MO SB1121

Establishes the "Higher Education Academic Scholarship Program" for Missouri residents scoring in the top 5% on ACT/SAT to attend any Missouri college or university, with awards up to $3,000/year for top 3% and $1,000/year for 4th-5th percentiles

Beginning in the 2027-28 academic year, expands scholarships to cover full in-state tuition for the first four semesters, with renewal students in eligible programs able to receive up to six additional semesters of full tuition coverage

Creates the "Missouri Higher Education Funding Policy Prioritization Act" requiring the Department of Higher Education and Workforce Development to develop a new funding model for public colleges aligned with state workforce needs

Funding model must be based on a 2023 commissioned study, include cost-based approaches recognizing institutional missions, and incorporate performance components for student success and operational efficiency

Requires the funding model plan be submitted by August 31, 2026, approved by the Coordinating Board for Higher Education by November 1, 2026, and implemented for FY 2028-29 pending General Assembly approval by concurrent resolution