Project Proposal

PURPOSE: The purpose of this rule is to explain the requirements for submitting and processing a project proposal. (1) The following will be included as part of the project proposal: (A) The Project Proposal Form, included herein; (B) Identification of a presumed economic impact or a proven economic impact; (C) The Memorandum of Understanding for the E-Verify Program; and (D) A draft copy of the support contract, if available. (2) The department reserves the right to make reasonable request for additional documentation in order to approve or deny a Project Proposal Form. (3) A project proposal must meet the following statutory criteria in order for the project to be reserved tax credits: (A) There must be cap space available. The department is limited to issuing only three (3) million dollars in tax credits in a given state fiscal year. Should the DED have reached the cap for a given year, any remaining applications will be placed on administrative hold until the earlier of— 1. A date upon which the support contract is awarded to another city, at which point the application will be denied; 2. 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 3. Until a date ninety (90) days following the end of the sporting event, at which point the project will be denied. (B) 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 project proposal. Denied projects shall have their reserved cap space allotted to other sporting events; (C) The applicant and site selection organizations must be valid and fit within the appropriate definitions provided under 4 CSR 85-9.011; (D) No site for a sporting event may have been chosen prior to December 1, 2012; (E) Completed project proposals will be reviewed in the order received; 1. Projects will be given a reservation of tax credits in the order those projects complete their review; 2. In the event two (2) or more project proposals are received on the same day, and there is insufficient cap space available, a lottery will be used to determine the order of receipt; 3. Completed project proposals received prior to April 11, 2014 will also be reviewed in the order received, but no reservation of cap space will be made prior to April 11, 2014; (F) 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; and (G) No project proposal will result in a reservation of tax credits after August 28, 2019. (4) A project proposal must also demonstrate a positive economic impact in order for the project to be reserved tax credit. (A) Demonstrate proof of a positive economic impact. Project proposals which include major regional, national, and international sports associations, amateur organizations, or major regional, national, and international organizations must provide data which will be analyzed by the department to find if the sporting event has a positive return of general revenue proceeds to the state in the same state fiscal year as the event. That analysis shall be performed by the department as a benefit cost analysis using data provided by the applicant in the project proposal; or (B) A presumption of a positive economic impact. The department will presume that the project generates a positive economic impact if the project proposal uses any of the following site selection organizations: 1. The National Collegiate Athletic Association (NCAA); 2. An NCAA member conference, university, or institution; 3. The National Association of Intercollegiate Athletics (NAIA); 4. The United States Olympic Committee (USOC); 5. A national governing body (NGB) or international federation of a sport recognized by the USOC; 6. The United States Golf Association (USGA); 7. The United States Tennis Association (USTA); or 8. The Amateur Softball Association of America (ASA). Community Services Community Services Community Services Community Services Community Services AUTHORITY: section 67.3000, RSMo Supp. 2013.* Emergency rule filed April 1, 2014, effective April 11, 2014, expired July 30, 2014. Original rule filed Feb. 7, 2014, effective July 30, 2014. *Original authority: 67.3000, RSMo 2013.