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OK SB1266
Bill
AI Summary
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Amends 68 O.S. 2001, Section 2358.3 to limit the political contribution deduction to tax years occurring before January 1, 2011.
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Eliminates the ability to deduct contributions to political parties or candidate committees from adjusted gross income for tax years beginning on or after January 1, 2011.
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Maintains the existing $100 annual deduction limit for contributions made in tax years before the effective date.
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Becomes effective November 1, 2010.
Legislative Description
Revenue and taxation; relating to income tax; limiting time period during which a deduction may be claimed for a contribution to a political party or a candidate. