MO SB164

Establishes the "Missouri Science, Technology, Engineering, and Mathematics Initiative" within the Department of Higher Education to award matching funds to public institutions of higher education through the annual appropriations process.

Creates a "Science, Technology, Engineering, and Mathematics Fund" managed by the state treasurer, with unused funds reverting to the general revenue fund at the end of each biennium and investment earnings credited back to the fund.

Directs fund use to support four program types: endowed teaching professor programs for undergraduate STEM faculty, scholarship and loan forgiveness programs for STEM students and teachers, experiential youth programs for middle and junior high school students, and career enhancement programs for current elementary and secondary STEM teachers.

Grants the Department of Higher Education authority to promulgate rules and regulations for administering the initiative, subject to Chapter 536 provisions regarding rulemaking review and approval.