MO HB2146

Establishes a tax credit against Missouri income tax (chapter 143) for parents or guardians of dependents in kindergarten through grade 12 who are home schooled or attend private or parochial schools in Missouri, effective for taxable years beginning January 1, 2010.

Tax credit amount capped at $1,000 per dependent, or $2,000 per dependent with diagnosed special emotional and physical needs including autism.

Tax credit cannot exceed the taxpayer's state tax liability for the year claimed, is not refundable, and cannot be carried back or forward to other tax years; credits issued on a first-come, first-served basis.

Credits may be assigned, transferred, sold, or conveyed for no less than 90% of the credit amount with notarized endorsement filed with the Department of Revenue.

Program automatically sunsets December 31, six years after the effective date unless reauthorized by the General Assembly; Department of Revenue may promulgate implementation rules.