Kansas HB2737 establishes an alternative method for financing municipal economic development projects through taxpayer agreements.

Kansas HB2737, known as the Taxpayer Agreement Act, allows cities to finance redevelopment projects through taxpayer agreements with property owners or developers. These agreements can limit the property owner's or developer's rights to challenge assessments or property taxes and secure repayment of bonds. The act permits cities to issue special obligation bonds or full faith and credit tax increment bonds to finance project costs. The bonds can be secured by various revenue sources, including tax increments, franchise fees, and sales taxes.

Kansas HB2737 establishes an alternative method for financing municipal economic development projects through taxpayer agreements.

Kansas HB2737, known as the Taxpayer Agreement Act, allows cities to finance redevelopment projects through taxpayer agreements with property owners or developers. These agreements can limit the property owner's or developer's rights to challenge assessments or property taxes and secure repayment of bonds. The act permits cities to issue special obligation bonds or full faith and credit tax increment bonds to finance project costs. The bonds can be secured by various revenue sources, including tax increments, franchise fees, and sales taxes.