Bill > HB611

This bill creates a new tax credit program for businesses that provide qualified career and technical instructors to certain educational institutions in Missouri. The tax credit allows eligible businesses to receive up to $5,000 per instructor, with a maximum of five credits per tax year, for allowing full-time employees to teach at qualified institutions such as community colleges, vocational schools, and facilities providing educational services to children in juvenile custody. To qualify, instructors must meet Higher Learning Commission faculty credential guidelines and provide instruction during regular business hours. The total tax credits available statewide are capped at $500,000 per fiscal year, and credits will be awarded on a first-come, first-served basis. The tax credits are nonrefundable, cannot be transferred, and cannot be carried forward to subsequent tax years. Businesses must apply to the Department of Revenue, providing detailed information about the instructor, institution, and compensation. The program is set to begin for tax years starting January 1, 2025, and the departments of revenue, higher education, and elementary and secondary education will collaborate to establish guidelines and regulations for implementing the program.

https://house.mo.gov/Bill.aspx?bill=HB611&year=2025&code=R