COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.:1420S.01I Bill No.:SB 190 Subject:Tax Credits; Taxation and Revenue - Income; Economic Development; Education,
Higher
Type:Original Date:February 17, 2025Bill Summary:This proposal establishes tax credits for certain engineering degrees.
FISCAL SUMMARY
ESTIMATED NET EFFECT ON GENERAL REVENUE FUNDFUND
AFFECTED
FY 2026FY 2027FY 2028Fully
Implemented
(FY 2030)
General Revenue
Fund*
$0
Could
Substantially
Exceed
($11,252,710)
Could
Substantially
Exceed
($21,891,565)
Could
Substantially
Exceed
($43,304,394)
Total Estimated
Net Effect on
General
Revenue $0
Could
Substantially
Exceed
($11,252,710)
Could
Substantially
Exceed
($21,891,565)
Could
Substantially
Exceed
($43,304,394)
*Oversight notes there is no maximum cap for the overall program under Section 135.005.
Oversight cannot estimate the level of participation in this tax credit but provided a cost based on
25% of new hires receiving a tax credit each year for five years, as well as their employers.
Other costs include 2 DED FTE (Senior Economic Specialists at $83,784) and 3 DOR FTE
(Associate Customer Service Representatives at $37,020).
ESTIMATED NET EFFECT ON OTHER STATE FUNDSFUND
AFFECTED
FY 2026FY 2027FY 2028Fully
Implemented
(FY 2030)
Total Estimated
Net Effect on
Other State
Funds $0$0$0$0
Numbers within parentheses: () indicate costs or losses. L.R. No. 1420S.01I
Bill No. SB 190
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ESTIMATED NET EFFECT ON FEDERAL FUNDSFUND
AFFECTED
FY 2026FY 2027FY 2028Fully
Implemented
(FY 2030)
Total Estimated
Net Effect on
All Federal
Funds $0$0$0$0
ESTIMATED NET EFFECT ON FULL TIME EQUIVALENT (FTE)FUND
AFFECTED
FY 2026FY 2027FY 2028Fully
Implemented
(FY 2030)
General Revenue
Fund - DOR0 FTE3 FTE3 FTE3 FTE
General Revenue
Fund – DED 0 FTE2 FTE2 FTE2 FTE
Total Estimated
Net Effect on
FTE 0 FTE5 FTE5 FTE5 FTE
☒ Estimated Net Effect (expenditures or reduced revenues) expected to exceed $250,000 in any
of the three fiscal years after implementation of the act or at full implementation of the act.
☐ Estimated Net Effect (savings or increased revenues) expected to exceed $250,000 in any of
the three fiscal years after implementation of the act or at full implementation of the act.
ESTIMATED NET EFFECT ON LOCAL FUNDSFUND
AFFECTED
FY 2026FY 2027FY 2028Fully
Implemented
(FY 2030)
Local
Government$0$0$0$0
FISCAL ANALYSIS L.R. No. 1420S.01I
Bill No. SB 190
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February 17, 2025
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ASSUMPTION
Section 135.005 Tax Credits for Certain Engineering Degrees
Credit #1- Section 135.005 2. - Reimbursement at 50% tuition paid for the employees
Officials from the Department of Revenue (DOR) notes this Section allows a qualified
employer to receive credit for the tuition they reimbursed to a qualified employee. To be a
qualified employer a company must be registered in this state and whose principal business
activity involves engineering. DOR notes that there are over 20 engineering firms in MO. The
smallest firms have about 10 engineers on staff. While the 2 largest firms Burns and McDonnell
who has 1,000 license engineers and Jacobs with 9,000 licensed engineers on staff. Both of
these firms are located in the Kansas City area. DOR is unable to determine how many of these
firms would participate in this tax credit program or how many recent engineering graduates they
hire. DOR notes that this does not require the engineering firm to be a Missouri business, just be
a business registered to do business here in MO. Therefore, this could impact additional firms
outside the state.
DOR notes this proposal states that a qualified employee must be hired full-time after January 1,
2026, and have graduated with an undergraduate or graduate degree. This tax credit program
would allow a qualified employer to receive a tax credit equal to 50% of the tuition they
reimburse for a qualified employee. Tuition only includes the cost for course instruction and
participation and does not like room & board or books and fees. The credit is allowed as long as
the employee remains employed at least four years.
