Senate Majority Leader Mike Kehoe, a Jefferson City Republican who is sponsoring the bill on the Senate side, said the private funding makes the new arts center a smart financial move for the state, which would own the facility.

“So you’re going to be able to put an asset on your balance sheet for half the price,” Kehoe said.

But the bill could face opposition from Senate Republicans who think the state should not take on additional debt during a budget shortfall.

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