MO HB244

Employers in Missouri may retain 100% of employee withholding taxes for up to five years to offset costs of providing educational benefits to qualified employees pursuing degrees in health care, engineering, or information technology

Qualified individuals must be Missouri residents with annual gross income of $200,000 or less, and include both employees and interns pursuing associate's through doctorate degrees in the specified fields

Employers must enter an agreement with the Department of Economic Development committing to employ the individual for at least as long as they retain withholding taxes; non-compliance requires repayment of retained taxes plus 5% annual interest

Educational benefits cannot be provided to relatives of company directors, managers, or owners within the fourth degree by blood or marriage

Total withholding tax retention across all employers is capped at $2 million, and the program expires seven years after the effective date