HB 77 -- TAX CREDIT FOR EDUCATIONAL EXPENSES

SPONSOR: Loy

This bill establishes the "Missouri Parental Choice Tax Credit Act" and provides a tax credit to parents or guardians of any "qualified student" enrolling in a home school, family paced education school, private school, private virtual school, parochial school, or parish school. The tax credit can be claimed for eligible expenses which are outlined in the bill and include the cost of tuition and fees, textbooks, and tutoring services. The tax credit cannot exceed the lesser of the eligible qualified expenses paid by the taxpayer or the State adequacy target for the tax year.

The bill outlines specific provisions for claiming the tax credit along with eligibility restrictions. Taxpayers participating in the Missouri Empowerment Scholarship Program are ineligible. Tax credits are refundable but not transferable.

This program sunsets six years after the effective date.

This bill is similar to HB 1911 (2024).

Statutes affected:
Introduced (0959H.02): 135.721