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Missouri Senate Bill SB184

Missouri 2025 Regular Session

Missouri Senate Bill SB184 Compare Versions

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1-0264S.02C
2- 1
3-SENATE COMMITTEE SUBSTITUTE
4-FOR
1+
2+EXPLANATION-Matter enclosed in bold-faced brackets [thus] in this bill is not enacted
3+and is intended to be omitted in the law.
4+FIRST REGULAR SESSION
55 SENATE BILL NO. 184
6+103RD GENERAL ASSEMBLY
7+INTRODUCED BY SENATOR CIERPIOT.
8+0264S.01I KRISTINA MARTIN, Secretary
69 AN ACT
7-To repeal sections 67.3000 and 67.3005, RSMo, and to
8-enact in lieu thereof two new sections relating to
9-tax credits for certain sporting events.
10+To repeal sections 67.3000 and 67.3005, RSMo, and to enact in lieu thereof two new sections
11+relating to tax credits for certain sporting events.
1012
1113 Be it enacted by the General Assembly of the State of Missouri, as follows:
12- Section A. Sections 67.3000 and 67.3005, RSMo, are
13-repealed and two new sections enacted in lieu thereof, to be
14-known as sections 67.3000 and 67.3005, to read as follows:
15- 67.3000. 1. As used in this section and section
16-67.3005, the following words shall mean:
17- (1) "Active member", an organization located in the
18-state of Missouri which solicits and services sports events,
19-sports organizations, and other types of sports -related
20-activities in that community;
21- (2) "Applicant" or "applicants", one or more certified
22-sponsors, endorsing counties, endorsing municipalities, or a
23-local organizing committee, acting individually or
24-collectively;
25- (3) "Certified sponsor" or "certified sponsors", a
26-nonprofit organization which is an ac tive member of the
27-[National Association of Sports Commissions ] Sports Events
28-and Tourism Association ;
29- (4) "Department", the Missouri department of economic
30-development;
31- (5) "Director", the director of revenue;
32- (6) ["Eligible costs" shall include:
33- (a) Costs necessary for conducting the sporting event;
34- (b) Costs relating to the preparations necessary for
35-the conduct of the sporting event; and
36- 2
37- (c) An applicant's pledged obligations to the site
38-selection organization as evidenced by the support contract
39-for the sporting event including, but not limited to, bid
40-fees and financial guarantees.
41-Eligible costs shall not include any cost associated with
42-the rehabilitation or construction of any facilities used to
43-host the sporting event or direct payments to a for -profit
44-site selection organization, but may include costs
45-associated with the retrofitting of a facility necessary to
46-accommodate the sporting event;
47- (7)] "Eligible donation", donations received, by a
48-certified sponsor or local organizing committee, from a
49-taxpayer that may include cash, publicly traded stocks and
50-bonds, and real estate that will be valued and documented
51-according to rules promulgated by the department. Such
52-donations shall be used s olely to provide funding to attract
53-sporting events to this state;
54- [(8)] (7) "Endorsing municipality" or "endorsing
55-municipalities", any city, town, incorporated village, or
56-county that contains a site selected by a site selection
57-organization for one or more sporting events;
58- [(9)] (8) "Joinder agreement", an agreement entered
59-into by one or more applicants, acting individually or
60-collectively, and a site selection organization setting out
61-representations and assurances by each applicant in
62-connection with the selection of a site in this state for
63-the location of a sporting event;
64- [(10)] (9) "Joinder undertaking", an agreement entered
65-into by one or more applicants, acting individually or
66-collectively, and a site selection organi zation that each
67-applicant will execute a joinder agreement in the event that
68-the site selection organization selects a site in this state
69-for a sporting event;
70- 3
71- [(11)] (10) "Local organizing committee", a nonprofit
72-corporation or its successor in interest that:
73- (a) Has been authorized by one or more certified
74-sponsors, endorsing municipalities, or endorsing counties,
75-acting individually or collectively, to pursue an
76-application and bid on its or the applicant's behalf to a
77-site selection organization for selection as the host of one
78-or more sporting events; or
79- (b) With the authorization of one or more certified
80-sponsors, endorsing municipalities, or endorsing counties,
81-acting individually or collectively, executes an agreement
82-with a site selection organization regarding a bid to host
83-one or more sporting events;
84- (11) "Registered participant", an individual who is
85-registered to compete in a sporting event, or an athlete,
86-coach, or other individual who is part of a team's official
87-contingent with an official capacity for such sporting event;
88- (12) "Site selection organization", the National
