HB3037

Modifies the Missouri Empowerment Scholarship Accounts Program tax credit provisions.

The bill modifies the Missouri Empowerment Scholarship Accounts Program tax credit provisions. It allows taxpayers to claim a credit equal to 100% of their contribution to an educational assistance organization, up to 50% of their state tax liability. The credit can be carried forward for up to four years and, for contributions made after January 1, 2028, can also be carried back to the previous tax year. The state treasurer will establish procedures to allocate tax credits and reallocate unused credits.