Bill > HB1560

This bill establishes the Missouri Entertainment Facility - Capital Assistance Program (MEF-CAP), a state-level initiative designed to provide financial support for large-scale entertainment facility projects, primarily targeting professional sports venues. To be eligible for state assistance, a project must have total costs of at least $250 million, include an entertainment facility with seating for at least 20,000 people, and secure at least 33% private funding. The state can provide assistance through multiple mechanisms, including up to 50% of incremental state sales and income taxes for 25 years, retention of 50% of state withholding taxes from new jobs, and matching grants up to 25% of project costs (not exceeding $100 million). The professional sports franchise must commit to a 25-year lease and maintain operations in Missouri, with the condition that they must repay all state assistance if they relocate. The Missouri Department of Economic Development will administer the program with oversight from the Missouri Development Finance Board, and projects will be subject to annual reporting and potential repayment of assistance if they fail to meet specified requirements. Total public assistance from all sources cannot exceed 75% of total project costs, ensuring a significant private investment component.

https://house.mo.gov/Bill.aspx?bill=HB1560&year=2025&code=R