Mo. Code Regs. tit. 4 § 85-9.035

Current through Register Vol. 49, No. 21, November 1, 2024.

Section 4 CSR 85-9.035 - Support Contract

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.

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4 CSR 85-9.035

AUTHORITY: section 67.3000, RSMo Supp. 2013. Original rule filed Feb. 7, 2014, effective July 31, 2014.