89-Collegiate Athletic Association (NCAA); an NCAA member
90-conference, university, or institution; the National
91-Association of Intercollegiate Athletics (NAIA); the United
92-States Olympic & Paralympic Committee [(USOC)] (USOPC); a
93-national governing body (NGB) or international federation of
94-a sport recognized by the [USOC] USOPC; the United States
95-Golf Association (USGA); the Uni ted States Tennis
96-Association (USTA); the Amateur Athletic Union (AAU); the
97-National Christian College Athletic Association (NCCAA); the
98-National Junior College Athletic Association (NJCAA); the
99-United States Sports Specialty Association (USSSA); any
100-rights holder member of the [National Association of Sports
101-Commissions (NASC)] Sports Events and Tourism Association
102-(Sports ETA); other major regional, national, and
103-international sports associations, and amateur organizations
104- 4
105-that promote, organize, or administer sporting games or
106-competitions; or other major regional, national, and
107-international organizations that promote or organize
108-sporting events;
109- (13) "Sporting event" or "sporting events", an
110-amateur, collegiate, or Olympic sporting ev ent that is
111-competitively bid or is awarded by a site selection
112-organization;
113- (14) "Support contract" or "support contracts", an
114-event award notification, joinder undertaking, joinder
115-agreement, or contract executed by an applicant and a site
116-selection organization;
117- (15) "Tax credit" or "tax credits", a credit or
118-credits issued by the department against the tax otherwise
119-due under chapter 143 or 148, excluding withholding tax
120-imposed under sections 143.191 to 143.265;
121- (16) "Taxpayer", any of the following individuals or
122-entities who make an eligible donation:
123- (a) A person, firm, partner in a firm, corporation, or
124-a shareholder in an S corporation doing business in the
125-state of Missouri and subject to the state income tax
126-imposed under chapter 143;
127- (b) A corporation subject to the annual corporation
128-franchise tax imposed under chapter 147;
129- (c) An insurance company paying an annual tax on its
130-gross premium receipts in this state;
131- (d) Any other financial in stitution paying taxes to
132-the state of Missouri or any political subdivision of this
133-state under chapter 148;
134- (e) An individual subject to the state income tax
135-imposed under chapter 143;
136- (f) Any charitable organization which is exempt from
137-federal income tax and whose Missouri unrelated business
138- 5
139-taxable income, if any, would be subject to the state income
140-tax imposed under chapter 143.
141- 2. An applicant may submit a copy of a support
142-contract for a sporting event to the department. Within
143-sixty days of receipt of the sporting event support
144-contract, the department may review the applicant's support
145-contract and certify such support contract if it complies
146-with the requirements of this section. Upon certification
147-of the support contract by the department, the applicant may
148-be authorized to receive the tax credit under subsection 4
149-of this section.
150- 3. No more than ninety days following the conclusion
151-of the sporting event, the applicant shall submit [eligible
152-costs and documentation of the costs evidenced by receipts,
153-paid invoices, event settlements, or other documentation in
154-a manner prescribed by the department. Eligible costs may
155-be paid by the applicant or an entity cohosting the event
156-with the applicant] a ticket sales or box office statement
157-verifying the total number of tickets sold for such event,
158-or, if such event was participant -based, a list of all
159-registered participants .
160- 4. (1) [No later than seven days following the
161-conclusion of the sporting event, the department, in
162-consultation with the director, shall determine the total
163-number of tickets sold at face value for such event or, if
164-such event was participant -based and did not sell admission
165-tickets, the total number of paid participant reg istrations.
166- (2)] No later than sixty days following the receipt of
167-[eligible costs and] documentation of [such costs] ticket
168-sales or registered participants from the applicant as
169-required in subsection 3 of this section, the department
170-shall, except for the limitations under subsection 5 of this
171- 6
172-section, issue a certificate for a refundable tax credit to
173-the applicant for [the least of]:
174- (a) [One hundred percent of eligible costs incurred by
175-the applicant;
176- (b)] An amount equal to [five] six dollars for every
177-admission ticket sold to such event; or
178- [(c)] (b) An amount equal to [ten] twelve dollars for
179-every [paid] registered participant [registration] if such
180-event was participant -based [and did not sell admission
181-tickets].
