Maddy summarySB 1388 allows certain nuclear facilities to be exempt from paying sales tax on purchases. This change directly benefits companies that build or operate nuclear power plants by reducing their costs. The bill became law after being signed by the governor in July 2024.
Maddy summaryThis bill modifies Missouri's tax credit program designed to encourage the state to host amateur, collegiate, or Olympic sporting events. It establishes specific definitions for eligible entities, such as nonprofit organizations and local committees, and outlines which costs qualify for the credit, including event preparation and bid fees while excluding facility construction. The legislation creates a process where the Department of Economic Development reviews and certifies contracts between event organizers and site selection groups before issuing tax credits based on verified expenses and ticket sales. Ultimately, the bill aims to provide financial incentives to taxpayers who donate funds to support the attraction of major sporting competitions to Missouri.
Modifies the Tourism Supplemental Revenue Fund
Creates provisions relating to certain firearms with smart technology
Modifies a provision authorizing a transient guest tax in certain cities
Creates new provisions relating to financial institutions
Repeals provisions relating to the offense of drug trafficking
Authorizes an income tax deduction for certain farmers
Establishes the Stop Socialism Act
Modifies provisions relating to the Missouri Working Family Tax Credit
