MO HB304

Creates a tax credit for reserve public safety officers (reserve law enforcement, firefighters, or certified public safety personnel) who work without compensation for agencies other than their primary employer, beginning January 1, 2012.

Tax credit equals $10 per hour worked in reserve status, with a monthly cap of $250 and annual cap of $3,000 per taxpayer.

Credit amount cannot exceed the taxpayer's state income tax liability for the year; unused credits may be carried forward up to four subsequent taxable years but are not refundable or transferable.

Department of Revenue authorized to promulgate rules for implementing the tax credit program under Chapter 536 provisions.

Program automatically sunsets on December 31, six years after the effective date unless reauthorized by the General Assembly; if reauthorized, sunsets after twelve additional years.