DOR notes this tax credit does not have an annual cap but does not allow the credit to be issued
for more than 50% of an employee’s previous tuition amount paid. The average tuition at the
University of Missouri for engineering students is $10,899 annually for 15 hours. Therefore, this
credit could not exceed $5,450 per employee per year. DOR is unable to determine how many of
the graduating students are employed annually by these companies and how many companies
would wish to pay their tuition. DOR notes that if just 46 employers pay the $5,450 tuition, then
this would cost $250,000. DOR assumes this could be higher than $250,000 especially since it is
not limited to only Missouri companies.
This proposal creates a new tax credit that would require a new line being added to the Form
MO-TC ($2,200), updates to DOR website and changes to the Department’s individual income
tax computer system ($1,832). These changes are estimated to cost $4,032. DOR’s existing tax
credit staff is no longer able to take on any additional tax credits without additional resources.
Due to the intensive knowledge of credits that is needed DOR is not able to use temporary staff
to help with processing these returns. This proposal would require at least 1 FTE Associate
Customer Service Rep at a salary of $37,020. L.R. No. 1420S.01I
Bill No. SB 190
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Oversight assumes the Department of Revenue (DOR) is provided with core funding to handle a
certain amount of activity each year. Oversight assumes DOR could absorb the administrative
costs related to the ITSD costs for this proposal. If multiple bills pass which require additional
staffing and duties at substantial costs, DOR could request funding through the appropriation
process.
Oversight notes that DED, in response to the similar/identical proposal SB 849 (2024), noted
that a rough estimate is approximately 2,250 engineers each year being eligible for the tax credit.
The DED pulled the number of private sector engineers hired in 2022 for Missouri under the age
of 35, trying to capture first time hires that could be eligible for this tax credit. There were over
5,700 engineering degrees awarded in 2022 in the state of Missouri, helping provide a backup to
their estimates.
Oversight notes that currently Indeed.com has a 2,633 engineer vacancies open in Missouri;
therefore, Oversight will take DED’s estimated totals above as basis for further fiscal analysis
below.
Oversight notes that according to the Missouri University of Science and Technology the tuition
for in-state students, 2024-2025 school year, was $15,196 annually and $33,466 for out of state
students.
Oversight notes that the 50% of tuition reimbursement would allow the employer to receive
$7,598 from the tuition paid for Missouri Engineer students at the University of Science and
Technology as shown above.
Oversight, for purpose of this fiscal note, will show a range between 25% (or 563 students) to
50% (1,125 students) of the graduating class, out of 2,250 (DED’s estimate) applied and was
able to obtain job in an engineering field with qualified employer.
Oversight uses DEDs 2,250 newly hired engineers for which employers could reimburse tuition
and qualify for a tax credit. Oversight estimates the cost based on difference in levels of
participation for the employer tax credit in table below to show estimated impact as follow:
Engineer Employee/ Tuition - 50%$7,598 in-state 50% 25% - 563 students/employees$4,277,67450% - 1125 students/employees$8,555,348
Credit #2 - Section 135.005 3. Employers
DOR notes this Section allows the same qualified employers to receive a tax credit for the
compensation they pay to a qualified employee for the first five years they are employed. The
credit is to be equal to 10% of compensation paid for the employee. L.R. No. 1420S.01I
Bill No. SB 190
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The credit per employee cannot exceed $15,000 per year and cannot exceed $75,000 per
employee through the maximum 5 years. DOR notes that the University of Missouri-Columbia
did a survey of their 2023 graduating engineers and found they had a median starting salary of
$73,000 depending on type of engineering.
DOR is unable to determine how many of the engineering firms will hire and seek a credit for the
employees they are hiring. DOR notes that if 17 employees’ compensation is requested as a tax
credit this would cost $250,000. DOR assumes this could be higher than $250,000.
This proposal creates a new tax credit that would require a new line being added to the Form
MO-TC ($2,200), updates to DOR website and changes to the Departments’ individual income
tax computer system ($1,832). These changes are estimated to cost $4,032. DOR’s existing tax
credit staff is no longer able to take on any additional tax credits without additional resources.
Due to the intensive knowledge of credits that is needed DOR is not able to use temporary staff
to help with processing these returns. This proposal would require at least 1 FTE Associate
Customer Service Rep at a salary of $37,020.
Oversight notes officials from the DOR assume the proposal will have a direct fiscal impact on
their organization. Oversight does not have any information to the contrary. Therefore, Oversight
will reflect a 1 FTE (Associate Customer Service Representative) impact for Section 135.005.2,
at $37,020 annually, beginning FY 2026, in the fiscal note.
