MO HB1583

Repeals previous provisions of the Missouri Science and Innovation Reinvestment Act (sections 348.250, 348.253, 348.257, 348.265, 348.269, and 348.300) and enacts ten new sections relating to the Missouri Technology Corporation.

Establishes the Missouri Technology Corporation as a private not-for-profit corporation governed by a 15-member board including the director of economic development, University of Missouri system president, legislative representatives, and 11 governor-appointed members with expertise in science and innovation fields.

Creates a tax credit program allowing taxpayers who make eligible donations to the Missouri Technology Corporation to claim a credit equal to 50 percent of the donation amount against state income tax liability (chapters 143, 147, 148), with unused credits transferable and carryforward available for up to four years.

Establishes the Missouri Technology Investment Fund (formerly called Science and Innovation Reinvestment Fund) to support the corporation's activities including business modernization, technology development, commercialization, and science and innovation research programs.

Prohibits use of state funds from the technology investment fund for research projects involving abortion services, human cloning, or prohibited human research; disqualifies businesses performing or inducing abortions or engaged in human cloning from receiving state monies and incentives.