Bill > HB3037

This bill modifies provisions of the Missouri Empowerment Scholarship Accounts Program tax credit, which allows taxpayers to claim a credit against their state income tax for making qualifying contributions to educational assistance organizations, which are entities that provide scholarships to students. Key changes include allowing taxpayers to carry back a tax credit to their immediately prior tax year for contributions made on or after January 1, 2028, in addition to the existing ability to carry forward credits for up to four subsequent tax years. The bill also maintains the program's annual cap of seventy-five million dollars in tax credits, which the State Treasurer will adjust annually based on changes in state aid distributed to school districts, and establishes a first-come, first-served allocation process for these credits, with provisions for reallocating unused credits. Importantly, taxpayers cannot designate specific students to receive scholarships from their contributions. The effectiveness of these provisions is tied to the state's appropriation for pupil transportation, requiring it to meet or exceed forty percent of the projected 2021 funding level.

https://house.mo.gov/Bill.aspx?bill=HB3037&year=2026&code=R