For Immediate Release: Jan. 31, 2013 | |
Senators Advance Legislation to House of Representatives | |
Measures address various tax credits |
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JEFFERSON CITY — Several Senate bills received the upper chamber’s final approval today, extending the sunsets for various tax credit programs and creating a tax credit to attract certain sporting events to the Show-Me State. Senate Bill 20, sponsored by Sen. Bob Dixon, R-Springfield, and Senate Bill 10, sponsored by Sen. Eric Schmitt, R-Glendale, are the first Senate bills of 2013 voted out of the chamber and sent to the House for similar consideration. Senate Bill 20 changes Missouri law regarding certain benevolent tax credit programs by:
Senate Bill 20, perfected by the Missouri Senate on Monday and given final approval by senators today, contains an emergency clause, meaning it would immediately become law upon receipt of the governor’s signature. Senate Bill 10, also passed out of the Senate today, creates a tax credit to attract amateur sporting events to Missouri. More specifically, the act would create a refundable income and financial institutions tax credit which would be available for sports commissions, certain nonprofit organizations, counties and municipalities to offset expenses incurred in attracting amateur sporting events to the state, such as the Olympics trials and national collegiate championship games. This measure would take effect on Aug. 28 if passed out of the General Assembly and signed by the governor. |