MO HB391

Small businesses with 50 or fewer employees receive a $500 tax credit for each disabled employee or person recently discharged from a correctional facility that they hire.

Disabled employees must be employed for an average of 25 hours per week for at least one year before the credit is eligible; persons from correctional facilities must work 40 hours per week for at least one year, then the credit is available for the next three years.

Tax credits are applied against Missouri income tax liability under chapter 143, and unused credits may be carried forward up to three subsequent taxable years but are not refundable.

Total tax credits redeemed statewide cannot exceed $10 million per fiscal year, allocated on a first-come, first-served basis.

Program automatically sunsets December 31, six years after enactment unless reauthorized by the General Assembly.