MO SB840

Establishes a refundable tax credit program administered by the Department of Economic Development to incentivize hosting NCAA championships, bowl games, Olympic events, and other major amateur sporting competitions in Missouri.

Allows applicants (certified sports commissions, convention and visitors bureaus, municipalities, counties, or local organizing committees) to submit game support contracts to the department for certification within 60 days.

Issues refundable tax credits equal to the lesser of 100% of eligible costs incurred or 50% of incremental sales tax revenue generated within the market area directly attributable to the event, capped at $10 million per fiscal year.

Eligible costs include event conduct expenses, preparation costs, and pledged obligations to the site selection organization, but exclude facility construction or acquisition costs (though facility retrofitting is permitted).

Tax credits are claimable against state income taxes, transferable by notarized endorsement, and must be claimed within one year; certification limited to games where site selection has not occurred as of August 28, 2010.