182-The calculations under paragraphs [(b)] (a) and [(c)] (b) of
183-this subdivision shall use the actual number of tickets sold
184-or [registrations paid] registered participants , not an
185-estimated amount.
186- (2) The department of revenue shall issue a refund of
187-the refundable tax credit to the applicant within ninety
188-days of the applicant's submission of a valid tax credit
189-certificate issued in accordance with subdivision (1) of
190-this subsection. Notwithstanding any provision of law to
191-the contrary, this may include a refund issued in advance of
192-the close of the tax period to which the tax credit applies.
193- (3) Tax credits authorized by this section may be
194-claimed against taxes imposed by chapters 143 and 148 [and
195-shall be claimed within one year o f the close of the tax
196-year for which the credits were issued ]. Tax credits
197-authorized by this section [may] shall not be transferred,
198-sold, or assigned [by filing a notarized endorsement thereof
199-with the department that names the transferee, the amou nt of
200-tax credit transferred, and the value received for the
201-credit, as well as any other information reasonably
202-requested by the department ]. Notwithstanding any provision
203-of law to the contrary, tax credits authorized by this
204-section may be refunde d at any time following issuance, even
205- 7
206-prior to the close of the tax period for which the credits
207-were issued. An erroneous, excessive, or improper refund of
208-these tax credits shall be considered an underpayment of tax
209-on the date made. If any applicant is issued tax credits
210-pursuant to this section that are refunded to such
211-applicant, but the department of revenue later determines
212-that the applicant receiving the credits owes or owed taxes
213-that were not paid for the tax year for which the tax cre dit
214-was issued, such applicant shall pay to the department of
215-revenue the applicant's tax liability still due, including
216-any underpayment caused by the erroneous, excessive, or
217-improper refund of these tax credits.
218- 5. In no event shall the amount of tax credits issued
219-by the department under subsection 4 of this section exceed
220-three million dollars in any fiscal year. For all events
221-located within the following counties, the total amount of
222-tax credits issued shall not exceed two million seve n
223-hundred thousand dollars in any fiscal year:
224- (1) A county with a charter form of government and
225-with more than six hundred thousand inhabitants; or
226- (2) A city not within a county.
227- 6. An applicant shall provide any information
228-necessary as determined by the department for the department
229-and the director to fulfill the duties required by this
230-section. At any time upon the request of the state of
231-Missouri, a certified sponsor shall subject itself to an
232-audit conducted by the state.
233- 7. This section shall not be construed as creating or
234-requiring a state guarantee of obligations imposed on an
235-endorsing municipality under a support contract or any other
236-agreement relating to hosting one or more sporting events in
237-this state.
238- 8
239- 8. The department shall only certify an applicant's
240-support contract for a sporting event in which the site
241-selection organization has yet to select a location for the
242-sporting event as of December 1, 2012. No support contract
243-shall be certified unless the site selection organization
244-has chosen to use a location in this state from competitive
245-bids, at least one of which was a bid for a location outside
246-of this state, except that competitive bids shall not be
247-required for any previously -awarded event whose site
248-selection organization extends its contractual agreement
249-with the event's certified sponsor or for any [post-season]
250-neutral-site collegiate [football game or other neutral -
251-site] game with at least one out -of-state team. Support
252-contracts shall not be certified by the department after
253-August 28, [2025] 2032, provided that the support contracts
254-may be certified on or prior to August 28, [2025] 2032, for
255-sporting events that will be held after such date.
256- 9. The department may promulgate rules as necessary to
257-implement the provisions of this section. Any rule or
258-portion of a rule, as that term is defined in section
259-536.010, that is created under the authority delegated in
260-this section shall become effective only if it compl ies with
261-and is subject to all of the provisions of chapter 536 and,
262-if applicable, section 536.028. This section and chapter
263-536 are nonseverable and if any of the powers vested with
264-the general assembly pursuant to chapter 536 to review, to
265-delay the effective date, or to disapprove and annul a rule
266-are subsequently held unconstitutional, then the grant of
267-rulemaking authority and any rule proposed or adopted after
268-August 28, 2013, shall be invalid and void.
