Missouri Senate advances amateur sports and benevolent tax credit
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Missouri Senate advances amateur sports and benevolent tax credit

Date: January 31, 2013
By: Luke Lyddon
State Capitol Bureau
Links: SB 10, SB 20

Intro: 
Gov. Jay Nixon has said he wants lawmakers to cut back on tax credits, but the Missouri Senate has passed its first bill expanding tax credits.
RunTime:  0:40
OutCue:  SOC

Wrap: The Missouri Senate voted 32-0 to continue five tax credits meant to help the needy.

And they also approved a new tax credit for amateur sporting events. That means tournaments like the Final Four and Frozen four might come to Missouri more often because they will pay less in taxes.

But not all members of the Senate were enthusiastic about the idea. Republican Senator Ed Emery said the amateur sport tax credit may not benefit the state.

Actuality:  EMERYNEW.WAV
Run Time:  00:12
Description: "I think it's a whole lot more important what direction you're going, than it is where you are. This is a tax credit that was passed because of where we are. I think it was bad in terms of where we we're going."
 
 
Reporting from the State Capitol, I'm Luke Lyddon.

 

Intro: 
It took four years, but amateur sports tournaments could have a smaller tax bill if they bring their games to Missouri.
RunTime:  0:35
OutCue:  SOC

Wrap: The Missouri Senate has passed the amateur sports tax credit. That measure would give sport tournaments five dollar tax credit for every ticket they sell up to about three million dollars. 

Republican Senator Eric Schmitt, of St. Louis County, says money spent at these new sporting events in Missouri could help the states economy.

Actuality:  SCHMITTE.WAV
Run Time:  00:08
Description: "For the state, it's a great thing. Because if one region benefits the state benefits, but this is broader than just the events that can be held in the major metropolitan areas."
 
Schmitt says the businesses will be able to hire more people and make more money. 

Reporting from the State Capitol, I'm Luke Lyddon.

Intro: 
thanks to the Missouri Senate, amateur sports tournaments are one step closer to a smaller tax bill.
RunTime:  0:37
OutCue:  SOC

Wrap: While the amateur sports tax credit was praised from both sides of the aisle, there were a few critics.

Those critics like Democratic Senator Maria Chappelle-Nadal want to know how Senate leaders can say they want tax credit reform-- and then pass their first bill of the year expanding tax credits.

Actuality:  MCHAP.WAV
Run Time:  00:06
Description: "It is not focusing on the overall needs of our state."
 
Chappelle-Nadal says when considering tax policy it should be a comprehensive approach.
 
She said any smart policy would be comprehensive, fair and balanced with a give and take approach.
 
Reporting from the State Capitol, I'm Luke Lyddon.