SB 962 - This act provides a tax credit for individual and corporate contributions to organizations that provide educational scholarships to eligible students residing in St. Louis City, Kansas City, or the Wellston School District so they can attend qualified public and non-public schools of their parent's choice. The tax credit is equal to one hundred percent of the contribution. The credit is non-refundable but may be carried forward three years. No more than forty million dollars of tax credits may be allocated statewide for any one fiscal year.
If a student uses the scholarship to attend another public school such scholarship shall replace the state funding that would be owed for that student.
The Committee on Legislative Research will conduct a study on this program. The provisions of this act will sunset six years from the effective date if not reauthorized.