269- 10. The repeal and reenactment o f subsection 8 of this
270-section shall become effective August 28, 2025, and the
271-repeal and reenactment of the remainder of the provisions of
272- 9
273-this section shall become effective July 1, 2026, and shall
274-apply only to tax credits issued on or after July 1, 2026.
275- 67.3005. 1. For all tax years beginning on or after
276-January 1, 2013, any taxpayer shall be allowed a credit
277-against the taxes otherwise due under chapter 143, 147, or
278-148, excluding withholding tax imposed by sections 143.191
279-to 143.265, in an amount equal to fifty percent of the
280-amount of an eligible donation, subject to the restrictions
281-in this section. The amount of the tax credit claimed shall
282-not exceed the amount of the taxpayer's state income tax
283-liability in the tax year for which the credit is claimed.
284-Any amount of credit that the taxpayer is prohibited by this
285-section from claiming in a tax year shall not be refundable,
286-but may be carried forward to any of the taxpayer's two
287-subsequent tax years.
288- 2. To claim the credit authorized in this section, a
289-certified sponsor or local organizing committee shall submit
290-to the department an application for the tax credit
291-authorized by this section on behalf of taxpayers. The
292-department shall verify that the app licant has submitted the
293-following items accurately and completely:
294- (1) A valid application in the form and format
295-required by the department;
296- (2) A statement attesting to the eligible donation
297-received, which shall include the name and taxp ayer
298-identification number of the individual making the eligible
299-donation, the amount of the eligible donation, and the date
300-the eligible donation was received; and
301- (3) Payment from the certified sponsor or local
302-organizing committee equal to the value of the tax credit
303-for which application is made.
304-If the certified sponsor or local organizing committee
305-applying for the tax credit meets all criteria required by
306- 10
307-this subsection, the department shall issue a certificate in
308-the appropriate amoun t.
309- 3. Tax credits issued under this section may be
310-assigned, transferred, sold, or otherwise conveyed, and the
311-new owner of the tax credit shall have the same rights in
312-the credit as the taxpayer. Whenever a certificate is
313-assigned, transferred, sold, or otherwise conveyed, a
314-notarized endorsement shall be filed with the department
315-specifying the name and address of the new owner of the tax
316-credit or the value of the credit. In no event shall the
317-amount of tax credits issued by the departmen t under this
318-section exceed [ten million] five hundred thousand dollars
319-in any fiscal year.
320- 4. The department shall promulgate rules to implement
321-the provisions of this section. Any rule or portion of a
322-rule, as that term is defined in section 5 36.010, that is
323-created under the authority delegated in this section shall
324-become effective only if it complies with and is subject to
325-all of the provisions of chapter 536 and, if applicable,
326-section 536.028. This section and chapter 536 are
327-nonseverable and if any of the powers vested with the
328-general assembly pursuant to chapter 536 to review, to delay
329-the effective date, or to disapprove and annul a rule are
330-subsequently held unconstitutional, then the grant of
331-rulemaking authority and any rul e proposed or adopted after
332-August 28, 2013, shall be invalid and void.
333- 5. Under section 23.253 of the Missouri sunset act:
334- (1) The provisions of the new program authorized under
335-this section and section 67.3000 [and under this section ]
336-shall automatically sunset six years after August 28, [2019]
337-2026, unless reauthorized by an act of the general assembly;
338-and
339- 11
340- (2) If such program is reauthorized, the program
341-authorized under this section and section 67.3000 [and under
342-this section] shall automatically sunset twelve years after
343-the effective date of the reauthorization of these sections;
344-and
345- (3) Section 67.3000 and this section shall terminate
346-on September first of the calendar year immediately
347-following the calendar year in which the program authorized
348-under these sections is sunset.
349- 6. The repeal and reenactment of subsection 5 of this
350-section shall become effective August 28, 2025, and the
351-repeal and reenactment of the remainder of the provisions of
352-this section shall become effective July 1, 2026, and shall
353-apply only to tax credits issued on or after July 1, 2026.
