COMMITTEE
HCS HB 1357 -- SPORTS FACILITIES
SPONSOR: Rizzo (Bonner)
COMMITTEE ACTION: Voted "do pass" by the Committee on Commerce
by a vote of 13 to 7.
Subject to appropriation and in addition to existing
appropriations, this substitute requires that the state portion
of all sales tax revenue generated within the Harry S Truman
Sports Complex be placed in the Jackson County Convention and
Sports Complex Fund and be used solely for maintaining and
refurbishing the complex.
In addition, this substitute establishes the St. Louis Area
Sports Facilities Authority in the City of St. Louis, St. Louis
County, and in each participating county (any adjoining county
which enters into an agreement with the authority). In the
provisions related to the creation of the St. Louis Sports
Facilities Authority the substitute:
(1) Prohibits the sports facilities from being used for horse
or dog racing;
(2) Restricts the location of any sports facility constructed
after August 28, 2000, to the City of St. Louis;
(3) Outlines the appointment process for the 8 to 11
commissioners who are to make up the authority, defining their
qualifications for appointment and the terms of offices;
(4) Outlines the powers given to the sports authority,
including the power to own, construct, operate, or maintain
sports facilities; the power to charge and collect fees and
rents for use of the facilities and to deposit any funds
received in a savings or checking account; the power to receive
any rentals, contributions, or moneys appropriated by
municipalities, counties, the state, or federal government; the
power to invest any of the authority's funds; the power to
borrow money for the acquisition, planning, construction,
equipping, operation, maintenance, and repair of any facility,
and for any other proper corporate purpose; the power to issue
negotiable notes or bonds; and the power to perform all other
functions and powers as conferred by the General Assembly or by
the Congress;
(5) Specifies that any bonds issued by the authority be issued
pursuant to a resolution adopted by the commissioners; and sets
a maximum maturation period of 50 years for any bonds issued;
(6) Prohibits the authority from pledging direct appropriations
of tax revenues for the payment of any bonds issued;
(7) Exempts all interest on and income from bonds issued by the
authority from state income taxes;
(8) Declares that the authority is performing a public function
and the bonds issued by the authority are issued for an
essential public and governmental purpose;
(9) Specifies that the state is not liable for any debt
incurred by the authority;
(10) Requires the authority to grant at least 15% of its
contracts, employment opportunities, and professional services
to members of racial minority groups, as defined in statute;
(11) Requires the Governor, in the event the authority has
insufficient money or reserve funds for the payment of the
principal and interest on its bonds, to submit the amount of the
shortage to the General Assembly;
(12) Exempts the income of the authority and all of its
properties from all taxation in the state of Missouri;
(13) Creates a Sports Facilities Fund, to be administered by
the authority for the operation and maintenance of any
facilities, consisting of any rents, gifts, and any types of
deposits;
(14) Authorizes the state to enter into agreements with the
city, county, or participating county; to agree to pay rents or
other fees or charges; and to mortgage, pledge, assign, convey,
or grant security in any interest in the facility;
(15) Requires that the state sales taxes on sales generated
inside of or on the grounds of the facilities or for tickets to
any event in the facility be placed in the Sports Facilities
Fund, provided that if the facility was constructed prior to
August 28, 2000, these revenues may only be used for the
replacement of a sports facility in the City of St. Louis; and
(16) Requires the authority to submit an annual report on the
condition of the authority to the local governing bodies and to
the General Assembly and to employ an independent firm to
conduct a biennial audit of the authority's accounts and
transactions.
FISCAL NOTE: Estimated Net Loss to General Revenue Fund of
$3,554,695 in FY 2001, $4,881,782 in FY 2002, and $5,028,235 in
FY 2003. Estimated Net Loss to School District Trust Fund of
$1,184,898 in FY 2001, $1,577,261 in FY 2002, and $1,676,078 in
FY 2003.
PROPONENTS: Supporters say that without the assured funding
stream provided for by the bill's provisions, it is unlikely
that facility maintenance and repairs will be able to be done.
Testifying for the bill were Representative Bonner; and Bill
Waris.
OPPONENTS: There was no opposition voiced to the committee.
Debra Cheshier, Senior Legislative Analyst
Missouri House of Representatives' Home Page