.

The growth in March tax collections reported by the states was less robust than a year earlier.

The bill creates an ESG Oversight Committee to compile a list of financial services providers determined to be "discriminating" against the fossil fuel, firearm, or ammunition industries.

Opponents warned the measures could roll back 10 years of state efforts to improve funding for the Kansas Public Employees Retirement System.

The rating agency said it could upgrade the state's ratings over a two-year period if recent healthy fund balances are maintained.

With $300 million of term bonds due in 2051 underperforming in secondary market trading, Kansas officials are eyeing a surplus revenue funded buyback plan.