Missouri Senate Bill SB1392

Missouri 2024 Regular Session

• Introduced: 2/7/24
• Refer: 2/8/24

Caption

Modifies provisions of the Missouri Empowerment Scholarship Accounts Program and authorizes charter schools to operate in Boone County, St. Charles County, and St. Louis County

Impact

The overall impact of SB1392 includes the repeal of several current statutes and the establishment of new regulations related to the operation of educational assistance organizations and the administration of scholarship accounts. For the 2021 fiscal year, the total amount of tax credits available for allocation will be adjusted yearly to a maximum of seventy-five million dollars. The bill aims to enhance educational options through scholarship programs while ensuring that organizations effectively utilize funds to support eligible students. Notably, it sets stringent requirements for organizations managing these funds, including accountability and reporting measures to the state treasurer.

Summary

Senate Bill 1392 introduces substantial amendments to existing laws regarding educational opportunities for elementary and secondary school students in Missouri. The bill allows taxpayers contributing to designated educational assistance organizations to claim a tax credit of up to one hundred percent of their contributions, capped at fifty percent of their state tax liability. This change is positioned to incentivize contributions to scholarship accounts, thereby providing enhanced educational opportunities to students in need, specifically those with individualized education plans or those from lower-income backgrounds.

Contention

Significant points of contention surrounding SB1392 include concerns from opponents about potentially undermining public school funding and the effectiveness of oversight over educational organizations. Critics argue that an unchecked expansion of tax credits directed to private educational options may divert necessary funding from public education systems, leading to inequities in educational resources. Furthermore, stipulations on financial accountability and operational transparency for educational assistance organizations will be pivotal in addressing concerns over fund mismanagement, which could influence the broader debates on educational reform in the state.