TOPEKA — A House panel refrained from acting Thursday on what some called a “train wreck” financial incentive package to encourage manufacturers to pursue significant investments in the state, opting instead to discuss potential improvements.
The so-called megaproject bill provides companies with special incentives if they plan to invest at least $1billion in Kansas over five years. Amendments added by the Senate would reduce the state corporate income tax, make a tax credit offered to these companies nonrefundable and establish a sunset date on the act of June 20, 2023.
As requested by Gov. Laura Kelly, the bill is intended to boost the state’s bid for an unnamed company expected to invest $4 billion in a production plant. The company is also considering Tulsa for the site, according to the Kansas City Business Journal.