HB 463 -- Tourism Supplemental Revenue Fund

Co-Sponsors:  Overschmidt, Lawson, Myers, Berkstresser, Kelly
(27)

Currently and through Fiscal Year 2010, a portion of the
increase in state sales taxes collected from the retail sale of
tourist-oriented goods and services will be used to determine
the amount of increase to the transfer to the Tourism
Supplemental Revenue Fund.  The amount to be transferred is
determined by computing the state sales taxes derived from
retail sale of tourist-oriented goods and services from the
third year prior to the fourth year prior to the fiscal year the
transfer is made.  If the increase in the sales taxes is at
least 3% more than the fourth prior year, then half of the
amount above a 3% increase will be used to determine the amount
of increase in the transfer to the fund.  Transfers have a $3
million cap in each year.

This bill decreases the 3% to 2% and indexes the $3 million
maximum amount of increase to the growth of tourist-oriented
sales and services.

Sales of tourism-oriented goods and services are those sales by
businesses registered with the Department of Revenue under
certain SIC Codes or their successors.

The bill removes one inactive SIC Code and replaces it with a
new SIC Code.

Missouri House of Representatives
Last Updated September 13, 2001 at 2:02 pm