Mo. Gov. Nixon Signs Amateur Sporting Events & Benevolent Tax Credit Bills Into Law
Two tax credit bills passed by Missouri lawmakers have become the first ones signed into law this year by Governor Jay Nixon (D).
First, Senate Bill 20 reinstates tax breaks for food pantries, pregnancy resource centers run by pro-life groups, and the Children in Crisis program, now renamed the “Champion for Children” program after retired State Senator Norma Champion (R, Springfield). The bill was sponsored by her successor, fellow Republican Bob Dixon of Springfield.
“The benevolent tax credits were allowed to expire last year because of disagreement within the legislature on how to move forward with tax credit reform,” Dixon said.
Due to an emergency clause, the law takes effect immediately and the incentives can be applied for retroactively to January 1st. It also extends the expiration date from 2013 to 2019 for tax breaks for surviving spouses of slain law enforcement officers.
“When you’re filling up hotel rooms and restaurants and bars for a week, when families from across the Midwest are there in your town, it can mean a lot for those local economies," Schmitt said. "This is really something that a lot of people have worked really hard on, and I think it puts Missouri in a much more competitive position.”
The amateur sports tax credit law takes effect August 28th, and limits incentives to $3 million per year.
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