EXPLANATION-Matter enclosed in bold-faced brackets [thus] in this bill is not enacted
and is intended to be omitted in the law.
FIRST REGULAR SESSION
SENATE BILL NO. 555
103RD GENERAL ASSEMBLY
INTRODUCED BY SENATOR HUDSON.
2200S.01I KRISTINA MARTIN, Secretary
AN ACT
To repeal section 620.467, RSMo, and to enact in lieu thereof one new section relating to the
division of tourism supplemental revenue fund.
Be it enacted by the General Assembly of the State of Missouri, as follows:
Section A. Section 620.467, RSMo, is repealed and one new 1
section enacted in lieu thereof, to be known as section 620.467, 2
to read as follows:3
620.467. 1. [The state treasurer shall annually 1
deposit an amount prescribed in this section out of the 2
general revenue fund pursuant to section 144.700, in a fund ] 3
There is hereby created in the state treasury a special 4
fund, to be known as the "Divisi on of Tourism Supplemental 5
Revenue Fund", which shall consist of all moneys which may 6
be appropriated to it by the general assembly, and also any 7
gifts, contributions, grants, or bequests received from 8
federal, private, or other sources . The state treasurer 9
shall administer the fund, and the moneys in such fund [, 10
except the appropriate percentage of any refund made of 11
taxes collected under the provisions of chapter 144, ] shall 12
be used solely by the division of tourism of the department 13
of economic development to carry out the duties and 14
functions of the division as prescribed by law. [Moneys 15
deposited in the division of tourism supplemental revenue 16
fund shall be in addition to a budget base in each fiscal 17
year. For fiscal year 1994, such budg et base shall be six 18 SB 555 2
million two hundred thousand dollars, and in each succeeding 19
fiscal year the budget base shall be the prior fiscal year's 20
general revenue base plus any additional appropriations made 21
to the division of tourism, including one hundre d percent of 22
the prior fiscal year's deposits made to the division of 23
tourism supplemental revenue fund pursuant to this section. 24
The general revenue base shall decrease by ten percent in 25
each fiscal year following fiscal year 1994. ] 26
Notwithstanding the provisions of section 33.080 to the 27
contrary, moneys in the division of tourism supplemental 28
revenue fund at the end of any biennium shall not be 29
deposited to the credit of the general revenue fund. 30
2. [In fiscal years 1995 to 2020, a portion of general 31
revenue determined pursuant to this subsection shall be 32
deposited to the credit of the division of tourism 33
supplemental revenue fund pursuant to subsection 1 of this 34
section. The director of revenue shall determine the amount 35
deposited to the credit of the division of tourism 36
supplemental revenue fund in each fiscal year by computing 37
the previous year's total appropriation into the division of 38
tourism supplemental revenue fund and adding to such 39
appropriation amount the total amount de rived from the 40
retail sale of tourist -oriented goods and services collected 41
pursuant to the following sales taxes: state sales taxes; 42
sales taxes collected pursuant to sections 144.010 to 43
144.430 that are designated as local tax revenue to be 44
deposited in the school district trust fund pursuant to 45
section 144.701; sales taxes collected pursuant to Section 46
43(a) of Article IV of the Missouri Constitution; and sales 47
taxes collected pursuant to Section 47(a) of Article IV of 48
the Missouri Constitution . If the increase in such sales 49
taxes derived from the retail sale of tourist -oriented goods 50 SB 555 3
and services in the fiscal year three years prior to the 51
fiscal year in which each deposit shall be made is at least 52
three percent over such sales taxes deriv ed from the retail 53
sale of tourist-oriented goods and services generated in the 54
fiscal year four years prior to the fiscal year in which 55
each deposit shall be made, an amount equal to one -half of 56
such sales taxes generated above a three percent increas e 57
shall be calculated by the director of revenue and the 58
amount calculated shall be deposited by the state treasurer 59
to the credit of the division of tourism supplemental 60
revenue fund. 61
3. Total deposits in the supplemental revenue fund in 62
any fiscal year pursuant to subsections 1 and 2 of this 63
section shall not exceed the amount deposited into the 64
division of tourism supplemental revenue fund in the fiscal 65
year immediately preceding the current fiscal year by more 66
than three million dollars. 67
4. As used in this section, "sales of tourism -oriented 68
goods and services" are those sales by businesses registered 69
with the department of revenue under the following SIC Codes: 70
(1) SIC Code 5811; 71
(2) SIC Code 5812; 72
(3) SIC Code 5813; 73
(4) SIC Code 7010; 74
(5) SIC Code 7020; 75
(6) SIC Code 7030; 76
(7) SIC Code 7033; 77
(8) SIC Code 7041; 78
(9) SIC Code 7920; 79
(10) SIC Code 7940; 80
(11) SIC Code 7990; 81
(12) SIC Code 7991; 82 SB 555 4
(13) SIC Code 7992; 83
(14) SIC Code 7996; 84
(15) SIC Code 7998; 85
(16) SIC Code 7999; and 86
(17) SIC Code 8420. 87
5.] Prior to each appropriation from the division of 88
tourism supplemental revenue fund, the division of tourism 89
shall present to the special committee on tourism [, 90
recreational and cultural affairs ] of the house of 91
representatives and to the [transportation and tourism ] 92
economic and workforce development committee of the senate, 93
or their successors, a promotional marketing strategy 94
including, but not limited to, targeted markets, duration of 95
market plans, ensuing market strategies, and the actual and 96
estimated investment return, if any, resulting therefrom. 97
[6. This section shall become effective July 1, 1994. 98
This section shall expire June 30, 2020. ] 99