MO HB1459

Allows taxpayers to claim a tax credit equal to 50% of eligible donations made to innovation campuses for science, technology, engineering, and mathematics (STEM) projects, effective January 1, 2015.

Eligible donations include cash, publicly traded stocks and bonds, and real estate; eligible taxpayers include individuals, corporations, insurance companies, financial institutions, and tax-exempt charitable organizations subject to Missouri income tax.

Innovation campuses must consist of at least one high school or K-12 district, a Missouri four-year higher education institution, a Missouri-based business, and a Missouri two-year college or technical college.

Tax credits may be carried forward for up to four subsequent years if they exceed a taxpayer's annual tax liability and may be assigned, transferred, or sold with notarized endorsement filed with the Department of Economic Development.

The program sunsets six years after enactment unless reauthorized by the General Assembly, with an automatic sunset after twelve years if reauthorized.