- Perfected -

SS/SB 724 - Current law requires that 50% of the revenues estimated by the Commissioner of Administration to be generated from the state income tax on nonresident athletes and entertainers be earmarked for the Missouri Arts Council Trust Fund. This act increases the percentage to 60% and extends the earmarking through the year 2008. The remaining 40% of estimated income tax revenue from that source is earmarked in equal amounts to the Missouri Humanities Council Trust Fund, the Missouri State Library Networking Fund, the Missouri Public Television Broadcasting Corporation Special Fund (including certain qualified public radio stations), and the Missouri Historic Preservation Revolving Fund.

The act also requests the state treasurer to convey the balances of the Arts Council Trust Fund and the Humanities Council Trust Fund to the Missouri Investment Trust; the funds are required to be reconveyed by the Investment Trust in 2009.

RUSS HEMBREE