SB 983 - This act modifies the Missouri Science, Technology, Engineering and Mathematics Initiative.
Any taxpayer who hires a student majoring in science, technology, engineering, or mathematics to fill an internship position may apply to have up to five thousand dollars of the taxpayer's state tax liability removed from the general revenue fund and placed in the Science, Technology, Engineering and Mathematics Fund. The student must be enrolled at a two-year or four-year public or private Missouri college or university. The internship position must be in the fields of science, technology, engineering, or mathematics. In addition, the internship must be located in Missouri and be for a duration of at least twelve weeks and consist of at least fifteen hours of work per week.
The Department of Higher Education must establish a procedure for approving applications. The cumulative amount of taxes transferred to the Science, Technology, Engineering and Mathematics Fund cannot exceed fifty thousand dollars annually from all participating taxpayers. Any donations to the fund from third parties will not count toward the fifty thousand dollar limit.
This act is substantially similar to HB 2038 (2014) and HB 934 (2013).