14+ Section A. Sections 67.3000 and 67.3005, RSMo, are 1
15+repealed and two new sections enacted in lieu thereof, to be 2
16+known as sections 67.3000 and 67.3005, to read as follows:3
17+ 67.3000. 1. As used in this section and section 1
18+67.3005, the following words shall mean: 2
19+ (1) "Active member", an organization located in the 3
20+state of Missouri which solicits and services sports events, 4
21+sports organizations, and other types of sports -related 5
22+activities in that community; 6
23+ (2) "Applicant" or "applicants", one or more certified 7
24+sponsors, endorsing counties, endorsing municipalities, or a 8
25+local organizing committee, acting individually or 9
26+collectively; 10
27+ (3) "Certified sponsor" or "certified sponsors", a 11
28+nonprofit organization which is an active member of the 12
29+[National Association of Sports Commissions ] Sports Events 13
30+and Tourism Association ; 14
31+ (4) "Department", the Missouri depar tment of economic 15
32+development; 16
33+ (5) "Director", the director of revenue; 17
34+ (6) ["Eligible costs" shall include: 18 SB 184 2
35+ (a) Costs necessary for conducting the sporting event; 19
36+ (b) Costs relating to the preparations necessary for 20
37+the conduct of the sporting event; and 21
38+ (c) An applicant's pledged obligations to the site 22
39+selection organization as evidenced by the support contract 23
40+for the sporting event including, but not limited to, bid 24
41+fees and financial guarantees. 25
42+Eligible costs shall not include any cost associated with 26
43+the rehabilitation or construction of any facilities used to 27
44+host the sporting event or direct payments to a for -profit 28
45+site selection organization, but may include costs 29
46+associated with the retrofitting of a facili ty necessary to 30
47+accommodate the sporting event; 31
48+ (7)] "Eligible donation", donations received, by a 32
49+certified sponsor or local organizing committee, from a 33
50+taxpayer that may include cash, publicly traded stocks and 34
51+bonds, and real estate that will be valued and documented 35
52+according to rules promulgated by the department. Such 36
53+donations shall be used solely to provide funding to attract 37
54+sporting events to this state; 38
55+ [(8)] (7) "Endorsing municipality" or "endorsing 39
56+municipalities", any ci ty, town, incorporated village, or 40
57+county that contains a site selected by a site selection 41
58+organization for one or more sporting events; 42
59+ [(9)] (8) "Joinder agreement", an agreement entered 43
60+into by one or more applicants, acting individually or 44
61+collectively, and a site selection organization setting out 45
62+representations and assurances by each applicant in 46
63+connection with the selection of a site in this state for 47
64+the location of a sporting event; 48 SB 184 3
65+ [(10)] (9) "Joinder undertaking", an agreeme nt entered 49
66+into by one or more applicants, acting individually or 50
67+collectively, and a site selection organization that each 51
68+applicant will execute a joinder agreement in the event that 52
69+the site selection organization selects a site in this state 53
70+for a sporting event; 54
71+ [(11)] (10) "Local organizing committee", a nonprofit 55
72+corporation or its successor in interest that: 56
73+ (a) Has been authorized by one or more certified 57
74+sponsors, endorsing municipalities, or endorsing counties, 58
75+acting individually or collectively, to pursue an 59
76+application and bid on its or the applicant's behalf to a 60
77+site selection organization for selection as the host of one 61
78+or more sporting events; or 62
79+ (b) With the authorization of one or more certified 63
80+sponsors, endorsing municipalities, or endorsing counties, 64
81+acting individually or collectively, executes an agreement 65
82+with a site selection organization regarding a bid to host 66
83+one or more sporting events; 67
84+ (11) "Registered participant", an individual who is 68
85+registered to compete in a sporting event, or an athlete, 69
86+coach, or other individual who is part of a team's official 70
87+contingent with an official capacity for such sporting event; 71
88+ (12) "Site selection organization", the National 72
89+Collegiate Athletic Association (NCAA); an NCAA member 73
90+conference, university, or institution; the National 74
91+Association of Intercollegiate Athletics (NAIA); the United 75
92+States Olympic & Paralympic Committee [(USOC)] (USOPC); a 76
93+national governing body (NGB) or internation al federation of 77
94+a sport recognized by the [USOC] USOPC; the United States 78
95+Golf Association (USGA); the United States Tennis 79
96+Association (USTA); the Amateur Athletic Union (AAU); the 80 SB 184 4
