MO HB3037

Allows taxpayers to carry back tax credits to the immediately prior tax year for contributions made to educational assistance organizations on or after January 1, 2028

Maintains existing provisions allowing taxpayers to claim a 100% tax credit for contributions to educational assistance organizations, capped at 50% of state tax liability

Preserves the $75 million annual cap on total tax credits allocated to all taxpayers, with annual adjustments based on changes in state aid to school districts

Tax credits remain non-transferable, non-refundable, and cannot be sold or assigned; forward carry continues for up to four subsequent tax years