Mo. Lawmakers Approve Incentives for Sports Events
JEFFERSON CITY (AP) - State lawmakers are hoping that new incentives can help Missouri compete for big-time sports events.
The House gave final approval Wednesday to legislation authorizing up to $3 million annually in subsidies for cities, counties and nonprofit groups that host amateur sports events such as college basketball tournaments.
The bill is the first one of the 2013 session to make it to Gov. Jay Nixon.
Missouri has a long history of hosting sports events. Kansas City, for example, is hosting the Big 12 basketball tournament this week and games for the NCAA men's basketball tournament next week.
But supporters of the legislation say Missouri has been losing bids for future events to states offering incentives.
Missouri's bill would provide tax breaks equal to $5 for every ticket sold to the events.