Bill > HB2221

This bill amends the STAR bonds law in several ways: 1. It adds "rural redevelopment projects" and "major business facilities" as eligible areas for STAR bond projects, with lower investment and sales requirements for rural projects. 2. It requires a feasibility study conducted by consultants approved by the Secretary of Commerce, and adds new requirements for the feasibility study including a visitor tracking plan, economic impact analysis, and net return on investment analysis. 3. It increases the minimum capital investment and annual sales requirements for STAR bond projects from $50 million to $75 million. 4. It adds new requirements for ownership transfers of real property acquired with STAR bond proceeds. 5. It extends the sunset date for the STAR bonds program from July 1, 2020 to July 1, 2026. The bill is intended to provide more flexibility and oversight for the STAR bonds program, especially for projects outside of metropolitan areas.