Tax Credit Program

PURPOSE: This rule sets forth general information necessary to carry out the purpose of the enabling statute for the Missouri Empowerment Scholarship Accounts Tax Credit Program and provides for the annual adjustment and allocation of tax credits. (1) The Missouri Empowerment Scholarship Accounts Program Tax Credit Program encourages taxpayers to make qualifying contributions to educational assistance organizations (EAOs). The EAOs use the qualifying contributions to award scholarship accounts to qualifying students as required by statute. (2) The treasurer and/or department of revenue may promulgate rules as necessary or desirable to carry out the provisions of the Missouri Scholarship Accounts Program Tax Credit Program statute. The treasurer may adopt policies and operating procedures concerning its internal management of the Missouri Scholarship Accounts Program Tax Credit Program. (3) Annual Adjustment and Allocation of Tax Credits. (A) Annual adjustment. The treasurer shall adjust the cumulative amount of tax credits that may be allocated to all taxpayers contributing to educational assistance organizations as provided by statute. (B) Allocation of tax credits. At or near the beginning of the program year, the treasurer shall provide an initial allocation of tax credits to participating EAOs. During the program year, the treasurer may rebalance or reallocate any available tax credits. (4) Taxpayers may apply for a tax credit by visiting the treasurer’s official website and completing the online Application for Tax Credit Reservation for contributions to a participating educational assistance organization. Taxpayers may request to rescind all or part of a tax credit reservation. Procedures and forms for use in the administration and management of the program are subject to the approval of the treasurer or the treasurer’s designee. (5) Severability. If any provision of this rule, or the application of it to any person or circumstance, is determined to be invalid by a court of competent jurisdiction, such invalidity shall not affect other provisions of this rule which can be given effect without the invalid provision or application and, to that end, the provisions of this rule are severable. AUTHORITY: section 135.719, RSMo Supp. 2025.* Emergency rule filed April 11, 2022, effective April 25, 2022, expired July 30, 2022. Original rule filed Jan. 26, 2022, effective July 30, 2022. Amended: Filed Nov. 14, 2024, effective May 30, 2025. Rescinded and readopted: Filed June 16, 2025, effective Jan. 30, 2026. *Original authority: 135.719, RSMo 2021.