HOUSE BILL NO. 1229 103RD GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE COSTLOW.
2742H.01I JOSEPH ENGLER, Chief Clerk
AN ACT To amend chapter 67, RSMo, by adding thereto one new section relating to convention and sports facility authorities.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 67, RSMo, is amended by adding thereto one new section, to be 2 known as section 67.1157, to read as follows: 67.1157. 1. For the purposes of this section, the following terms shall mean: 2 (1) "New state revenues", the incremental increase in the general revenue 3 portion of the state sales tax revenues generated within a project area from the 4 operation of a regional sports facility and received pursuant to section 144.020, 5 excluding sales taxes that are constitutionally dedicated, taxes deposited to the school 6 district trust fund in accordance with section 144.701, sales and use taxes on motor 7 vehicles, trailers, boats and outboard motors, and future sales taxes otherwise 8 designated by law; 9 (2) "Project", the acquisition, planning, construction, equipping, operation, 10 maintenance, repair, extension, and improvement of a regional sports facility, and any 11 new or existing improvements which the authority determines are necessary or 12 convenient to the acquisition, planning, construction, equipping, operation, 13 maintenance, repair, extension, and improvement of a regional sports facility; 14 (3) "Project area", the geographic area where a project is to be located, as 15 designated by the authority and identified in its application to the department of 16 economic development;
EXPLANATION — Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is intended to be omitted from the law. Matter in bold-face type in the above bill is proposed language. HB 1229 2
17 (4) "Regional sports facility", a regional sports facility owned or operated by an 18 authority that is intended to provide year-round sports opportunities and draw 19 participants from outside the state. 20 2. An authority may by resolution designate a project area for a project. Upon 21 such designation by the authority, the project area shall be eligible for an amount not to 22 exceed fifty percent of the new state revenues estimated for the businesses within the 23 project area, as identified by the authority in its application to the department of 24 economic development prior to the designation of the project area by resolution, for a 25 period not to exceed twenty years from the date of completion of the project. Such 26 amount shall be subject to appropriation by the general assembly, as provided in 27 subsection 6 of this section, to the department of economic development regional sports 28 facility supplemental tax fund for distribution to the treasurer or other designated 29 financial officer of the authority with an approved project. 30 3. The treasurer or other designated financial officer of the authority with an 31 approved project shall deposit such funds in a separate segregated account within the 32 funds of the authority. 33 4. No transfer from the general revenue fund to the Missouri regional sports 34 facility supplemental tax fund shall be made unless an appropriation is made from the 35 general revenue fund for that purpose. No authority shall commit any new state 36 revenues prior to an appropriation being made for that project. Appropriations from 37 new state revenues shall not be distributed from the Missouri regional sports facility 38 supplemental tax fund to an authority unless the county which has established the 39 authority has imposed a tax at the maximum rate provided by section 67.1158. 40 5. In order for a project to be eligible to receive the revenue described in 41 subsection 2 of this section, the authority shall comply with the requirements of 42 subsection 6 of this section prior to the time the project is adopted or approved by 43 resolution. The director of the department of economic development and the 44 commissioner of the office of administration may waive the requirement that the 45 authority's application be submitted prior to the project's adoption or approved by 46 resolution. 47 6. The initial appropriation of up to fifty percent of new state revenues 48 authorized pursuant to subsection 2 of this section shall not be made to or distributed by 49 the department of economic development to an authority until all of the following 50 conditions have been satisfied: 51 (1) The director of the department of economic development or his or her 52 designee and the commissioner of the office of administration or his or her designee HB 1229 3
53 have approved an application made by the authority for the appropriation of new state 54 revenues. The authority shall include in the application the following items: 55 (a) A description of the project; 56 (b) A description of the project area, including the businesses currently 57 identified within the project area and the anticipated businesses within the project area 58 upon completion of the project; 59 (c) The base year of state sales tax revenues within the project area prior to 60 approval of the project; 61 (d) An estimate of the incremental increase in the general revenue portion of 62 state sales tax revenue within the project area after completion of the project; 63 (e) The name, street and mailing address, and phone number of the chairman of 64 the authority; 65 (f) The street address or other means of identifying each parcel of property 66 within the project area; 67 (g) The estimated costs of development of the project; 68 (h) The anticipated sources of funds to pay such costs of development of the 69 project; 70 (i) Evidence of commitment to finance such costs of development of the project 71 and the anticipated type and terms of such financing; 72 (j) The anticipated type and terms of any obligations to be issued by the 73 authority pursuant to subdivision (6) of section 67.1155 to finance all or any portion of 74 the project; 75 (k) The general land uses to apply in the project area; 76 (l) The total number of individuals anticipated to be employed in the project 77 area as a result of the project, broken down by full-time, part-time, and temporary 78 positions; 79 (m) The total number of full-time equivalent positions anticipated to be created 80 within the project area upon completion of the project; 81 (n) The average hourly wage to be paid to all new employees within the project 82 area, broken down by full-time, part-time, and temporary positions; 83 (o) A list of other community and economic benefits to result from the project; 84 (p) A list of all development subsidies that any business that benefitted from 85 public expenditures within the project area has requested for the project, and the name 86 of any other granting body from which such subsidies are sought; 87 (q) A list of all other public investments made or to be made by this state or units 88 of local government to support infrastructure or other needs generated by the project 89 for which the funding pursuant to this section is being sought; HB 1229 4
90 (r) A market study for the project area; and 91 (s) A certification by the chairman of the authority as to the accuracy of the 92 information contained in the application; 93 (2) The methodologies used in the application for determining the base year and 94 determining the estimate of the incremental increase in the general revenue portion of 95 the state sales tax revenues shall be approved by the director of the department of 96 economic development or his or her designee and the commissioner of the office of 97 administration or his or her designee. Upon approval of the application, the director of 98 the department of economic development or his or her designee and the commissioner of 99 the office of administration or his or her designee shall issue a certificate of approval. 100 The department of economic development may request the appropriation following 101 application approval; and 102 (3) The appropriation shall be a portion of the estimate of the incremental 103 increase in the general revenue portion of state sales tax revenues in the project area as 104 indicated in the authority's application, approved by the director of the department of 105 economic development or his or her designee and the commissioner of the office of 106 administration or his or her designee. At no time shall the annual amount of new state 107 revenues approved for disbursements from the Missouri regional sports facility 108 supplemental tax fund for approved projects exceed ten million dollars. At no time shall 109 a single project receive an annual appropriation pursuant to this section that exceeds 110 five million dollars. ✔
Statutes affected: