- Associated Press - Monday, February 27, 2017

FRANKFORT, Ky. (AP) - The Kentucky House of Representatives has approved a proposal aimed at helping the Louisville Arena Authority pay off debt for the Yum Center.

House Bill 330 would extend the time period of the tax increment financing district that surrounds the Yum Center to 45 years from 20 years. That would give the authority more time to collect revenue to pay off the bonds that were issued to build the Yum Center, home to the University of Louisville men’s basketball team.

The Yum Center’s debt payments have risen in the past few years, and the board has warned it would not be able to cover those costs by 2020. The bill easily passed the Republican-controlled chamber by a vote of 79-12. It now heads to the state Senate.



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