Bill > SB24

This bill modifies the Missouri Empowerment Scholarship Accounts program by establishing new regulations for educational assistance organizations and scholarship funding. The bill caps the total tax credits for program contributions at $25 million in the first year and limits the number of certified educational assistance organizations to no more than ten per school year, with specific geographic restrictions on where these organizations can be based. It creates a new Missouri Empowerment Scholarship Accounts Board composed of state officials and appointed members to assist the state treasurer in program administration. The bill introduces a new provision requiring educational assistance organizations to deposit 4% of their qualifying contributions into a fund for marketing and administrative expenses. Additionally, the bill mandates that educational assistance organizations must award scholarships to all qualified students who apply, and if contributions are insufficient to fully fund a scholarship, the student's school district must remit per-pupil state funding to the organization, up to the state adequacy target. The term "qualifying contribution" is narrowly defined to include only cash donations, excluding stocks, bonds, and other securities.

Education

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=396