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Can you summarize KSST 74-8793?
STATE LOTTERY > Attracting professional sports to Kansas fund established; purpose; secretary of commerce duties and obligations.
Short Summary
This legal document establishes the attracting professional sports to Kansas fund in the state treasury. The fund is administered by the secretary of commerce. Expenditures from the fund must comply with appropriation acts and be approved by the secretary of commerce or their designee. The purpose of the fund is to attract professional sports to Kansas. The secretary of commerce is authorized to pledge funds from the attracting professional sports to Kansas fund or sports wagering revenues for the benefit of professional sports teams. These funds can be used to pay the principal or interest on bonds issued by the state or any municipality for the construction, rehabilitation, revitalization, or expansion of a professional sports team’s primary facility or any ancillary development. Additionally, any excess funds in the attracting professional sports to Kansas fund are transferred to the lottery operating fund. No specific penalties or exemptions are mentioned in this document.
Whom does it apply to?
The state of Kansas
What does it govern?
Establishment and administration of the attracting professional sports to Kansas fund
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Kansas