The bill proposes the repeal of section 173.2553 of the Revised Statutes of Missouri and enacts a new section that establishes the "Fast Track Workforce Incentive Grant" program. This program aims to provide financial assistance to Missouri citizens attending approved postsecondary institutions. The new section outlines eligibility criteria for both students and apprentices, including income limits that have been increased from eighty thousand dollars to one hundred thousand dollars for married filing joint taxpayers, and from forty thousand dollars to fifty thousand dollars for all other taxpayers. Additionally, these income caps will be adjusted annually for inflation starting January 1, 2027. The bill also creates the "Fast Track Workforce Incentive Grant Fund" within the state treasury, which will be used exclusively for the program's purposes. It stipulates that grants will cover tuition and related educational costs after other financial aid has been applied. The coordinating board for higher education is designated as the administrative agency responsible for implementing the program, including determining eligibility and awarding grants. The program is set to sunset automatically on August 28, 2029, unless reauthorized by the General Assembly.

Statutes affected:
Introduced (6770H.01): 173.2553