Missouri Code of State Regulations
Title 4 - Department of Economic Development
Division 85 - Division of Business and Community
Chapter 9 - Amateur Sporting Tax Credit Program
Section 4 CSR 85-9.035 - Support Contract
Universal Citation: 4 MO Code of State Regs 85-9.035
Current through Register Vol. 49, No. 6, March 15, 2024
PURPOSE: The purpose of this rule is to explain the requirements for a properly submitted support contract.
(1) The following will be included as part of the support contract submission:
(A) The
Support Contract Submission Form, included herein; and
(B) A final executed copy of the support
contract.
(2) The department reserves the right to make reasonable request for additional documentation in order to approve or deny a Support Contract Submission Form.
(3) A project proposal must meet the following statutory criteria in order for the project to be approved for tax credits:
(A) There must be cap space
available. If your project was given a reservation of tax credits at the
project proposal stage, you will already have cap space allocated to your
sporting event and department will review your support contract for statutory
compliance;
(B) You can submit a
project proposal along with a support contract submission;
(C) If the program cap has been reached, and
your support contract submission would have been otherwise approved, your
sporting event will be placed on administrative hold until the earlier of-
1. A date upon which there is cap space
available due to other denials in the fiscal year covered by the application,
at which point cap space will be reserved for the applicant; or
2. Until a date ninety (90) days following
the end of the sporting event, at which point the project will be
denied;
(D) A project
will be denied, even if it had been previously approved, when it becomes
apparent that the sporting event will not be held as indicated in the support
contract. Denied projects shall have their reserved cap space allotted to other
sporting events;
(E) The applicant
and site selection organizations must be valid and fit within the appropriate
definitions provided under 4 CSR 85-9.011;
(F) No site for a sporting event may have
been chosen prior to December 1, 2012, and no support contract will be approved
after August 28, 2019; and
(G) No
support contract will be certified unless the site selection organization has
chosen to use a location in Missouri during a competitive bidding process in
which at least one (1) competitive bid came from out of state.
Disclaimer: These regulations may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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