How stadium subsidies undermine taxpayer interests
GUEST COLUMN, Vance Ginn, Kansas Policy Institute
The death of HB 2663 in Kansas, which aimed to create new Sales Tax and Revenue (STAR) Bonds and Tax Increment Financing (TIF) districts for financing new sports stadiums, has reignited critical debate about the role of public funding in private projects.
The bill also provided 100% financing for 30 years to attract the Kansas City Chiefs or Royals to new stadiums on the Kansas side of the KC Metro area. This follows after 58% of Jackson County voters wisely rejected a $2 billion subsidy for similar developments, highlighting a disconnection between rent seekers and the electorate’s preferences.