MO SB492

Establishes the "Missouri Advisory Board for Educator Preparation" (MABEP) within the Department of Elementary and Secondary Education to advise on quality educator preparation programs.

Eliminates requirement that teacher education programs meet national or regional accreditation; State Board of Education standards must equal or exceed those of national accrediting associations.

Modifies community college funding to distribute at least 90 percent of core funding increases beginning in fiscal year 2016 based on performance-funding measures under section 173.1006.

Creates new sections establishing the "Missouri Science, Technology, Engineering and Mathematics Initiative" with matching funds for STEM programs and an information technology certification program through technical course work.

Establishes performance funding framework for public four-year institutions and State Technical College of Missouri, with at least 90 percent of annual increases distributed according to performance measures beginning fiscal year 2016; requires evaluation reports by October 31, 2019 and every four years thereafter.