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Mo. Senate passes new sports tax credit

Mo. Senate passes new sports tax credit

January 31st, 2013 in News

JEFFERSON CITY, Mo. (AP) - The Missouri Senate has passed a pair of bills authorizing incentives for big-time time sports events and re-instating tax credits for certain charitable organizations.

Senators voted 28-4 Thursday for legislation that would reimburse sponsors of sporting events with $5 for every ticket sold. Republican Sen. Eric Schmitt, of suburban St. Louis, says the incentive would help Missouri compete with other states for athletic tournaments.

The Senate also voted 32-0 Thursday to extend tax credits for donations to pregnancy resource centers, child nurseries and food pantries.

Both bills now go to the House.

The Senate had been paralyzed the last few years over new incentives, but the logjam broke as term limits forced out many tax credit opponents last election.