MO HB841

Creates the "Foster Child Education Fund" to provide scholarships for children in state protective custody (for at least 12 of the last 36 months) to attend private K-12 schools in Missouri

Provides a 65% tax credit for cash donations to the fund, effective January 1, 2016, with individual contributions eligible between $100 and $50,000

Caps total tax credits at $5 million per fiscal year, with a maximum of $15 million in unredeemed credits outstanding at any time

Limits taxpayers to claiming no more than 50% of their state tax liability or $25,000 in credits per year, with unused credits carrying forward for three years

Scholarship amounts are capped at the lesser of: actual tuition/fees, 90% of the student's home district per-pupil expenditure, or the applicable interdistrict transfer tuition rate