Senate to vote on legislation aimed to attract amateur sports events

See Related Stories

Intro:	Missouri lawmakers have given preliminary approval to a plan that could bring the state one step closer to hosting an NCAA tournament.
RunTime:	0:43
OutCue:	SOC

Wrap: The Senate endorsed legislation that would give amateur sporting events like the NCAA tournament a five dollar per ticket sold incentive to host events in the state.

Republican St. Louis County Senator Eric Schmitt sponsors the bill with a $3 million cap on how much the state can offer to all events each year.

Despite opposition from senators who argued the cap should be lower, Schmitt says it would be more rewarding for the state to over prepare then under prepare.

Actuality:	SCHMIT.WAV
Run Time:	00:09
Description: "You should be arguing for a higher cap here theoretically because that would mean more economic activity in the state and a greater return to the businesses in the state that are effected."

The plan needs one more vote in the Senate before moving to the House.

Reporting from the state capitol, I'm Alex Mallin.

Intro:	Lawmakers have endorsed a bill that could turn the heads of amateur sports officials and attract more NCAA tournaments to the state.
RunTime:	0:44
OutCue:	SOC

Wrap: The Senate has given preliminary approval to a bill that would reward amateur sports officials that choose Missouri to host sporting events.

The legislation would put $5 for each ticket to an event back in the pockets of the organizations. The credits would be capped at $3 million per year.

The bill did draw some opposition from fiscal conservatives in the Senate. Republican Senator Brad Lager voted for the cap to be lower, but says debate on the issue is constructive.

Actuality:	SCHMIT2.WAV
Run Time:	00:14
Description: "Even this credit here, and let's be honest with ourselves; it's not going to make or break the bank. The reality is though that we as an institution have to begin this process of having meaningful discussion about having reasonable, fiscally responsible caps."

Reporting from the state capitol, I'm Alex Mallin.

Intro:	Gov. Jay Nixon says he wants the state to cut back on tax credits, but the State Senate has moved to add another to the list.
RunTime:	0:44
OutCue:	SOC

Wrap: The bill would create a tax credit that aims to attract amateur sporting events, such as the NCAA.

It would put $5 for every ticket sold back in the pockets of the sports organizers, with a $3 million annual cap for the state.

St. Louis County Republican Eric Schmitt says the benefits to communities and small businesses would outweigh any costs that could accompany the bill.

Actuality:	SCHMIT3.WAV
Run Time:	00:15
Description: "The natural protection here is the $5 per ticket credit. Because the assumption is that somebody is spending a little over $100 when they go to one of these events. We discussed earlier: That's a hotel room, forget about the souvenirs, the food and anything else that people will buy."

The plan needs one more vote in the Senate before moving to the House.

Reporting from the state capitol, I'm Alex Mallin.