MO HB1956

Allows Missouri taxpayers to deduct 100% of tuition and fees for up to 18 credit hours needed to complete a bachelor's degree at a public four-year institution in the state.

Limits eligibility to individuals who have been Missouri residents for at least one year prior to claiming the deduction and have not been enrolled as full-time students for longer than four years.

Requires taxpayers to provide proof of graduation from the public four-year institution where they earned their bachelor degree to claim the deduction.

Applies to all taxable years beginning on or after January 1, 2011, with the Department of Revenue establishing procedures and rules for claiming the deduction.

Program automatically sunsets on December 31, six years after the effective date unless reauthorized by the general assembly, with a subsequent sunset on December 31, twelve years after reauthorization.