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March 13, 2013

Missouri appears poised to pass sports incentives

Missouri lawmakers appear poised to pass new incentives meant to keep the state in competition to host major sporting events such as the NCAA basketball tournament.

Missouri lawmakers appear poised to pass new incentives meant to keep the state in competition to host major sporting events such as the NCAA basketball tournament.

The Senate already has passed the legislation. A final vote in the House was possible as early as Wednesday.

The bill would provide local governments or nonprofit groups that sponsor amateur sports events a tax credit of $5 for every ticket sold. Those entities then could sell the tax credits, generating cash to help subsidize the sporting event.

The tax credits would be capped at $3 million annually.

Missouri has a history of hosting big-time sports events. But supporters of the legislation say Missouri has been losing out recently to other states that are offering incentives.

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