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 $5 per ticket sold, and they would be capped at $3 million 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,” Schmitt said. “It allows for sports commissions and these CVB’s across the state to compete now with other states, to bring in, whether it’s Final Four’s 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.