Bill > HB2883

This bill modifies the "Show-Me Sports Investment Act" by redefining key terms and adjusting the financial provisions related to athletic and entertainment facility projects. Specifically, it replaces "baseline year" and "baseline year state tax revenues" with "adjusted baseline state average" and "adjusted baseline state tax revenues," which are calculated by averaging state tax revenues from the five years preceding an application, excluding the highest and lowest years. This change aims to provide a more stable and representative measure of historical tax revenue. The bill also clarifies that "athletic and entertainment facility" includes venues with over 30,000 seats and can encompass a professional sports franchise's headquarters and training facilities, provided they are located within the state. It maintains that state funding for such projects is subject to annual appropriation and cannot exceed the adjusted baseline state tax revenues for the applicable facility. The bill also introduces provisions for tax credits, allowing taxpayers to receive a credit for contributions to an infrastructure development fund, with specific limits and conditions, and clarifies that these credits cannot be combined with those from another section of the act. Furthermore, it outlines default conditions, requiring repayment of state funds and outstanding bonded indebtedness if a professional sports franchise relocates its facilities out of state during the agreement term, with a modified repayment obligation if the relocation occurs within five years of the lease ending.

https://house.mo.gov/Bill.aspx?bill=HB2883&year=2026&code=R