SJR 2 Requires legislative or voter approval prior to the extension of bonds or the offering of tax incentives by a county sports authority
Sponsor: Schaaf
LR Number: 0647S.01I Fiscal Notes
Committee: Economic Development
Last Action: 2/2/2017 - Second Read and Referred S Economic Development Committee Journal Page: S219
Title: Calendar Position:
Effective Date: Upon Voter Approval

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Current Bill Summary

SJR 2 - This constitutional amendment, if approved by the voters, will prohibit the St. Louis Regional Convention and Sports Complex Authority, the St. Charles County Convention and Sports Facilities Authority, and any other county sports complex authority from extending existing bonds where the existing principal will be increased, from extending any additional bonding authority to the executive branch, and from offering any tax incentives, including but not limited to tax credits without legislative or voter approval.

This amendment also prohibits the state from entering into any agreement with any such sports complex authority that will obligate the state to pay back any portion of any newly issued bonds without legislative or voter approval.

This amendment is similar to provisions contained in SCS/SB 580 (2016), SB 330 (2015), and SCS/SBs 460 & 319 (2015).