Title XI, EDUCATION AND LIBRARIES

166.011. Public school fund — source — disposition. — A state public school fund is created which shall consist of all moneys, bonds, lands and other properties belonging to or donated to any state fund for public school purposes and the net proceeds of all sales of lands and oth…

166.021. Investment of capital of public school fund — securities deposited with state treasurer. — 1. All funds accruing to the state public school fund, except the interest on the fund, shall be invested by the state board of education in registered bonds of the United States o…

166.031. State treasurer to be custodian of fund — accounts — annual report. — 1. The state treasurer is the custodian of all bonds and securities in which the state public school fund is invested, and also of all moneys belonging to the state public school fund, and he and his s…

166.041. State board of education to keep account with treasurer — suits to recover money due. — 1. The state board of education shall keep a regular account with the state treasurer and all other persons in relation to the state public school fund. 2. The state board of educatio…

166.051. School moneys fund — interest from investments credited to. — All interest from the investment belonging to the state public school fund shall be paid into the state treasury and credited to the state school moneys fund, which is hereby created. All other funds for the s…

166.061. Gifts to public school fund. — Any person may grant, give or devise to the public school fund of the state any money, property, real or personal, choses in action of every kind and description. The property shall be turned over and delivered to the state director of reve…

166.071. Receipts for gifts to public school fund. — For any money, property or choses in action delivered to the director of revenue under sections 166.061 to 166.121 he shall give duplicate receipts, one of which shall be filed in the office of the commissioner of administratio…

166.081. Instrument of conveyance, when recorded. — A certified copy of the instrument of writing, evidencing the grant, gift or devise, shall also be delivered to the commissioner of administration and duly recorded by him in his office in a book to be kept specially for that pu…

166.091. Disposition of property granted. — The director of revenue shall, as early as practicable, dispose of the property granted, given or devised, according to the terms specified in the written instrument granting or giving the same to the public school fund. If the property…

166.101. Gift for public education which cannot be executed placed in public school fund on order of circuit court. — In all cases where a grant, devise or bequest or gift has been made by any person for educational purposes, in aid of or connected with the free public school sys…

166.111. Liability of director of revenue. — The director of revenue and his sureties shall be responsible on his official bond for the safekeeping of the property or money received under sections 166.061 to 166.121 while the property is in his possession and for its disposition …

166.121. State, the trustee. — The state of Missouri is hereby constituted the custodian and trustee under sections 166.061 to 166.121 of all such funds, and pledges itself for the safekeeping, investment and due application of all funds, with the interest thereon, which may be r…

166.131. County commission to administer county school fund — investments — distribution of income to schools. — The county commission in each county shall administer the county school fund of the county. In each county wherein the annual distribution of the liquidated capital of…

166.141. County treasurer to collect funds — receipts — penalty for violation. — The county treasurer shall collect and deposit in the county school fund all moneys payable to the fund and shall give the party paying duplicate receipts therefor. The party shall file one of the re…

166.151. Petition to distribute county school fund. — Whenever there is presented to the body having in its charge the capital of the county school fund of any county or the city of St. Louis a petition, signed by qualified electors of the county or the city of St. Louis equal in…

166.161. Election on proposal to distribute fund — annual apportionment of balance of fund — effect on state aid. — 1. The proposal shall be submitted to the voters of the county. 2. The question shall be submitted in substantially the following form: Shall there be an annual dis…

166.275. Appropriations to satisfy certain judgments transferred to school moneys fund — amount, distribution. — 1. Any amount of the difference by which the total amount appropriated by the state to school districts, in accordance with a judgment or order based on the equal prot…

166.300. Definitions — school building revolving fund created — lease purchases for projects, plan — eligibility for a lease purchase — ranking of projects — plan waived, when — repayment, interest — failure to make annual payments, state to take possession of buildings, procedur…

166.400. Citation of law. — Sections 166.400 to 166.455 shall be known and may be cited as the "Missouri Education Program". ­­-------- (L. 1998 H.B. 1694, A.L. 1999 S.B. 460, A.L. 2018 S.B. 882, A.L. 2021 H.B. 297)

166.410. Definitions. — As used in sections 166.400 to 166.455, except where the context clearly requires another interpretation, the following terms mean: (1) "Beneficiary", any individual designated by a participation agreement to benefit from payments for qualified education e…

166.415. Missouri education program, created, board, members, proxies, powers and duties, investments. — 1. There is hereby created the "Missouri Education Program". The program shall be administered by the Missouri education program board which shall consist of the Missouri stat…

166.420. Participation agreements, terms and conditions — contribution limitation — penalty. — 1. The board may enter into program participation agreements with participants on behalf of beneficiaries pursuant to the provisions of sections 166.400 to 166.455, including the follow…

166.421. Income tax refund, contribution to education savings account — election, how made. — 1. A participant may elect to contribute all or part of a refund of personal income tax to an account that has been established under sections 166.400 to 166.456 by direct deposit to the…

166.425. Board to invest funds, use of funds — not deemed income, when. — All money paid by a participant in connection with participation agreements shall be deposited as received and shall be promptly invested by the board. Contributions and earnings thereon accumulated on beha…

