Bill > SB3

This bill modifies several provisions related to taxation and sports-related economic development in Missouri. It introduces the "Show-Me Sports Investment Act," which allows the state to provide financial support for athletic and entertainment facilities with seating capacity over 30,000, particularly those that might help retain professional sports franchises. The bill creates a tax credit system for donations to sporting events, increasing the per-ticket and per-participant tax credit amounts and adjusting the total annual credit limits. It also establishes a new property tax credit program for homeowners in certain counties, where residents can vote to receive a credit that reduces their property tax liability based on their initial credit year's tax rate. Additionally, the bill creates a tax credit for individuals who incur insurance deductibles due to disasters, allowing taxpayers to claim up to $5,000 for deductibles on homestead properties. The legislation includes provisions for tracking and limiting these tax credits, specifying how they can be used, transferred, and carried forward, and sets sunset dates for various programs. The bill aims to provide economic incentives for sports tourism, property ownership, and disaster recovery while carefully managing the state's tax credit programs.

Budget and Finance, Business and Industry, Government Affairs

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=E1&BillID=18267440