Oversight assumes the Department of Revenue (DOR) is provided with core funding to handle a
certain amount of activity each year. Oversight assumes DOR could absorb the administrative
costs related to the ITSD costs for this proposal. If multiple bills pass which require additional
staffing and duties at substantial costs, DOR could request funding through the appropriation
process.
Oversight notes the credit is to be equal to 10% in compensation paid for employees who
graduated from an approved school.
Oversight notes that according to the Bureau of Labor and Statistics, occupational employment
and wage estimates, there are currently 38,310 full time engineers in Missouri working in various
fields with an annual mean salary of $89,060. Therefore, Oversight estimates the employer could
receive $8,906 ($89,060 x 10%), but no more than $15,000 per employee per each graduate.
Oversight shows the impact stemming from this Section below:
Engineer - Employee/ Compensation$8,906 Salary for a
graduate at 10%
25% - 563 students/employees$5,014,07850% - 1125 students/employees$10,028,156
Credit #3 – Section 135.005 4. Employee tax credit L.R. No. 1420S.01I
Bill No. SB 190
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DOR notes this Section allows the employee who must be hired after January 1, 2026, to receive
a $2,500 tax credit annually for five years if they are employed by one of the qualified
employers. The tax credit may be claimed each year the taxpayer achieves the status of a
qualified worker for five consecutive tax years beginning with the tax year in which the taxpayer
becomes a qualified worker. No taxpayer shall claim tax credits that exceed a total of $12,500.
DOR assume that each student hired from a qualified institution with an allowed engineering
degree will claim this credit.
DOR is unable to determine how many students would graduate annually and go to work for an
approved company. DOR note that the University of Missouri-Columbia posted they graduated
630 engineering students in 2024. DOR note that not all of them are in a required ABET
accredited program and that additional students graduate from the other ABET accredited
programs in the State. DOR notes that if all of these students would qualify it would cost
$1,575,000 in the first year, $3,150,000 in the second year, $4,725,000 in the third, $6,300,000 in
the fourth year and $7,875,000 in the fifth year. This amount would be the expected loss for
each year thereafter.
DOR notes that this proposal creates a new tax credit that would require a new line being added
to the Form MO-TC ($2,200), updates to the DOR’s website and changes to the Department’s
individual income tax computer system ($1,832). These changes are estimated to cost $4,032.
DOR’s existing tax credit staff is no longer able to take on any additional tax credits without
additional resources. Due to the intensive knowledge of credits that is needed DOR is not able to
use temporary staff to help with processing these returns. This proposal would require at least 1
FTE Associate Customer Service Rep at a salary of $37,020.
Oversight assumes the Department of Revenue (DOR) is provided with core funding to handle a
certain amount of activity each year. Oversight assumes DOR could absorb the administrative
costs related to the ITSD costs for this proposal. If multiple bills pass which require additional
staffing and duties at substantial costs, DOR could request funding through the appropriation
process.
Oversight notes this credit allows for the employee to receive up to $2,500 tax credit annually
for five years if they are employed by one of the qualified employers.
Oversight estimates the impact using the same level of participating students/employees above
and shows the impact stemming from this section below:
Engineer - Employee/ Compensation$2,50025% - 563 students/employees$1,407,50050% - 1,125 students/employees$2,812,500
Oversight is uncertain if an employer could receive both reimbursed tuition tax credit and the
employee compensation tax credit. For purposes of the fiscal note, Oversight assumes an L.R. No. 1420S.01I
Bill No. SB 190
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February 17, 2025
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employer could receive both tax credits. If the assumption is incorrect, this would change the
impact presented in the fiscal note.
Oversight summarizes the potential impact, assuming 25% (563) of newly hired engineers who
would receive a tax credit, as would their employers. This assumption is based on those new
hires having graduated from an in-state institution.
Section 135.005 2. Employer Tuition
Reimbursement Tax Credit – 50% of in-state tuition
($7,598) – 25% of new hires (563)$4,277,674
Section 135.005 3. Employer Compensation Paid
Tax Credit – 10% of salary ($8,906) – 25% of new
hires (563) $5,014,078
Section 135.005 .4 Employee Tax Credit - $2,500
per year – 25% of new hires (563) $1,407,500
Total $10,699,252
Summary for Section 135.005
Oversight notes that this program does not have a maximum cap for the overall program, instead
limits each tax credit per individual employer or employee for a given amount of years. The
tuition reimbursement tax credit has a four-year award schedule while the other two tax credits
have a 5 year award schedule. Oversight will show cumulative effect of the tax credits stemming
from employers or employees claiming a tax credit each year while next graduates entering the
workforce add to the claims in the second year and so on.
