Legislators weigh $1.1B in potential property-tax losses tied to industrial revenue bonds

Kansas counties issued $18.3 billion in industrial revenue bonds to new and existing businesses between 2010 and 2024, and lawmakers learned Wednesday that the arrangements may leave about $1.1 billion in potential property taxes on the table, according to an audit reviewed by the Legislative Post Audit Committee. The committee reviewed the industrial revenue bonds audit to answer questions about the program’s fiscal impact and related effects. The discussion centered on how the bonds have been used across that 2010–2024 period and what that has meant for county property-tax revenue. The Kansas Reflector reports that the committee’s review is part of lawmakers’ broader effort to quantify the fiscal consequences of industrial revenue bonds and understand the scope of potential lost property-tax value for Kansas counties.