Bill > SB1608

This bill authorizes a tax credit for individuals, partnerships, or corporations (taxpayers) who contribute to certain youth police initiatives, which are programs designed to foster trust and understanding between at-risk youth and local police officers in urban areas. The credit will be equal to one hundred percent of the contribution made to an "eligible entity," defined as a not-for-profit organization operating such a program in an urban area. This tax credit applies to state tax liability, excluding withholding taxes, and can be carried forward for five years if not fully used, and can also be transferred, sold, or assigned. However, the total amount of these tax credits is capped at $500,000 per year. The Department of Public Safety will maintain and publish a list of eligible entities, and taxpayers will need to provide documentation of their contributions to claim the credit. The program is set to automatically sunset six years after its effective date unless reauthorized by the General Assembly.

Labor and Employment

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=2589609