12-1749d. Same; cost and benefit analysis; hearing.
12-1749d
12-1749d. Same; cost and benefit analysis;
hearing.
Prior to issuing any revenue bonds pursuant to K.S.A. 12-1740
to 12-1749, inclusive, and amendments thereto, for any business the property of
which will be eligible for an exemption from ad valorem taxation pursuant to
K.S.A. 79-201a Second, and amendments thereto, the board of county
commissioners of any county or the governing body of any city, as the case
requires, shall be required to:
(a) Prepare an analysis of the costs and benefits of each exemption which
shall include the effect of the exemption on state revenues; and
(b) conduct a public hearing on the granting of such exemption. Notice of
the public hearing shall be published at least once seven days prior to the
hearing in the official city or county newspaper, as the case requires, and
shall indicate the purpose, time and place thereof. In addition to such
publication notice, the city or county clerk, as the case requires, shall
notify in writing the governing body of any city or county and unified school
district within which the property proposed for exemption is located.
History: L. 1994, ch. 187, § 4; Jan. 1, 1995.