Friday, 29 March 2013 13:24
Governor Nixon signs tax incentives to lure sporting events
JEFFERSON CITY, Mo. (AP) - Gov. Jay Nixon has signed legislation authorizing tax incentives for big-time sports events and some charitable donations.
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Nixon highlighted his support for the charitable tax breaks by traveling to a food bank in Cape Girardeau on Friday. He signed the sports incentives without comment.
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The sports legislation authorizes up to $3 million of tax credits annually for organizations that host amateur sporting events such as NCAA tournaments or Olympic trials. Lawmakers hope the cash will help Missouri compete with other states.
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The other bill reinstates tax credits for donations to food pantries, child advocacy centers and pregnancy resource centers that had expired in recent years. Nixon says the tax credits can leverage private donations to help "our most vulnerable citizens."
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Both bills were passed by the Legislature on March 13.
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