SB 497 - This act creates the "Show Me Parental Choice Tax Credit Program," which will allow a tax credit against state tax liability for monetary contributions to Missouri non-profit corporations that provide scholarships to Kansas City or St. Louis students who qualify for the Federal Free & Reduced Price Lunch program. Such scholarships may be utilized for:

(1) Tuition or textbook expenses for, or transportation to, an eligible nonpublic school (i.e. private, religious, nonreligious, home or contract schools);

(2) Transportation expenses to a Missouri public school that is located outside the district in which the student resides;

(3) Tutorial scholarships for students who are enrolled in eligible public schools for tutorial assistance from a provider approved by the scholarship organization.

Further, this act creates, and allows a tax credit against state tax liability for monetary contributions to, the "Missouri Public School Improvement Fund", which shall be used for the payment of school improvement grants to public schools located in the St. Louis or Kansas City school district for educational program enhancements.

Also, this act creates, and allows a tax credit against state tax liability for monetary contributions to, the "Schools of Choice Resource Center Fund", which shall be distributed by the commissioner of education to one or more nonprofit organizations, selected by the commissioner, for the purpose of coordinating, staffing, and administering "Schools of Choice Resource Centers" in the Kansas City and St. Louis school districts in order to assist parents in learning how to be better education consumers, to provide information on education alternatives in the area, and to assist parents, schools, and school boards in implementing and responding to this program.

The cumulative amount of tax credits which may be granted each fiscal year for contributions to eligible nonprofit scholarship funding organizations shall not exceed five million dollars. Further, the cumulative amount of tax credits which may be granted each fiscal year for eligible contributions to the Missouri public school improvement fund and the schools of choice resource center fund shall not exceed five million dollars.
DONALD THALHUBER