Each year, a number
of amateur events are hosted around the country. The organizing committees, such as the
National Collegiate Athletic Association, United States Olympic Committee, or
United States Golf Association, scan the country in search of event locations
where their competitions can be held, attended, and successful. These events encourage economic activity from
advertising to local restaurant sales and hotel bookings and many states offer
tax credits to incentivize these selection committees to choose their available
locations.
Senate Bills 10 &
25 would offer a common sense tax credit to encourage Missouri locations to be
selected as venues hosting these types of amateur events that would otherwise
take place in a different state. In
fact, the legislation stipulates that another state must be in consideration
for the event to qualify for the state tax credit. With guarantees that other states would be in
competition, the Republican-led legislature decided in an overwhelmingly
bipartisan fashion that Missouri needed this tax credit incentive to land these
events. The credit rewards those who are
bringing revenue, tourism, jobs and notable events to our State while at the
same time containing significant taxpayer protections. The measure was “Truly Agreed and Finally
Passed” this week, meaning it now only awaits the Governor’s signature to
become law.
