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MO HB248

Bill

Official Source

Status

Introduced

1/19/2011

Primary Sponsor

Michael Corcoran

Click for details

Origin

House of Representatives

2011 Regular Session

AI Summary

  • Allows Missouri residents to deduct 100% of tuition and fees paid at public two-year or four-year higher education institutions for the final credit hours needed to complete an associate or bachelor degree
  • Limits deduction to a maximum of 9 credit hours for associate degrees and 18 credit hours for bachelor degrees, with no more than 18 credit hours total per taxpayer
  • Requires taxpayers to have been Missouri residents for at least one year before claiming the deduction and to provide proof of graduation
  • Applies to tax years beginning January 1, 2012 or later
  • Program automatically expires December 31 six years after enactment unless reauthorized by the legislature, with a secondary sunset twelve years after reauthorization

Legislative Description

Authorizes an income tax deduction for 100% of tuition and fees paid for up to the last nine or 18 hours required to complete an associate or bachelor degree from a public two-year or four-year college

Last Action

Public Hearing Completed (H)

2/17/2011

Committee Referrals

Ways And Means2/2/2011

Full Bill Text

No bill text available