620.467. Division of tourism supplemental revenue fund created--use of fund--lapse to general revenue prohibited--funding--effective and expiration dates.
Division of tourism supplemental revenue fund created--use offund--lapse to general revenue prohibited--funding--effective andexpiration dates.
620.467. 1. The state treasurer shall annually deposit an amountprescribed in this section out of the general revenue fund pursuant tosection 144.700, RSMo, in a fund hereby created in the state treasury, tobe known as the "Division of Tourism Supplemental Revenue Fund". The statetreasurer shall administer the fund, and the moneys in such fund, exceptthe appropriate percentage of any refund made of taxes collected under theprovisions of chapter 144, RSMo, shall be used solely by the division oftourism of the department of economic development to carry out the dutiesand functions of the division as prescribed by law. Moneys deposited inthe division of tourism supplemental revenue fund shall be in addition to abudget base in each fiscal year. For fiscal year 1994, such budget baseshall be six million two hundred thousand dollars, and in each succeedingfiscal year the budget base shall be the prior fiscal year's generalrevenue base plus any additional appropriations made to the division oftourism, including one hundred percent of the prior fiscal year's depositsmade to the division of tourism supplemental revenue fund pursuant to thissection. The general revenue base shall decrease by ten percent in eachfiscal year following fiscal year 1994. Notwithstanding the provisions ofsection 33.080, RSMo, to the contrary, moneys in the division of tourismsupplemental revenue fund at the end of any biennium shall not be depositedto the credit of the general revenue fund.
2. In fiscal years 1995 to 2015, a portion of general revenuedetermined pursuant to this subsection shall be deposited to the credit ofthe division of tourism supplemental revenue fund pursuant to subsection 1of this section. The director of revenue shall determine the amountdeposited to the credit of the division of tourism supplemental revenuefund in each fiscal year by computing the previous year's totalappropriation into the division of tourism supplemental revenue fund andadding to such appropriation amount the total amount derived from theretail sale of tourist-oriented goods and services collected pursuant tothe following sales taxes: state sales taxes; sales taxes collectedpursuant to sections 144.010 to 144.430, RSMo, that are designated as localtax revenue to be deposited in the school district trust fund pursuant tosection 144.701, RSMo; sales taxes collected pursuant to section 43(a) ofarticle IV of the Missouri Constitution; and sales taxes collected pursuantto section 47(a) of article IV of the Missouri Constitution. If theincrease in such sales taxes derived from the retail sale oftourist-oriented goods and services in the fiscal year three years prior tothe fiscal year in which each deposit shall be made is at least threepercent over such sales taxes derived from the retail sale oftourist-oriented goods and services generated in the fiscal year four yearsprior to the fiscal year in which each deposit shall be made, an amountequal to one-half of such sales taxes generated above a three percentincrease shall be calculated by the director of revenue and the amountcalculated shall be deposited by the state treasurer to the credit of thedivision of tourism supplemental revenue fund.
3. Total deposits in the supplemental revenue fund in any fiscal yearpursuant to subsections 1 and 2 of this section shall not exceed the amountdeposited into the division of tourism supplemental revenue fund in thefiscal year immediately preceding the current fiscal year by more thanthree million dollars.
4. As used in this section, "sales of tourism-oriented goods andservices" are those sales by businesses registered with the department ofrevenue under the following SIC Codes:
(1) SIC Code 5811;
(2) SIC Code 5812;
(3) SIC Code 5813;
(4) SIC Code 7010;
(5) SIC Code 7020;
(6) SIC Code 7030;
(7) SIC Code 7033;
(8) SIC Code 7041;
(9) SIC Code 7920;
(10) SIC Code 7940;
(11) SIC Code 7990;
(12) SIC Code 7991;
(13) SIC Code 7992;
(14) SIC Code 7996;
(15) SIC Code 7998;
(16) SIC Code 7999; and
(17) SIC Code 8420.
5. Prior to each appropriation from the division of tourismsupplemental revenue fund, the division of tourism shall present to thecommittee on tourism, recreational and cultural affairs of the house ofrepresentatives and to the transportation and tourism committee of thesenate, or their successors, a promotional marketing strategy including,but not limited to, targeted markets, duration of market plans, ensuingmarket strategies, and the actual and estimated investment return, if any,resulting therefrom.
6. This section shall become effective July 1, 1994. This sectionshall expire June 30, 2015.
(L. 1993 H.B. 188 §§ 1, A, A.L. 1994 S.B. 534, A.L. 1998 H.B. 1620, A.L. 2002 H.B. 1041, A.L. 2007 H.B. 205 merged with S.B. 376)Effective 5-03-07 (S.B. 376)
8-28-07 (H.B. 205)
Expires 6-30-15