FOR IMMEDIATE RELEASE
Wednesday, February 27, 2008
Contact: Ryan Hobart, (573) 526-4734
Contact: Mindy Mazur, (573) 522-9756

Initiative Petitions Pertaining to Corporate Tax Credits and Gambling Loss Limits Approved for Circulation for 2008 Ballot

Jefferson City, Missouri — Secretary of State Robin Carnahan announced today that two new initiative petitions met state standards for circulation. The first petition would amend the Missouri Constitution pertaining to corporate tax credits, and the second petition would revise current laws pertaining to casino and gambling loss limits in the state of Missouri.

The ballot title for the petition regarding corporate tax credits reads:

Shall the Missouri Constitution be amended to:

• Limit the authority of the General Assembly to issue new corporate tax credits or deductions in a fiscal year to no more than the amount currently allowed for tax or fee increases without voter approval under the Missouri Constitution; and
• Require voter approval for any new corporate tax credits or deductions that exceed that amount?

The cost or savings of this proposal to state and local governmental entities is unknown since voter approval is required for corporate tax credits or deductions that exceed the annual limit defined in Article X, Section 18(e) of the Missouri Constitution.  For fiscal year 2008, that limit is an estimated $86 million

The corporate tax cut petition was submitted by Robin Acree, 304 E. Breckenridge, Mexico, MO  65265, 573-581-9595.

Before any constitutional changes can be brought before Missouri voters in the November 2008 election, signatures must be obtained from registered voters equal to eight (8) percent of the total votes cast in the 2004 governor's election from six of the state's nine congressional districts. Depending on the combination of districts, the number of signatures required ranges between approximately 140,000 and 150,000 valid signatures for each petition.

The ballot title for the petition regarding casino and gambling loss limits reads:

Shall Missouri law be amended to: 

• Repeal the current individual maximum loss limit for gambling;
• Prohibit any future loss limits;
• Require identification to enter the gambling area only if necessary to establish that an individual is at least 21 years old;
• Restrict the number of casinos to those already built or being built;
• Increase the casino gambling tax from 20% to 21%;
• Create a new specific education fund from gambling tax proceeds generated as a result of this measure called the "Schools First Elementary and Secondary Education Improvement Fund"; and
• Require annual audits of this new fund?

State governmental entities will receive an estimated $105.1 to $130.0 million annually for elementary and secondary education, and $5.0 to $7.0 million annually for higher education, early childhood development, veterans, and other programs.  Local governmental entities receiving gambling boat tax and fee revenues will receive an estimated $18.1 to $19.0 million annually.

The casino and gambling loss limit petition was submitted by Troy A. Stremming, 3200 North Ameristar Dr., Kansas City, MO  64161, 816-414-7000.

Before any statutory changes can be brought before Missouri voters in the November 2008 election, signatures must be obtained from registered voters equal to five (5) percent of the total votes cast in the 2004 governor's election from six of the state's nine congressional districts. Depending on the combination of districts, the number of signatures required ranges between approximately 86,000 and 95,000 valid signatures for each petition.

Signatures on behalf of all initiative petitions for the 2008 ballot are due to the Secretary of State's office by no later than 5 p.m. on May 4, 2008.

The full text of all the proposed ballot measures will be available on the Secretary of State's website at www.sos.mo.gov/elections/2008petitions/08init_pet.asp.

Before circulating petitions, state law requires that groups must first have the form of their petition approved by the Secretary of State and Attorney General.  The Secretary of State then prepares a summary statement of no more than 100 words and the State Auditor prepares a fiscal impact statement, both of which are subject to the approval of the Attorney General. When both statements are approved, they become the official ballot title.

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