Legislation that would provide tax breaks for amateur sporting events held in Missouri has become the first one sent to Governor Jay Nixon during the 2013 regular session.
The incentives would equal about five dollars per ticket sold, and they would be capped at three million dollars a year. It was sponsored by Republican Senator Eric Schmitt of St. Louis County.
“We believe that this is a really effective way of drawing these events in," says Schmitt. "It allows for sports commissions and these CVBs across the state to compete now with other states, to bring in, whether it’s Final Fours or wrestling championships or AAU tournaments, that can fill up hotel rooms and restaurants for weeks at a time.”
Schmitt says the bill’s passage could also help the St. Louis Sports Commission as it meets with Southeastern Conference officials about someday hosting the SEC Men’s Basketball Tournament. Amateur sporting incentives had failed in years past after getting caught up in the battle between House and Senate Republicans over tax credit reform.