MO HB385

Establishes a tax credit program for applicants (certified sports sponsors, municipalities, and local organizing committees) that attract amateur and Olympic sporting events to Missouri.

Allows applicants to receive a refundable tax credit equal to the lesser of 100% of eligible costs or $5 multiplied by average per-session admission tickets sold and registered participants multiplied by event days.

Permits taxpayers making eligible donations (cash, stocks, bonds, real estate) to certified sponsors or local organizing committees to claim a tax credit equal to 50% of the donation amount against state income taxes.

Caps total tax credits issued at $10 million per fiscal year, with a maximum of $8 million available for sporting events in cities or counties with populations exceeding 300,000.

Program automatically sunsets six years after August 28, 2013 (August 28, 2019), unless reauthorized by the legislature, with support contracts only certifiable before the sunset date.