Bill > SB3

This bill modifies several provisions related to taxation and sports-related economic development in Missouri. The bill introduces the "Show-Me Sports Investment Act," which allows the state to expend funds for athletic and entertainment facility projects, specifically targeting professional sports franchises in Major League Baseball or the National Football League. The state can provide financial support for facilities with a seating capacity over 30,000, with potential tax credits up to 50% of private contributions, not exceeding $50 million. The bill also establishes a new tax credit for homeowners and renters who incur insurance deductibles due to disasters, offering up to $5,000 in tax credits for deductibles paid in 2025. Additionally, the bill creates a property tax credit mechanism for eligible taxpayers in certain counties, allowing counties to vote on implementing a property tax credit based on the difference between current and initial tax year property tax liabilities. The bill modifies existing sports event tax credit programs, increasing potential credits and adjusting eligibility requirements, and extends the sunset date for these programs to 2032. The legislation aims to support sports infrastructure, provide tax relief for disaster-impacted homeowners, and offer property tax stability for residents in specific counties.

Budget and Finance

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