Kehoe calls for special session on stadium funding, capital projects
Matthew Sanders
JEFFERSON CITY, Mo. (KMIZ)
Gov. Mike Kehoe unveiled plans for a special session to take up legislation to incentivize sports teams to stay in Missouri and fund capital projects like a University of Missouri nuclear reactor during a Capitol news conference Tuesday.
Kehoe will bring lawmakers together next month to discuss financial incentives for stadium projects for the Kansas City Chiefs and Royals and funding for capital projects including the NextGen MU Research Reactor.
The Show Me Sports Investment Act is aimed at keeping the two sports teams from moving to Kansas after lawmakers failed to pass a plan during their regular, annual session. The proposal would give the state’s professional sports teams access to state funding for stadium projects through new bonds, but only if certain requirements are met.
The project must cost at least $500 million and involve stadiums with more than 30,000 seats. The state could cover up to 50% of the total cost and eligible teams could also access a tax credit worth up to 10% of their investment.
“The Kansas City Chiefs and Royals are Missouri’s teams and they drive billions of dollars in economic activity through tourism, job creation and small business, including hotels, restaurants and retail,” Kehoe said.
Kehoe emphasized the importance of keeping Missouri’s sports teams in the state, citing their role in economic development.
“This just isn’t about football and baseball, as I said before, this is about economic development. These two organizations that have businesses, employees and a ripple effect on our state’s economy that we do not want to move to any other state,” Kehoe said.
Arrowhead Stadium generates $28.8 million in state tax revenue, sustains more than 4,500 jobs and promotes more than $572 million in economic activity in Jackson County alone, Kehoe said. A new stadium for the Royals would support 8,400 jobs and generate $1.2 billion in annual economic output, Kehoe said.
Budget appropriations are also a priority during the special session, including funding for the NextGen MURR project — a proposal that failed to pass during the regular legislative session. The original allocation in House Bill 19 included $50 million for the University of Missouri Research Reactor, but Kehoe is now asking for half of that amount.
“MURR has developed life-saving medicines for patients around the world and Missouri is proud to be home to this incredible nuclear resource,” Kehoe said.
Kehoe touched on how many lives the nuclear reactor saves each day by providing radioisotopes to people around the world. According to MURR’S website, 450,000 patients were treated lat year with radioisotopes produced at MURR.
Other budget appropriations included in House Bill 19 are funding for a mental health facility, a new juvenile center in Cole County and funding for a conference center in Downtown Jefferson City.
Other priorities to be addressed in the special session include assistance for families affected by recent severe storms across the state. Kehoe wants lawmakers to approve a tax deduction for insurance deductibles paid by homeowners repairing damage from this spring’s storms.
The assistance would be capped at $5,000 per household per calendar year.
Kehoe said he will push for changes to the Missouri Housing Trust Fund to make the state’s disaster response stronger. The proposal includes expanding eligibility and eliminating administrative burdens and costs to speed up aid distribution.
It would also lower eligibility standards for emergency housing assistance and grants for construction and home repair.
Over the past three months, severe storms have caused damage across several Missouri counties, including Phelps, where an EF-2 tornado destroyed dozens of homes and businesses in Rolla. Earlier this month, seven people were killed when tornadoes tore through the St. Louis area.
A tornado also destroyed the City of Columbia’s recycling facility.
Kehoe said during the press conference Tuesday that the structural damage in St.Louis is worse than the Joplin tornado.
House lawmakers have been told to be ready for a session that will start at noon June 2.