Missouri 2025 Regular Session

Missouri Senate Bill SB822 Compare Versions

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Old	New	Differences
1	1
2	2	FIRST REGULAR SESSION
3	3	SENATE BILL NO. 822
4	4	103RD GENERAL ASSEMBLY
5	5	INTRODUCED BY SENATOR WASHINGTON.
6	6	2986S.04I KRISTINA MARTIN, Secretary
7	7	AN ACT
8	8	To amend chapter 99, RSMo, by adding thereto four new sections relating to financial incentives
9	9	for certain entertainment facilities.
10	10
11	11	Be it enacted by the General Assembly of the State of Missouri, as follows:
12	12	Section A. Chapter 99, RSMo , is amended by adding thereto 1
13	13	four new sections, to be known as sections 99.1220, 99.1223, 2
14	14	99.1226, and 99.1230, to read as follows:3
15	15	99.1220. 1. Sections 99.1220 to 99.1230 shall be 1
16	16	known and may be cited as the "Missouri Entertainment 2
17	17	Facility - Capital Assistance Program" or "MEF -CAP". 3
18	18	2. Insofar as the provisions of sections 99.1220 to 4
19	19	99.1230 are inconsistent with the provisions of any other 5
20	20	law, the provisions of sections 99.1220 to 99.1230 shall be 6
21	21	controlling. 7
22	22	3. As used in sections 99.1220 to 99.1230, the 8
23	23	following terms shall mean: 9
24	24	(1) "Department", the Missouri department of economic 10
25	25	development; 11
26	26	(2) "Entertainment facility", any sports stadium, 12
27	27	arena, or related facility which has as its primary purpose 13
28	28	use for professional sports or entertainment events; 14
29	29	(3) "MDFB", the Missouri development finance board; 15
30	30	(4) "Professional sports franchise", any professional 16
31	31	sports team that is a member of Major League Baseball, the 17
32	32	National Football League, the National Basketball 18 SB 822 2
33	33	Association, the National Hockey League, Major League 19
34	34	Soccer, the Women's National Basketball Association, or the 20
35	35	National Women's Soccer League; 21
36	36	(5) "Project costs", the costs of acquiring, 22
37	37	constructing, improving, or ren ovating an entertainment 23
38	38	facility, including: 24
39	39	(a) Land acquisition and site preparation; 25
40	40	(b) Construction and materials; 26
41	41	(c) Professional services related to the project; 27
42	42	(d) Financing costs; and 28
43	43	(e) Infrastructure improvemen ts directly related to 29
44	44	the facility; 30
45	45	(6) "Qualified project", an entertainment facility 31
46	46	project that meets all eligibility requirements under 32
47	47	section 99.1223; 33
48	48	(7) "State assistance", financial support provided 34
49	49	pursuant to sections 99.1220 t o 99.1230 through any 35
50	50	combination of state tax increment financing revenues, 36
51	51	withholding tax retention, or matching grants. 37
52	52	99.1223. 1. There is hereby established the "Missouri 1
53	53	Entertainment Facility - Capital Assistance Program" t o be 2
54	54	administered by the department with oversight from the MDFB. 3
55	55	2. To be eligible for state assistance pursuant to 4
56	56	sections 99.1220 to 99.1230, a project shall meet all of the 5
57	57	following criteria: 6
58	58	(1) Have total project costs of at least tw o hundred 7
59	59	fifty million dollars; 8
60	60	(2) Include an entertainment facility with seating 9
61	61	capacity of at least twenty thousand persons; 10
62	62	(3) Have committed private funding of at least thirty - 11
63	63	three percent of total project costs; 12 SB 822 3
64	64	(4) Have local government support through a resolution 13
65	65	from the local governing body committing to either: 14
66	66	(a) Provide at least ten percent of project costs; or 15
67	67	(b) Provide other support and expressing a desire that 16
68	68	the state provide support; 17
69	69	(5) Demonstrate significant economic impact through an 18
70	70	independent economic impact study showing: 19
71	71	(a) The creation or retention of permanent jobs; 20
72	72	(b) Net new economic activity or retention of economic 21
73	73	activity; and 22
74	74	(c) Increased tax revenue to the state of Missouri; 23
75	75	(6) Include a binding commitment from any professional 24
76	76	sports franchise that will be the primary tenant to: 25
77	77	(a) Enter into a lease of at least twenty -five years; 26
78	78	(b) Maintain the team's primary operations in Mis souri 27
79	79	for at least twenty-five years; and 28
80	80	(c) Repay all state assistance received if the team 29
81	81	relocates during the commitment period. 30
82	82	3. (1) For qualified projects, state assistance may 31
83	83	include: 32
84	84	(a) Up to fifty percent of incremental state sales and 33
85	85	income taxes generated by the project through state tax 34
86	86	increment financing for up to twenty -five years; 35
87	87	(b) Retention of fifty percent of state withholding 36
88	88	taxes from new jobs created for up to twenty -five years; and 37
89	89	(c) State matching grants of up to twenty -five percent 38
90	90	of total project costs, not to exceed one hundred million 39
91	91	dollars per project. 40
92	92	(2) Total state assistance through all programs 41
93	93	authorized by sections 99.1220 to 99.1230 shall not exceed 42
94	94	thirty-three percent of total project costs. 43 SB 822 4
95	95	(3) State assistance provided pursuant to sections 44
96	96	99.1220 to 99.1230 may be used in combination with local 45
97	97	economic development incentives, tax abatements, federal 46
98	98	grants or incentives, or other economic developme nt 47
99	99	programs, provided that the total amount of public 48
