Providing for food sales tax revenue replacement for STAR bond districts established prior to December 31, 2022, establishing the STAR bonds food sales tax revenue replacement fund, providing for transfers from the state general fund to such revenue replacement fund and transfers from such revenue replacement fund in the amount of food sales tax revenues lost to the applicable cities or counties and extending the sunset date of the STAR bonds financing act to July 1, 2031.

HB 2292 creates a "STAR bonds food sales tax revenue replacement fund" to compensate cities and counties with STAR bond districts established before December 31, 2022, for lost food sales tax revenue. It requires the state to transfer funds from the general fund to this replacement fund, which then pays cities/counties the amount of food sales tax revenue they would have collected at the 6.5% rate (instead of the reduced rate) for the period January 2024 through June 2025, and monthly thereafter. The bill extends the sunset date of the STAR bonds financing act to July 1, 2031, ensuring ongoing funding for these districts.