97+National Christian College Athletic Association (NCCAA); the 81
98+National Junior College Athletic Association (NJCAA); the 82
99+United States Sports Specialty Association (USSSA); any 83
100+rights holder member of the [National Association of Sports 84
101+Commissions (NASC)] Sports Events and Tourism Association 85
102+(Sports ETA); other major regional, national, and 86
103+international sports associations, and amateur organizations 87
104+that promote, organize, or administer sporting games or 88
105+competitions; or other major regional, national, and 89
106+international organizations that promote or organize 90
107+sporting events; 91
108+ (13) "Sporting event" or "sporting events", an 92
109+amateur, collegiate, or Olympic sporting event that is 93
110+competitively bid or is awarded by a site selection 94
111+organization; 95
112+ (14) "Support contract" or "support contracts", an 96
113+event award notification, joinder undertaking, joinder 97
114+agreement, or contract executed by an applicant and a site 98
115+selection organization; 99
116+ (15) "Tax credit" or "tax credits", a credit or 100
117+credits issued by the department against the tax otherwise 101
118+due under chapter 143 or 148, excluding withholding tax 102
119+imposed under sections 143.191 to 143.265; 103
120+ (16) "Taxpayer", any of the following individuals or 104
121+entities who make an eligible donation: 105
122+ (a) A person, firm, partner in a firm, corporation, or 106
123+a shareholder in an S corporation doing business in the 107
124+state of Missouri and subject to the state income tax 108
125+imposed under chapter 143; 109
126+ (b) A corporation subject to the annual corporation 110
127+franchise tax imposed under chapter 147; 111 SB 184 5
128+ (c) An insurance company paying an annual tax on its 112
129+gross premium receipts in this state; 113
130+ (d) Any other financial institution paying taxes to 114
131+the state of Missouri or any political subdivision of this 115
132+state under chapter 148; 116
133+ (e) An individual subject to the state income tax 117
134+imposed under chapter 143; 118
135+ (f) Any charitable organization which is exempt from 119
136+federal income tax and whose Missouri unrelated business 120
137+taxable income, if any, would be subject to the state income 121
138+tax imposed under chapter 1 43. 122
139+ 2. An applicant may submit a copy of a support 123
140+contract for a sporting event to the department. Within 124
141+sixty days of receipt of the sporting event support 125
142+contract, the department may review the applicant's support 126
143+contract and certify such support contract if it complies 127
144+with the requirements of this section. Upon certification 128
145+of the support contract by the department, the applicant may 129
146+be authorized to receive the tax credit under subsection 4 130
147+of this section. 131
148+ 3. No more than ninety days following the conclusion 132
149+of the sporting event, the applicant shall submit [eligible 133
150+costs and documentation of the costs evidenced by receipts, 134
151+paid invoices, event settlements, or other documentation in 135
152+a manner prescribed by the department . Eligible costs may 136
153+be paid by the applicant or an entity cohosting the event 137
154+with the applicant] a ticket sales or box office statement 138
155+verifying the total number of tickets sold for such event, 139
156+or, if such event was participant -based, a list of all 140
157+registered participants . 141
158+ 4. (1) [No later than seven days following the 142
159+conclusion of the sporting event, the department, in 143 SB 184 6
160+consultation with the director, shall determine the total 144
161+number of tickets sold at face value for such event or, if 145
162+such event was participant -based and did not sell admission 146
163+tickets, the total number of paid participant registrations. 147
164+ (2)] No later than sixty days following the receipt of 148
165+[eligible costs and] documentation of [such costs] ticket 149
166+sales or registered participants from the applicant as 150
167+required in subsection 3 of this section, the department 151
168+shall, except for the limitations under subsection 5 of this 152
169+section, issue a certificate for a refundable tax credit to 153
170+the applicant for [the least of]: 154
171+ (a) [One hundred percent of eligible costs incurred by 155
172+the applicant; 156
173+ (b)] An amount equal to [five] six dollars for every 157
174+admission ticket sold to such event; or 158
175+ [(c)] (b) An amount equal to [ten] twelve dollars for 159
176+every [paid] registered participant [registration] if such 160
