SPONSOR: Allen
This bill establishes a tax credit program for youth police initiatives.
Beginning January 1, 2027, a taxpayer will be able to claim a tax credit against their state tax liability equal to 100% of any eligible contribution made to an eligible non-for-profit organization that operates a youth initiative in an urban area in Missouri. These tax credits must not be refundable, but they may be carried forward for five subsequent tax years, or until the full tax credit has been redeemed. The total amount of tax credits authorized must not exceed $500,000 in any tax year. The Missouri Department of Public Safety must maintain and update a list of eligible entities.
The provisions of this bill sunset six years after the effective date.
Statutes affected: