Missouri Approves Stadium Funding Bill for Chiefs, Royals Amid Tornado Recovery

Missouri lawmakers have approved a significant legislative package aimed at keeping the Kansas City Chiefs and Royals in the state by providing financial aid for stadium projects and supporting disaster recovery efforts in St. Louis after a devastating tornado. The Show-Me Sports Investment Act enables up to 50% of stadium construction costs to be repaid with sales and income taxes generated at the stadiums, requiring local public financing as well, while Kansas offers up to 70% funding through STAR bonds, prompting Missouri's urgent response. The package also includes $100 million in disaster relief for St. Louis and $25 million for emergency housing assistance, along with a $5,000 income tax credit to help offset insurance deductibles for storm victims. Supporters emphasize the importance of retaining the sports teams for economic benefits and job preservation, with the bill now awaiting Governor Mike Kehoe's signature, who has expressed support. The legislative moves come amid a tight deadline, as Kansas's offer to the teams expires at the end of June, and Missouri seeks to match or exceed that to prevent losing the teams. Lawmakers highlighted that the stadium funding relies on taxes generated at the events rather than general income taxes, aiming to balance public investment with economic development needs.