Nixon signs tax incentive bill
Gov. Jay Nixon signed a bill today that authorizes tax incentives for large sporting events and for some charitable donations.
The new law 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. GOP Senator Bob Dixon of Springfield sponsored the bill.
“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,” he said.
Governor Nixon has also signed legislation creating tax incentives designed to draw amateur sporting events to Missouri. The sports legislation authorizes up to $3 million in tax credits each year for organizations that host amateur sporting events such as NCAAA tournaments or Olympic trials. Lawmakers hope the incentives will help Missouri compete with other states in hosting these events.
Due to an emergency clause, the law takes effect immediately.