MO HB1427

Allows small businesses with 50 or fewer employees a $500 tax credit for each disabled employee or person hired within 12 months of release from state or federal prison.

Disabled employees must work a minimum of 25 hours per week for at least one year; formerly incarcerated employees must work 40 hours per week for at least one year before the business becomes eligible for the credit.

For formerly incarcerated employees, the $500 credit can be claimed for three consecutive years after the one-year eligibility period is met.

Tax credit cannot exceed the taxpayer's state income tax liability for the year claimed, with unused amounts allowed to carry forward up to three subsequent years; aggregate credits statewide are capped at $10 million per fiscal year on a first-come, first-served basis.

Program automatically sunsets December 31, 2019 (six years after enactment) unless reauthorized by the General Assembly; if reauthorized, it sunsets December 31 twelve years after the reauthorization date.