HCS/HB 1459 - This act creates a new tax credit for donations to innovation campuses. An innovation campus is a partnership between a Missouri high school, a four-year higher education institution, a business, and a two-year higher education institution. For a donation to be eligible for a tax credit, it must be used to advance learning in the areas of science, technology, engineering, and mathematics. A taxpayer may receive a tax credit in an amount equal to fifty percent of the taxpayer's donation to an innovation campus. The tax credit is not refundable but may transferred or carried forward for four years. After application for a tax credit has been made, the Department of Economic Development must receive from an innovation campus an amount equal to the value of the tax credit before the tax credit will be issued.
This act sunsets on August 28, 2020.
This act is similar to SB 729 (2014).
MIKE HAMMANN