Latest news with #stadiumfunding
Yahoo
21 hours ago
- Business
- Yahoo
Looking ahead to Missouri special session, Show Me Sports Investment Act
KANSAS CITY, Mo. — The Missouri General Assembly's special session reconvenes Monday, and it's the House side of the rotunda's turn in Jefferson City. The state Senate passed a trio of bills last week, one providing a plan to fund up to half of stadium projects for the Chiefs or Royals or Cardinals in St. Louis. The Missouri State House will consider the Show Me Sports Investment Act. The stadium funding bill sets the framework for the Royals and the Chiefs to pay back some of the costs for new and renovated venues. Construction bonds would be paid back using tax money generated at the stadiums and would cover up to 50% of the cost to build it. The teams would have to qualify to have access to that money. The stadiums would need to be built for football or baseball, have more than 30,000 seats, and cost at least half a billion dollars. On Sunday, Rudi Keller, the deputy editor of the Missouri Independent, discussed what could happen as the special session continues this week. Kansas City superheroes assemble behind local child battling cancer 'A member of the House budget Committee who will consider the spending bill on Tuesday said there is an assumption the House will pass this, and that's correct. I also talked to the Chair of the House Budget Committee earlier today, and it turns out he's not going to be demanding anything new. So as long as there aren't serious demands that endanger the bill from the House, much as the way demands from Senators resulted in a change to the call, I'm anticipating this will go relatively smoothly this week,' Keller said on 4 The People. The stadium funding bill does not have the words 'Royals' or 'Chiefs' in it, but a big reason for the calling of this special session was to find a way to keep both teams in the state and counter the plans of Kansas lawmakers. Nearly a year ago, the Kansas legislature approved a bill to utilize STAR bonds to cover stadium construction costs. The deadline for that bill is coming up at the end of June. 'If Kansas believes that we could really be in the conversation, you could see some limited extension,' said Kansas Senate President Ty Masterson. 'The way the law is written, it could be extended for up to a year. I don't see that happening.' You can watch the full conversation with Masterson and Keller here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Washington Post
13-05-2025
- Business
- Washington Post
Missouri House backs new stadium incentives to try to keep the Chiefs and Royals
The Missouri House on Tuesday endorsed a new framework of financial incentives to try to keep the Kansas City Chiefs and Royals from possibly leaving the state by helping fund new or renovated stadiums for them. The legislation, which has the backing of Republican Gov. Mike Kehoe, would authorize the state to issue bonds valued at up to half the cost of the stadium projects and allow tax credits of up to $50 million. But the plan doesn't list a total cost or a location for the stadiums, leaving those details to be negotiated later.
