Friday, February 11, 2011

Is Grisamore Going To Support This Bill?

Is Grisamore going to support to support this bill?  He claims to be the champion for children with disabilities and he doesn't support crucial bills for families that are affected by disabilities.  This bill is so important to our families.  The last time that this bill was proposed I asked Grisamore why he didn't support it and he said that it was not politically prudent. 

HB 362


Establishes Bryce's Law which authorizes a tax credit for a person donating to a scholarship-granting organization for special needs students if it is not claimed on his or her federal income tax return
 
HB 362 -- Bryce's Law




Sponsor: Scharnhorst



This bill establishes Bryce's Law which authorizes, beginning
January 1, 2011, a tax credit for an individual who donates to a
scholarship-granting organization if the donation is not claimed
on the taxpayer's federal income tax return. The tax credit may
be taken against income tax, corporate franchise tax, insurance
premium tax, financial institutions tax, and express company tax
liability. The credit will be for 80% of the amount of the
contribution but cannot exceed 50% of the taxpayer's state tax
liability, up to $800,000 per year, and is nonrefundable but may
be carried forward for four years or transferred or sold for
between 75% and 100% of its par value. The Director of the
Department of Economic Development must determine, at least
annually, which organizations may be classified as scholarship-
granting organizations and the number of Missouri students with
an individualized education program (IEP).

Up to 10% of students with an IEP may receive a scholarship each
year. Scholarship-granting organizations must meet requirements
for fiscal soundness, percentage of revenues devoted to
educational scholarships, and public reporting. Private schools
qualify to accept scholarship students by meeting specified
requirements including employee background checks and providing
data as requested, among others. Scholarships may also be used
at an accredited public school outside the student's resident
school district. The bill specifies how scholarship checks will
be distributed.

The department must conduct a study to measure student
achievement, satisfaction with the program, and its fiscal impact
on the state and public schools and provide the General Assembly
with a final copy of the evaluation by December 31, 2014. The
department cannot use state funds for the study and may contract
with one or more qualified researchers who have previous
experience evaluating similar programs.

The provisions of the bill will expire December 31 six years from
the effective date.

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