SS/HCS/HB 677 - This act modifies provisions relating to certain tourism infrastructure facilities.
TOURISM INFRASTRUCTURE FACILITIES
This act allows the State of Missouri and any other public body to expend funds for the purpose of aiding and cooperating in the planning, undertaking or carrying out of a land clearance project or projects to develop, construct, reconstruct, rehabilitate, repair or improve any tourism infrastructure facilities, as defined in the act, which exists as of August 28, 2019, and for which an application is made and approved by the Department of Economic Development by August 28, 2020.
Any expenditure for such a land clearance project shall be limited to a portion of tax revenues derived directly or indirectly from such project as stated in an agreement between the public body and the land clearance for redevelopment authority, provided that the term of any such agreement shall terminate after twenty years of appropriations, the annual amount of state appropriation shall not exceed $2.5 million per year for all fiscal years ending on or before June 30, 2031, and $4.5 million for all subsequent fiscal years, and the project shall be determined to produce a positive net fiscal impact for the state over the term of such agreement. No appropriation shall be made under this act prior to July 1, 2021.
The Director of the Department of Economic Development shall make an annual report detailing the overall net fiscal impact to the state for each project.
For any land clearance project receiving funds under this act that are utilized by a professional sports franchise, if the owners of such franchise relocate the franchise to another state during the terms of the agreement created under the act, such owners shall repay the amount of money paid by the state under such agreement. (Section 99.585)
CONVENTION AND SPORTS COMPLEX FUNDS
The Jackson County and Kansas City Convention and Sports Complex Funds are currently authorized to receive $3 million in state appropriations each year until 2021. This act extends such date to 2031. (Section 67.641)
This act is substantially similar to SB 57 (2019), HB 294 (2019), SS/SCS/SB 663 (2018), HCS/HB 677 (2019), SB 469 (2017), HB 1061 (2017), and HB 2805 (2016), and to provisions contained in HCS/SB 152 (2019).