We ran into similar issues here in South Dakota. Not jail time, but regarding school sports. The Governor (Kristi Noem) issued an Executive Order preventing trans students from competing on teams of their gender. On the National level, (I forgot the organization that handles intercollegiate sports), declared that Noem's policy conflicted with their policy of inclusion. That meant that the organization would not host any championship games here. That translated into the loss of sales tax revenues from people traveling here and staying for the competitions. Kristi Noem is all about the money, so reversed her earlier decision.
I wonder if this Missouri Bill threatening to imprison teachers would have a similar effect. Teachers might decide to leave the state to look for work elsewhere. What happens to the schools? That could cause a loss of federal funding because that state law would conflict with federal law.
In an election year, there is a lot of posturing. Maybe that is all this is.