HB 3037 modifies Missouri's tax credit program for donations to scholarship organizations, allowing taxpayers to claim a 100% credit for contributions (up to 50% of their state tax liability) toward scholarships. The bill sets a $75 million annual cap on total credits, adjusted yearly based on state education funding changes, with unused credits carryable forward for up to four years. Donors cannot designate which student receives a scholarship, and the program activates only when transportation funding meets specific thresholds tied to 2021 levels. This affects taxpayers donating to educational assistance organizations seeking to fund student scholarships through state tax incentives.
HB 2716 creates a Missouri state tax credit for eligible rail entities to cover certain railroad infrastructure costs. It allows short-line railroads (Class II/III), rail siding owners, or port/city rail authorities to claim a 50% credit against their state tax liability for qualified maintenance, reconstruction, or new rail infrastructure expenses like tracks, bridges, or industrial spurs. The credit is capped annually at $4.5 million for maintenance costs and $10 million for new infrastructure projects, with unused credits carryable for up to five years. Taxpayers must submit a certificate to the Missouri Department of Economic Development detailing eligible expenses and track miles, with credits allocated in the order claims are received if annual limits are exceeded.
HB 3095 modifies tax credit eligibility for new business facilities, specifically affecting headquarters facilities. It extends the cutoff for eligibility from 2031 to 2041 for headquarters facilities to receive incentives under sections 135.100-135.150. The bill also allows headquarters expansions meeting minimum thresholds (25+ new employees and $1 million+ investment) to count as separate new facilities for credit purposes. Additionally, it clarifies that multiple noncontiguous buildings within the same county or municipality count as a single facility for eligibility.
HB 2639 creates a state tax credit for individuals and businesses that donate to certified local law enforcement foundations. Taxpayers can claim credits of up to $5,000 (single filers) or $10,000 (married/joint filers) annually for contributions used to fund officer training, salary supplements, equipment, or joint emergency response teams with behavioral health specialists. Foundations must be certified by the state, limit annual contributions to $3 million, and cannot accept more than $3 million per year from this program. The total tax credits available are capped at $75 million annually, with unused credits carried forward for up to five years.
HB 1785 creates a state income tax credit for Missouri taxpayers who donate to qualifying pregnancy resource centers. It offers tax credits of 50% (2007-2020), 70% (2021-2026), and 100% (2027+) of donations, up to $50,000 annually per taxpayer. To qualify, centers must provide free, non-abortion services (no abortions performed/referred) and meet strict criteria like in-person support and IRS tax-exempt status. The bill sets annual spending limits on total credits ($2.5M until 2019, then $3.5M until 2021, with no cap after 2021) and requires state verification of center eligibility.