Estimated cumulative cost at 25% of new hires qualifying for tax credit each year:
Year 1Year 2Year 3Year 4 Year 5Group 1$10,696,252$10,696,252$10,696,252$10,696,252$6,421,578*Group 2$10,696,252$10,696,252$10,696,252$10,696,252Group 3$10,696,252$10,696,252$10,696,252Group 4$10,696,252$10,696,252Group 5$10,696,252Total$10,696,252 $21,392,504 $32,088,756 $42,785,008 $49,206,586
*The tuition reimbursement tax credit is awarded for four years and does not occur for this group
in the fifth year.
Section 135.800 Tax Credit Accountability Act
Officials from the Department of Revenue (DOR) assume adding these tax credits to the Tax
Credit Accountability Act of 2004 would not fiscally impact DOR.
Officials from the Office of Administration – Budget & Planning assume Section 135.800 is
modified to include rape and crisis centers under Domestic and social tax credits, associations of L.R. No. 1420S.01I
Bill No. SB 190
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life and health insurance and property and casualty guaranties under Financial and insurance tax
credits, and engineering workforce development under Training and educational tax credits.
These modified provisions may have an unknown fiscal impact on TSR.
Officials from the Department of Economic Development assume Section 135.800 is the "Tax
Credit Accountability Act of 2004".
Oversight notes the changes within Section 135.800 will not have a fiscal impact on any above
agencies, instead make sure the above tax credit is properly reference within the RSMo.
Therefore, Oversight will reflect zero impact stemming from these changes in the fiscal note.
Overall bill:
Officials from the Department of Revenue (DOR) note this proposal appears to create three
new tax credit programs administered by the Department of Economic Development. These
credits involve ABET certified engineering programs in the state of Missouri. DOR notes that
while 13 different Colleges and Universities offer engineering courses, it appears that only the
University of Missouri-Columbia, University of Missouri – Kansas City and the Missouri
University of Science & Technology have some engineering programs that are ABET accredited.
These credits are all to start for all tax years beginning on or after January 1, 2026. Therefore,
the first time they will be claimed on a tax return is FY 2027.
DOR notes that none of the credits created in this proposal allow for the credit to be refunded.
Nor are they allowed to be transferred, sold or assigned. Additionally, none of these credits have
an annual cap. These credits do have a sunset date of December 31, 2031.
Officials from the Department of Economic Development (DED) note the three tax credit
programs in this bill could have a significant fiscal impact if not amended to include an annual
cap.
Section 135.005. This bill introduces tax credits of 50% of the tuition reimbursement paid for
qualified employers for newly employed workers holding engineering degrees or certificates
from accredited programs that may be claimed each year the qualified worker remains employed
or under contract up to four years. This tax credit may not exceed 50% the average annual
amount paid by a qualified worker for enrollment in a qualified program. If a qualified employer
has other tax credits, those tax credits must be claimed first.
The average annual public tuition for engineering programs in Missouri for in-state students is
$9,502. Not considering private education or out-of-state tuition, and assuming all public
education in-state graduates begin working within one year in Missouri for a Qualified
Employer, and have qualified tuition reimbursement, and assuming the employer reimburses
tuition, the average amount of tax credits that would be issued each year for the first year could
be $0-$14,398,944 and increase each year for the first five years. L.R. No. 1420S.01I
Bill No. SB 190
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Additionally, it offers tax credits to qualified employers based on 10% of the compensation paid
to these qualified workers during their first through fifth consecutive years of employment or
contract. The tax credits shall not exceed $15,000 for any single qualified worker in any given
tax year and shall not exceed a total of $75,000 for any single qualified worker. If a qualified
employer has other tax credits, those tax credits must be claimed first.
There are approximately 3,061 individuals who graduate with an engineering degree in Missouri
each year. Engineering occupations have a 24% turnover rate. The median wage of an Engineer
is $93,301. Assuming all 3,061 individuals get a job in Missouri with a Qualified Employer, are
paid the median salary, and 76% of them continue to be employed by the same employer, the
average amount of tax credits that would be issued in the first year could be $0-$28,559,436 and
increase each year for the first five years.