166.430. Cancellation of agreement, results — penalty. — Any participant may cancel a participation agreement at will. The board shall impose a penalty equal to or greater than ten percent of the earnings of an account for any distribution that is not: (1) Used exclusively for qu…

166.435. State tax exemption. — 1. Notwithstanding any law to the contrary, the assets of the program held by the board, the assets of any deposit program authorized in section 166.500, and the assets of any qualified tuition program established pursuant to Section 529 of the Int…

166.440. Assets not state property. — The assets of the program shall at all times be preserved, invested and expended only for the purposes set forth in this section and in accordance with the participation agreements, and no property rights therein shall exist in favor of the s…

166.445. Rules, invalid, when. — Any rule or portion of a rule, as that term is defined in section 536.010, that is promulgated under the authority delegated in sections 166.400 to 166.455 shall become effective only if it has been promulgated pursuant to the provisions of chapte…

166.450. Review of program. — The director of investment of the state treasurer's office shall, on a semiannual basis, review the financial status and investment policy of the program as well as the participation rate in the program. The director of investment shall also review t…

166.455. Funds not state revenues. — Money accruing to and deposited in individual savings accounts shall not be part of "total state revenues" as defined in Sections 17 and 18 of Article X of the Constitution of the State of Missouri and the expenditure of such revenues shall no…

166.456. Confidentiality of information. — All personally identifiable information concerning participants and beneficiaries of accounts established within the Missouri education program pursuant to sections 166.400 to 166.456 shall be confidential, and any disclosure of such inf…

166.500. Citation of law. — Sections 166.500 to 166.529 shall be known and may be cited as the "Missouri Higher Education Deposit Program". ­­-------- (L. 2004 H.B. 959)

166.501. Program established as alternative to Missouri education program. — Notwithstanding the provisions of sections 166.400 to 166.456 to the contrary, the higher education deposit program is established as a nonexclusive alternative to the Missouri education * program, and a…

166.502. Definitions. — As used in sections 166.500 to 166.529, except where the context clearly requires another interpretation, the following terms mean: (1) "Beneficiary", any individual designated by a participation agreement to benefit from payments for qualified higher educ…

166.505. Program created, Missouri education program board to administer, powers and duties — investment of funds. — 1. There is hereby created the "Missouri Higher Education Deposit Program". The program shall be administered by the Missouri education * program board. 2. In orde…

166.508. Deposit program participation agreements, terms and conditions — contribution limits — minimum holding time for contributions. — 1. The board may enter into deposit program participation agreements with participants on behalf of beneficiaries pursuant to the provisions o…

166.511. Prompt investment of moneys paid by participation agreements, use of moneys. — All money paid by a participant in connection with participation agreements shall be deposited as received and shall be promptly invested by the board or may be directly deposited by the board…

166.514. Cancellation of agreements, penalty. — Any participant may cancel a participation agreement at will. The board shall impose a penalty equal to or greater than ten percent of the earnings of an account for any distribution that is not: (1) Used exclusively for qualified h…

166.517. Assets used for program purposes only. — The assets of the deposit program shall at all times be preserved, invested, and expended only for the purposes set forth in this section and in accordance with the participation agreements, and no property rights therein shall ex…

166.520. Rulemaking authority. — Any rule or portion of a rule, as that term is defined in section 536.010, that is promulgated pursuant to sections 166.500 to 166.529 shall become effective only if it has been promulgated pursuant to the provisions of chapter 536. All rulemaking…

166.523. Review of program by state auditor, when. — The Missouri state auditor shall, on a semiannual basis, review the financial status and investment policy of the program as well as the participation rate in the program. The auditor shall also review the continued viability o…

166.526. Program moneys not part of total state revenues. — Money accruing to and deposited in individual deposit accounts shall not be part of total state revenues as defined in Sections 17 and 18, Article X, Constitution of Missouri, and the expenditure of such revenues shall n…

166.529. Confidentiality requirements. — All personally identifiable information concerning participants and beneficiaries of accounts established within the Missouri higher education deposit program pursuant to sections 166.500 to 166.529 shall be confidential, and any disclosur…

166.700. Definitions. — As used in sections 166.700 to 166.720, the following terms mean: (1) "Curriculum", a complete course of study for a particular content area or grade level, including any supplemental materials; (2) "District", the same meaning as used in section 160.011; …

166.705. Missouri empowerment scholarship account, written agreement, contents — renewal — withdrawal from program, effect of — moneys tax exempt to parents. — 1. A parent of a qualified student may establish a Missouri empowerment scholarship account for the student by entering …

166.710. Annual audits of accounts — disqualification from program, when — referral for misuse of money — rulemaking authority. — 1. Beginning in the 2023-24 school year and continuing thereafter, the state treasurer shall conduct or contract for annual audits, and may conduct or…

166.715. Misuse of moneys, penalty — financial institutions immunity from liability, when. — 1. A person commits a class A misdemeanor if the person is found to have knowingly used moneys granted under section 135.714 for purposes other than those provided for in sections 166.700…

166.720. Government control or supervision over qualified schools prohibited, when — qualified schools not agents of state — transfer of student, effect of. — 1. Sections 166.700 to 166.720 shall not be construed to permit any governmental agency to exercise control or supervisio…