Bill > HB3097

This bill establishes a tax credit for individuals and businesses in Missouri who contribute to specific youth police initiatives. A "youth police initiative" is defined as a program run by a non-profit organization in an urban area that aims to build trust and reduce stereotypes between at-risk youth and local police officers through shared activities and conversations. The "Department" refers to the Missouri Department of Public Safety, which will maintain a list of approved organizations. Taxpayers can receive a tax credit equal to 100% of their contribution to these eligible entities, which can be used to reduce their "state tax liability" (meaning their tax owed under specific chapters of Missouri law, excluding withholding taxes). These tax credits are not refundable but can be carried forward for five years, and they can also be transferred or sold. However, the total amount of tax credits authorized under this program is capped at $500,000 per year. The bill also includes provisions for the Department to create forms for claiming the credit and to promulgate rules to implement the program, with a sunset clause meaning the program will automatically end six years after its effective date unless reauthorized by the General Assembly.