The legislation also provides tax credits equal to $2,500 directly to qualified workers who have
recently obtained engineering degrees or certificates that are employed in relevant fields each
year they achieve the status of a qualified worker for five consecutive tax years, not to exceed a
total of $12,500. The tax credits may be carried forward 4 years beyond the year in which the
taxpayer initially claimed the tax credit.
There are 3,061 graduates each year. Assuming they are all Qualified Workers and 76% of them
continue to work for their employer consecutively, the average amount of tax credits that would
be issued in the first year could be $0-$7,652,500 and increase each year for the first five years.
The implementation of HB 204 would result in a significant reduction of TSR due to the issuance
of tax credits. The exact cost to the state depends on the number of qualified employers and
workers participating in the program and the total amount of tax credits claimed.
DED estimates the need of 2 FTE to implement this program.
Oversight does not have any information to the contrary. Therefore, Oversight will reflect the
DED 2 FTE (Senior Economic Specialists $83,784 each) impact, in the fiscal note.
Officials from the Office of Administration – Budget & Planning (B&P) assume Section
135.005 authorizes three training and educational tax credits to qualified employers and qualified
workers beginning on or after January 1, 2026. A qualified employer is a business entity
registered to do business in this state and whose principal business activity involves the
engineering sector. Qualified workers are defined as a person newly-employed on a full-time
basis with a qualified employer on or after January 1, 2025, and who has been awarded an
engineering degree or certificate from a qualified program and institution.
The first tax credit is for a qualified employer who reimburses tuition to a qualified employee
who received his or her degree or certificate within one year prior to or following employment
with the employer. The tax credit shall be equal to 50% of the amount of tuition reimbursed and L.R. No. 1420S.01I
Bill No. SB 190
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February 17, 2025
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claimed for the first four years of employment. Such tax credits shall not be transferred, sold, or
assigned, and shall not be refundable or carried forward to any other tax year.
The second tax credit is for a qualified employer who pays compensation to a qualified employee
for the first five years of such employment. The tax credit shall be equal to 10% of the
compensation paid. Tax credits shall not exceed $15,000 for a qualified employee in a tax year,
and a total of $75,000 for any given qualified employee. Employer tax credits shall not be
transferred, sold, or assigned, and shall not be refundable or carried forward to any other tax
year.
A third tax credit is allowed to a taxpayer who becomes a qualified employee in an amount equal
to $2,500 that may be claimed for five consecutive tax years beginning with the tax year they
qualified and a maximum of $12,500 in tax credits. Employee tax credits shall not be transferred,
sold, or assigned, and shall not be refundable, but may be carried forward to subsequent tax years
not exceeding the fourth tax year succeeding the tax year they initially claimed the tax credit.
This act shall sunset on December 31, 2031, unless reauthorized by the General Assembly.
Section 135.800 is modified to include rape and crisis centers under Domestic and social tax
credits, associations of life and health insurance and property and casualty guaranties under
Financial and insurance tax credits, and engineering workforce development under Training and
educational tax credits. These modified provisions may have an unknown fiscal impact on TSR.
This tax credit has a cap on employees and employers, but not the overall program. B&P notes
this will have an unknown impact on TSR but could exceed $1M annually.
The Oversight Division is responsible for providing a Sunset Report pursuant to Section 23.253
RSMo; however, Oversight assume it can absorb the cost with the current budget authority.
Rule Promulgation
Officials from the Joint Committee on Administrative Rules assume this proposal is not
anticipated to cause a fiscal impact beyond its current appropriation.
Officials from the Office of the Secretary of State (SOS) note many bills considered by the
General Assembly include provisions allowing or requiring agencies to submit rules and
regulations to implement the act. The SOS is provided with core funding to handle a certain
amount of normal activity resulting from each year's legislative session. The fiscal impact for
this fiscal note to the SOS for Administrative Rules is less than $5,000. The SOS recognizes that
this is a small amount and does not expect that additional funding would be required to meet
these costs. However, the SOS also recognizes that many such bills may be passed by the
General Assembly in a given year and that collectively the costs may be in excess of what the
office can sustain with its core budget. Therefore, the SOS reserves the right to request funding L.R. No. 1420S.01I
Bill No. SB 190
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for the cost of supporting administrative rules requirements should the need arise based on a
review of the finally approved bills signed by the governor.
