MO HB1981

Establishes a $500 tax credit per eligible employee for small businesses (50 or fewer employees) that hire disabled persons or individuals recently discharged from correctional facilities, effective January 1, 2011

Requires disabled employees to work a minimum of 25 hours per week and be employed for at least one year before the business qualifies for the credit

Requires employees discharged from correctional facilities to work at least 40 hours per week, be employed for at least one year, with the credit available for the first three years of employment after discharge

Limits tax credit to the taxpayer's state tax liability each year, with unused credits allowed to carry forward for three subsequent years; aggregate credits statewide capped at $10 million per fiscal year on a first-come, first-served basis

Program automatically sunsets December 31, six years after effective date unless reauthorized by the general assembly; if reauthorized, sunsets December 31, twelve years after reauthorization