MO HB78

Establishes the "Missouri Jobs for Education Program" to provide tuition credits at Missouri public institutions of higher education for business owners and companies that create new jobs in the state.

Qualifying new jobs must pay at least the county average wage, be maintained for at least one year, and be full-time positions requiring a minimum of 2,000 hours per year with 160 hours per month for ten of twelve calendar months.

Tuition credits equal the amount of withholding taxes withheld on qualifying jobs and may be used by employees, business owner relatives, or any person the business owner designates; credits expire after ten years if unused.

Department of Economic Development administers the program and deposits withheld taxes from new jobs into a dedicated "Missouri Jobs for Education Fund" up to a maximum of $3 million, with credits capped at the amount deposited by the employer.

Program automatically sunsets four years after the effective date unless reauthorized; if reauthorized, it sunsets twelve years after reauthorization.