177+event was participant -based [and did not sell admission 161
178+tickets]. 162
179+The calculations under paragraphs [(b)] (a) and [(c)] (b) of 163
180+this subdivision shall use the actual number of tickets sold 164
181+or [registrations paid] registered participants , not an 165
182+estimated amount. 166
183+ (2) The department of revenue shall pay the amount of 167
184+the refundable tax credit to the applicant within ninety 168
185+days of the applicant's submission of a valid tax credit 169
186+certificate issued in acco rdance with subdivision (1) of 170
187+this subsection. 171
188+ (3) Tax credits authorized by this section may be 172
189+claimed against taxes imposed by chapters 143 and 148 [and 173
190+shall be claimed within one year of the close of the tax 174 SB 184 7
191+year for which the credits were issued]. Tax credits 175
192+authorized by this section [may] shall not be transferred, 176
193+sold, or assigned [by filing a notarized endorsement thereof 177
194+with the department that names the transferee, the amount of 178
195+tax credit transferred, and the value received fo r the 179
196+credit, as well as any other information reasonably 180
197+requested by the department ]. Tax credits authorized by 181
198+this section shall be refundable at any time following 182
199+issuance and shall not be required to offset taxes estimated 183
200+or otherwise due. If any taxpayer is awarded tax credits 184
201+under this section that are refunded to such taxpayer but 185
202+the department of revenue later determines that the taxpayer 186
203+receiving the credits still owed taxes that were not paid in 187
204+the tax year that the tax credit w as applied, such taxpayer 188
205+shall repay the state an amount equal to the amount of the 189
206+tax credits already refunded or the amount of the taxpayer's 190
207+tax liability still due, whichever is less. The department 191
208+of revenue may promulgate such rules as are ne cessary to 192
209+administer such clawback provisions under this subdivision. 193
210+ 5. In no event shall the amount of tax credits issued 194
211+by the department under subsection 4 of this section exceed 195
212+[three] six million dollars in any fiscal year. For all 196
213+events located within the following counties, the total 197
214+amount of tax credits issued shall not exceed [two] five 198
215+million [seven] five hundred thousand dollars in any fiscal 199
216+year: 200
217+ (1) A county with a charter form of government and 201
218+with more than six h undred thousand inhabitants; or 202
219+ (2) A city not within a county. 203
220+ 6. An applicant shall provide any information 204
221+necessary as determined by the department for the department 205
222+and the director to fulfill the duties required by this 206 SB 184 8
223+section. At any time upon the request of the state of 207
224+Missouri, a certified sponsor shall subject itself to an 208
225+audit conducted by the state. 209
226+ 7. This section shall not be construed as creating or 210
227+requiring a state guarantee of obligations imposed on an 211
228+endorsing municipality under a support contract or any other 212
229+agreement relating to hosting one or more sporting events in 213
230+this state. 214
231+ 8. The department shall only certify an applicant's 215
232+support contract for a sporting event in which the site 216
233+selection organization has yet to select a location for the 217
234+sporting event as of December 1, 2012. No support contract 218
235+shall be certified unless the site selection organization 219
236+has chosen to use a location in this state from competitive 220
237+bids, at least one of whi ch was a bid for a location outside 221
238+of this state, except that competitive bids shall not be 222
239+required for any previously -awarded event whose site 223
240+selection organization extends its contractual agreement 224
241+with the event's certified sponsor or for any [post-season] 225
242+neutral-site collegiate [football game or other neutral - 226
243+site] game with at least one out -of-state team. Support 227
244+contracts shall not be certified by the department after 228
245+August 28, [2025] 2032, provided that the support contracts 229
246+may be certified on or prior to August 28, [2025] 2032, for 230
247+sporting events that will be held after such date. 231
248+ 9. The department may promulgate rules as necessary to 232
249+implement the provisions of this section. Any rule or 233
250+portion of a rule, as that term is d efined in section 234
251+536.010, that is created under the authority delegated in 235
252+this section shall become effective only if it complies with 236
253+and is subject to all of the provisions of chapter 536 and, 237
