SS/SCS/HCS/HB 1388 - This act modifies provisions relating to sports contests.AMATEUR SPORTING EVENT TAX CREDIT:
The definition of "eligible costs" is modified to include bid fees and financial guarantees pledged to a site selection organization. The definition of "site selection organization" is also modified to include several additional organizations, as described in the act.
Currently, an applicant is required to submit eligible costs and documentation to the Department of Economic Development no more than thirty days following the conclusion of the sporting event. This act changes such deadline to ninety days. Documented eligible costs paid may be paid either by the applicant or an entity co-hosting the event with the applicant.
This act requires, rather than allows, the Department of Economic Development to determine the total number of tickets sold to the event, or, if such event is participant-based with no admission tickets, the total number of paid participant registrations.
This act also requires, rather than allows, the Department to issue a tax credit pursuant to the provisions of the program. For the purposes of calculating the amount of the tax credit, an applicant shall be allowed $10 for every paid participant registration if the event is participant-based with no paid admission tickets.
The aggregate amount of tax credits issued under this program is limited to $3 million per fiscal year. This act implements a fiscal year cap of $2.7M for all events located in Jackson or St. Louis Counties or St. Louis City.
Collegiate football bowls and other neutral-site games with at least one out-of-state team shall be exempt from the competitive bid requirements of the program.
Currently the Department is prohibited from accepting applications for this tax credit program after August 28, 2019. This act extends the program until August 28, 2025. (Section 67.3000)
This act also extends the sunset for a tax credit for contributions to a local organizing committee or certified sponsor from August 28, 2019, to August 28, 2025. (Section 67.3005)
These provisions are substantially similar to HCS/HB 1438 (2018), to provisions contained in the truly agreed CCS/HCS/SB 773 (2018), and HCS/SCS/SBs 632 & 675 (2018).
FANTASY SPORTS CONTEST OPERATORS:
The act creates an exception to the audit requirement for fantasy sports contest operators with a net revenue of $250,000 or less in a calendar year. However, the Missouri Gaming Commission can perform an audit on such operators at its own expense. If an audit uncovers evidence of a violation the operator shall pay the Commission for the cost of the audit. (Section 313.940)
These provisions are identical to provisions contained in SB 886 (2018) and HB 1390 (2018).
MIXED MARTIAL ARTS:
This act adds amateur kickboxing, professional mixed martial arts, and amateur mixed martial arts to the list of contests the Division of Professional Registration within the Department of Insurance, Financial Institutes and Professional Registration has the authority to regulate. The act requires that all contestants, other than amateur kickboxing contestants, be at least 18 years old and that all promoters provide a surety bond or irrevocable letter of credit before receiving a license. The act also prohibits and restricts the use of certain strikes in amateur mixed martial arts.
This act repeals the requirement that announcers and managers of professional boxing, sparring, professional wrestling, professional kickboxing, and professional full-contact karate be licensed by the Division.
The act repeals provisions allowing the Division to assess a tax of 5% on any individual or entity holding a promoter's license for sales relating to certain sports contests. The act also repeals provisions requiring cable companies to report their pay-per-view sales. (Sections 317.006-317.019)
These provisions are similar to HB 1156 (2017).
JAMIE ANDREWS