New bill would reimburse Missouri cities that host sporting events

KANSAS CITY, Mo. - A bill backed by Missouri Sen. Eric Schmitt would reimburse cities that host sporting events.

The tax credit program is based on ticket sales and is limited to $3 million a year.

CEO and President of the Kansas City Sports Commission, Kathy Nelson, believes the tax credit program would be a game changer.

"When we go to bid on amateur sporting events, especially at a collegiate level, it's very expensive. This now helps fund things for our future here as a city," said Nelson. "We would use that money to bid on bigger and better things -- including NCAA wrestling, NCAA volleyball or an Olympic trial. The opportunities are pretty much endless."

The tax credits wouldn't be issued until the event is over.

Nelson says $5 of every ticket would come back as tax credits. They would, in turn, be distributed to other companies in Kansas City.