254+if applicable, section 536.028. This section and chapt er 238 SB 184 9
255+536 are nonseverable and if any of the powers vested with 239
256+the general assembly pursuant to chapter 536 to review, to 240
257+delay the effective date, or to disapprove and annul a rule 241
258+are subsequently held unconstitutional, then the grant of 242
259+rulemaking authority and any rule proposed or adopted after 243
260+August 28, 2013, shall be invalid and void. 244
261+ 67.3005. 1. For all tax years beginning on or after 1
262+January 1, 2013, any taxpayer shall be allowed a credit 2
263+against the taxes otherwise due u nder chapter 143, 147, or 3
264+148, excluding withholding tax imposed by sections 143.191 4
265+to 143.265, in an amount equal to fifty percent of the 5
266+amount of an eligible donation, subject to the restrictions 6
267+in this section. The amount of the tax credit claim ed shall 7
268+not exceed the amount of the taxpayer's state income tax 8
269+liability in the tax year for which the credit is claimed. 9
270+Any amount of credit that the taxpayer is prohibited by this 10
271+section from claiming in a tax year shall not be refundable, 11
272+but may be carried forward to any of the taxpayer's two 12
273+subsequent tax years. 13
274+ 2. To claim the credit authorized in this section, a 14
275+certified sponsor or local organizing committee shall submit 15
276+to the department an application for the tax credit 16
277+authorized by this section on behalf of taxpayers. The 17
278+department shall verify that the applicant has submitted the 18
279+following items accurately and completely: 19
280+ (1) A valid application in the form and format 20
281+required by the department; 21
282+ (2) A statement attesting to the eligible donation 22
283+received, which shall include the name and taxpayer 23
284+identification number of the individual making the eligible 24
285+donation, the amount of the eligible donation, and the date 25
286+the eligible donation was received; and 26 SB 184 10
287+ (3) Payment from the certified sponsor or local 27
288+organizing committee equal to the value of the tax credit 28
289+for which application is made. 29
290+If the certified sponsor or local organizing committee 30
291+applying for the tax credit meets all criteria required by 31
292+this subsection, the department shall issue a certificate in 32
293+the appropriate amount. 33
294+ 3. Tax credits issued under this section may be 34
295+assigned, transferred, sold, or otherwise conveyed, and the 35
296+new owner of the tax credit shall have the same r ights in 36
297+the credit as the taxpayer. Whenever a certificate is 37
298+assigned, transferred, sold, or otherwise conveyed, a 38
299+notarized endorsement shall be filed with the department 39
300+specifying the name and address of the new owner of the tax 40
301+credit or the value of the credit. In no event shall the 41
302+amount of tax credits issued by the department under this 42
303+section exceed [ten million] five hundred thousand dollars 43
304+in any fiscal year. 44
305+ 4. The department shall promulgate rules to implement 45
306+the provisions of this section. Any rule or portion of a 46
307+rule, as that term is defined in section 536.010, that is 47
308+created under the authority delegated in this section shall 48
309+become effective only if it complies with and is subject to 49
310+all of the provisions of chap ter 536 and, if applicable, 50
311+section 536.028. This section and chapter 536 are 51
312+nonseverable and if any of the powers vested with the 52
313+general assembly pursuant to chapter 536 to review, to delay 53
314+the effective date, or to disapprove and annul a rule are 54
315+subsequently held unconstitutional, then the grant of 55
316+rulemaking authority and any rule proposed or adopted after 56
317+August 28, 2013, shall be invalid and void. 57 SB 184 11
318+ 5. Under section 23.253 of the Missouri sunset act: 58
319+ (1) The provisions of the new p rogram authorized under 59
320+this section and section 67.3000 [and under this section ] 60
321+shall automatically sunset six years after August 28, [2019] 61
322+2026, unless reauthorized by an act of the general assembly; 62
323+and 63
324+ (2) If such program is reauthorized, t he program 64
325+authorized under this section and section 67.3000 [and under 65
326+this section] shall automatically sunset twelve years after 66
327+the effective date of the reauthorization of these sections; 67
328+and 68
329+ (3) Section 67.3000 and this section shall termin ate 69
330+on September first of the calendar year immediately 70
331+following the calendar year in which the program authorized 71
332+under these sections is sunset. 72
333+