Missouri Governor Mike Kehoe signs three bills into law Saturday after a special session of the Missouri Legislature.
One of the pieces of Legislation, Senate Bill 3, ensures Missouri remains competitive in retaining major sports teams according to a release from the governor's office. One provision is the Show-Me Sports Investment Act which authorizes the state to partner with professional sports teams to help finance stadium construction through bond payments and one-time tax credits with built-in protections for taxpayers. This provision is largely in response to recent announcements from both the Kansas City Royals and Chiefs about possible relocations when their current leases at the Truman Sports Complex expire in Jackson County expire in 2031.
Voters in Jackson County turned down a Sales Tax Extension on the ballot in 2024 that would have helped both franchises with stadium renovations and possible relocation in Kansas City. Since then, legislation has been passed in Kansas that could aid the franchises should they decide to relocate across the state line.
Another piece of the legislation involving sports updates two different tax credit programs related to amateur sporting events in Missouri, aimed at making them easier to use and more effective at attracting and supporting sports events while making a positive impact on the state’s economy.
Additional legislation passed in the special session and signed by the governor according to the release relates to relief efforts due to severe storms that have impacted the state as well as the potential for property taxes to be frozen or capped in some parts of the state.
The complete recap of the legislation signed by Governor Kehoe can be found on the Governor's Website.
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