Summary of the Introduced Bill

HB 1126 -- Nonresident Entertainer and Professional Athlete
Income Tax Distribution

Sponsor:  Walton

Currently, the Missouri Arts Council Trust Fund receives, in
addition to its annual budget, 60% of the annual estimate of
taxes generated from the nonresident entertainer and professional
athletic team income tax.  However, no more than $10 million can
be appropriated to the council in any fiscal year.  This bill
reduces the amount the trust fund receives to 50% of the
estimated revenues received from the tax and removes the
council's appropriation cap.

For fiscal years 2008 to 2015, the bill requires that the greater
of $2 million or 10% of the annual estimate of revenue generated
by the tax be annually allocated to the Missouri Juneteenth
Heritage and Jazz Festival and Memorial.  For any fiscal year in
which the minimum allocation is less than $2 million, the council
must distribute additional funds to the festival and memorial so
that the $2 million minimum allocation is met.

Copyright (c) Missouri House of Representatives

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:21 am