100	100	assistance from all sources shall not exceed seventy -five 49
101	101	percent of total project costs, or the project shall be 50
102	102	deemed ineligible. 51
103	103	4. (1) Projects receiving assistance pursuant to 52
104	104	sections 99.1220 to 99.1230 shall be eligible for expedited 53
105	105	consideration for: 54
106	106	(a) Up to ten million dollars annually from the tax 55
107	107	imposed pursuant to section 143.183 for up to thirty years; 56
108	108	and 57
109	109	(b) Up to fifty million dollars over three years from 58
110	110	the MDFB. 59
111	111	(2) The department shall create procedures for 60
112	112	projects receiving assistance pursuant to sections 99.1220 61
113	113	to 99.1230 to engage in a preferred application process for 62
114	114	the funds provided in this subsection. 63
115	115	(3) Funding pursuant to t his subsection shall be in 64
116	116	addition to other state assistance authorized pursuant to 65
117	117	sections 99.1220 to 99.1230. 66
118	118	5. There is hereby created in the state treasury the 67
119	119	"State Supplemental Entertainment Facility Fund", which 68
120	120	shall consist of any mo neys appropriated by the general 69
121	121	assembly, as well as from any grants, gifts, bequests, or 70
122	122	other payments from any source. The state treasurer shall 71
123	123	be custodian of the fund. In accordance with sections 72
124	124	30.170 and 30.180, the state treasurer may appr ove 73
125	125	disbursements. Notwithstanding the provisions of section 74
126	126	33.080 to the contrary, any moneys remaining in the fund at 75 SB 822 5
127	127	the end of the biennium shall not revert to the credit of 76
128	128	the general revenue fund. The state treasurer shall invest 77
129	129	moneys in the fund in the same manner as other funds are 78
130	130	invested. Any interest and moneys earned on such 79
131	131	investments shall be credited to the fund. The fund shall 80
132	132	be administered by the department, which shall use the fund 81
133	133	to provide assistance authorized by s ections 99.1220 to 82
134	134	99.1230. 83
135	135	99.1226. 1. Applications for state assistance shall 1
136	136	be submitted to the department in such form and manner as 2
137	137	prescribed by the department. 3
138	138	2. Applications shall include, but not be limited to: 4
139	139	(1) Detailed project plans and specifications; 5
140	140	(2) Project budget and timeline; 6
141	141	(3) Evidence of meeting all eligibility requirements; 7
142	142	(4) Economic impact analysis; 8
143	143	(5) Financial projections and funding commitments; 9
144	144	(6) A clear outline of the type or types of state 10
145	145	assistance requested, and the amount of each type of state 11
146	146	assistance requested; 12
147	147	(7) A binding commitment from any professional sports 13
148	148	franchise that will be the primary tenant to: 14
149	149	(a) Enter into a lease of at least twenty -five years; 15
150	150	(b) Maintain the team's primary operations in Missouri 16
151	151	for at least twenty-five years; and 17
152	152	(c) Repay all state assistance received if the team 18
153	153	relocates during the commitment period; and 19
154	154	(8) Any other information required by the department. 20
155	155	3. (1) The department shall review applications and 21
156	156	make recommendations to the MDFB within ninety days of 22
157	157	receiving a completed application. 23 SB 822 6
158	158	(2) The MDFB shall approve or deny applications within 24
159	159	sixty days of receiving the department's recommendation. 25
160	160	(3) Upon approval, the department shall issue a 26
161	161	certificate outlining the terms and conditions of state 27
162	162	assistance. 28
163	163	99.1230. 1. Any qualified project receiving 1
164	164	assistance pursuant to sections 99.1220 to 99.1230 shall 2
165	165	submit annual reports to the department, which shall include 3
166	166	such information as the department deems appropriate. 4
167	167	2. The department shall establish procedures for 5
168	168	monitoring compliance with the require ments of sections 6
169	169	99.1220 to 99.1230. 7
170	170	3. Any state assistance received shall be subject to 8
171	171	repayment with interest if: 9
172	172	(1) A professional sports franchise relocates during 10
173	173	its commitment period; 11
174	174	(2) The project fails to maintain eligib ility 12
175	175	requirements; or 13
176	176	(3) The recipient is found to have violated the 14
177	177	provisions of sections 99.1220 to 99.1230 or made a 15
178	178	misrepresentation on their application. 16
179	179	4. The department shall promulgate rules to implement 17
180	180	the provisions of secti ons 99.1220 to 99.1230. Any rule or 18
181	181	portion of a rule, as that term is defined in section 19
182	182	536.010, that is created under the authority delegated in 20
183	183	this section shall become effective only if it complies with 21
184	184	and is subject to all of the provisions of chapter 536 and, 22
185	185	if applicable, section 536.028. This section and chapter 23
186	186	536 are nonseverable and if any of the powers vested with 24
187	187	the general assembly pursuant to chapter 536 to review, to 25
188	188	delay the effective date, or to disapprove and annul a rule 26
189	189	are subsequently held unconstitutional, then the grant of 27 SB 822 7
190	190	rulemaking authority and any rule proposed or adopted after 28
191	191	August 28, 2025, shall be invalid and void. 29
192	192	