HB 2556 -- Child Initiative Program

Sponsor:  Hubbard

This bill establishes the Child Initiative Program within the
Department of Economic Development and creates the Child
Initiative Fund consisting of moneys appropriated and made
available for subsidized part-time employment as part of this
program.  The program is to provide:

(1)  Information and support to students to consider college and
actively prepare for it as early as middle school;

(2)  Subsidized part-time employment; and

(3)  A college savings account for eligible student participants.
Eligible students must reside in Missouri, be enrolled in the
fifth grade or higher in a public metropolitan school district,
and agree to specified program requirements.

The Commissioner of Education must designate a not-for-profit
agency to coordinate the solicitation of donations and employment
opportunities and to work with school districts to provide
program information and support to students through
school-related activities and facilities.

When a student begins working as a condition of the program, the
employer must deposit 50% of the student's weekly wages into a
college savings account established for the student.  Entities
that do not participate as employers may make monetary donations
to the fund.  These donations will be divided among the students
in proportion to the number of hours worked by each individual
student.

Beginning January 1, 2009, the bill authorizes a tax credit equal
to 50% of the amount paid to a participating student or 50% of
the amount of a donation made by the taxpayer to the program.  A
taxpayer cannot claim more than $50,000 per year, and the
cumulative amount of tax credits that may be claimed by all
taxpayers in any fiscal year cannot exceed $20 million.  The
credits may be carried forward four years.

The provisions of the bill will expire December 31 six years from
the effective date.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:12 pm