The proposed bill aims to establish a new tax credit program under section 135.390 of chapter 135, RSMo, specifically designed to support taxpayers who provide services to homeless individuals. Eligible taxpayers include those who are certified as qualified providers of employment services, employment, or housing for homeless persons. The bill allows these certified providers to claim a tax credit of up to $10,000 against their income tax liability for each tax year starting from January 1, 2027. The total amount of tax credits available under this program is capped at one million dollars per fiscal year, and the credits are non-refundable and non-transferable, although they can be carried forward for up to three subsequent tax years. The Department of Economic Development is tasked with creating guidelines and applications for certification as qualified providers, ensuring that applicants meet specific criteria related to the services they provide. The certifications will be valid for twelve months and can be reauthorized. Additionally, the bill includes provisions for the program to automatically sunset on December 31, 2032, unless reauthorized by the General Assembly, and outlines the department's authority to promulgate necessary rules for the program's administration.

Statutes affected:
Introduced (6450H.01): 135.390