FISCAL IMPACT – State
Government
FY 2026
(10 Mo.)
FY 2027FY 2028Fully
Implemented
(FY 2030)
GENERAL REVENUECosts – Section(s) 135.005
2,3,4, - FTEs needed p.4-6
Personnel Service$0($113,281)($115,547)($118,844) Fringe Benefits$0($92,779)($93,687)($92,975) Expense & Equipment$0($39,933)($1,745)($1,852)Total Costs - DOR$0($245,993)($210,979)($213,671)FTE Change0 FTE3 FTE3 FTE3 FTECost - Section 135.005 2,3,4. –
Employer Tuition Tax Credit,
compensation, and employee
reimbursement p.7-9$0
Could
Substantially
Exceed
($10,696,252)
Could
Substantially
Exceed
($21,392,504)
Could
Substantially
Exceed
($42,785,008)
Costs – Section(s) 135.005
2,3,4 - 2 FTEs needed p. 7
Personnel Service$0($170,919)($174,338)($185,009) Fringe Benefits($100,088)($101,459)($107,669) Expense & Equipment$0($39,458)($12,285)($13,037)Total Costs - DED$0($310,465)($288,082)($305,715)FTE Change0 FTE2 FTE2 FTE2 FTE
ESTIMATED NET EFFECT
ON GENERAL REVENUE$0
Could
Substantially
Exceed
($11,252,710)
Could
Substantially
Exceed
($21,891,565)
Could
Substantially
Exceed
($43,304,394)
Estimated Net FTE Change on
General Revenue0 FTE5 FTE5 FTE5 FTE L.R. No. 1420S.01I
Bill No. SB 190
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FISCAL IMPACT – Local
Government
FY 2026
(10 Mo.)
FY 2027FY 2028Fully
Implemented
(FY 2030)
$0$0$0$0
FISCAL IMPACT – Small Business
A direct positive fiscal impact to small businesses who hire engineers would be expected as a
result of this proposal.
FISCAL DESCRIPTION
For all tax years beginning on or after January 1, 2026, this act authorizes three tax credits to
qualified employers and qualified workers. Qualified employers are defined as a business entity
registered to do business in this state and whose principal business activity involves the
engineering sector. Qualified workers are defined as a person newly-employed on a full-time
basis with a qualified employer on or after January 1, 2026, and who has been awarded an
engineering degree or certificate from a qualified program from a qualified institution, as such
terms are defined in the act.
A qualified employer shall be allowed a tax credit for tuition reimbursed to a qualified worker
who has received his or her degree or certificate within one year prior to or following the
commencement of employment with the qualified employer. The tax credit shall be equal to 50%
of the amount of tuition reimbursed and may be claimed for the first four years of the qualified
worker's employment or contract. Such tax credits shall not be transferred, sold, or assigned, and
shall not be refundable or carried forward to any other tax year.
A qualified employer shall also be allowed a tax credit for compensation paid to a qualified
worker for the first five years of such worker's employment. The tax credit shall be equal to 10%
of compensation paid to a qualified worker. Such tax credits shall not exceed $15,000 for a
qualified worker in a tax year, and shall not exceed a total of $75,000 for any given qualified
worker. Such tax credits shall not be transferred, sold, or assigned, and shall not be refundable or
carried forward to any other tax year.
A taxpayer who becomes a qualified worker shall be allowed a tax credit in an amount equal to
$2,500. The tax credit may be claimed for five consecutive tax years beginning with the tax year
in which the taxpayer becomes a qualified worker. No taxpayer shall claim a total of more than
$12,500 in tax credits. Such tax credits shall not be transferred, sold, or assigned, and shall not be
refundable, but may be carried forward to subsequent tax years, provided that a tax credit shall
not be carried forward beyond the fourth tax year succeeding the tax year in which the taxpayer
initially claimed the tax credit. L.R. No. 1420S.01I
Bill No. SB 190
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February 17, 2025
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This act shall sunset on December 31, 2031, unless reauthorized by the General Assembly.
This legislation is not federally mandated, would not duplicate any other program and would not
require additional capital improvements or rental space.
SOURCES OF INFORMATION
Department of Revenue
Office of Administration – Budget & Planning
Department of Economic Development
Joint Committee on Administrative Rules
Office of the Secretary of State
Oversight Division
Julie MorffJessica HarrisDirectorAssistant DirectorFebruary 17, 2025February 17, 2025