SB0751C-Committee Bill Summary (House)
HCS SB 751 -- ENTERTAINMENT INDUSTRY INCENTIVES
SPONSOR: Mathewson (Rizzo)
COMMITTEE ACTION: Voted "do pass" by the Committee on Commerce by a vote of 15 to 7.
This substitute authorizes an income tax credit for owners of bowling alleys in an amount equal to
10% of the purchase price of bowling-related machinery and equipment. Licensed gambling
boats, corporations owning more than 3 bowling alleys in the state, and those applying after
December 31, 2004, are not eligible for these tax credits.
The substitute also exempts the sale of the first copy of a customized film or video production
produced in Missouri, and any tangible personal property leased or purchased by a qualified film
production company from state and local sales and use taxes. A "qualified film production
company" is defined as any film production company with an expected in-state expenditure
budget over $300,000.
FISCAL NOTE: Partial Net Loss to All State Funds of $0 in FY 1999, $300,000 in FY 2000 and
FY 2001. Negative unknowns are not reflected in totals.
PROPONENTS: Supporters say that these credits will help the small business owner compete
with larger companies and corporations.
Testifying for the bill were Senator Mathewson; Representative Gratz; Olivette Lanes Bowling
Alley; and North Oaks Bowl.
OPPONENTS: There was no opposition voiced to the committee.
Debra Cheshier, Senior Legislative Analyst
Missouri House of