SB 977 - This act modifies provisions relating to the science, technology, engineering, and mathematics (STEM) initiative, including several definitions. Under current law, the General Assembly may appropriate funds to the STEM Fund to match institution funds to support certain programs, including endowed teaching professor programs, which provide funds to support faculty who teach undergraduate STEM courses at public institutions of higher education, and career enhancement programs for current elementary and secondary teachers and professors at Missouri public and private colleges and universities in the STEM fields.
This act repeals such programs from the list of programs for which the General Assembly may appropriate funds.
Under this act, any taxpayer in this state who provides educational benefits or selects a student majoring in a STEM field, who is attending a two-year or four-year public or private Missouri college or university for an internship located in this state, or who selects a student who recently graduated with a degree in a STEM field from any such school for a full-time position in a STEM field in this state, may apply to have $10,000 of the taxpayer's state tax liability transferred from the general revenue fund and placed in the STEM Fund, upon approval by the Department and appropriation by the General Assembly.
The total amount of taxes transferred to the Fund shall not exceed an annual total of $200,000 from all participating taxpayers in tax year 2021, with such amount adjusted annually for inflation. If a donation is made to the Fund from a third party, such donation shall not count toward such annual limit.
This act is identical to HB 1796 (2020), HB 696 (2019), HB 181 (2019), and is similar to HB 2255 (2018).
JOSIE BUTLER