Senate Advances Two Measures That Will Encourage Economic Development in the Show-Me State
JEFFERSON CITY - Today the Missouri Senate advanced two bills designed to promote job creation and to help encourage charitable donations. Senate Bill 10 and Senate Bill 20 will now be sent to the House for consideration.
Senate Leader Tom Dempsey, R-St. Charles, said after years of working on these bills, they are finally in a place that will allow Missouri to grow its economy and benefit communities across the state.
"Tax credit reform is a legislative priority for us this year," said Dempsey. "These are necessary bills, and a real testament of how this Senate can operate, by improving the state and making government more accountable. These incentives passed today will create jobs and give Missouri an economic advantage."
Senate Bill 10 will make Missouri more competitive when bidding against other states to host amateur sporting events. The measure would authorize the state to issue up to $3 million annually to organizers who bring events like the NCAA basketball tournaments to the Show-Me State.
Sponsor Sen. Eric Schmitt, R-Glendale, said now is the time for Missouri to make its move. Some other states currently offer similar tax incentives, causing Missouri to fall behind in the bidding war when it comes to hosting these events.
"This incentive is critical if our state is going to stay competitive in attracting these kinds of events to Missouri, and we must," said Schmitt. "Amateur sporting events are a huge economic boost to communities across the state. Visitors stay at local hotels, shop at local stores, and eat at local restaurants. That helps those businesses thrive, and it also raises much-needed revenue for our state without increasing taxes on hard-working Missourians."
Senate Bill 20, also given approval today by the Senate, will extend certain benevolent tax credits to people who make donations to pregnancy centers, child crisis nurseries and food pantries.
Sponsor Sen. Bob Dixon, R-Springfield, said it's common sense to renew these credits.
"With its swift action, the Senate has demonstrated its strong support for this ounce of prevention," Dixon said. "Allowing these tax credits to expire does not save taxpayers one dime in the long run. Encouraging individual donors to personally direct their charitable dollars to local programs that do the most good is fiscally responsible, easing future burdens on the state budget and avoiding bureaucracy and the political process."
Majority Floor Leader Ron Richard, R-Joplin, said he's proud of the work the Senate did this week. He said with good communication and cooperation, the Senate was able to pass two bills that have hit major road blocks in the last couple of years.
"We had good dialogue this week between both parties. That dialogue reminded me of the conversations senators had on the floor when I would visit the Capitol as a kid. These were productive discussions that will benefit Missourians and create jobs."
Both measures now move to the House.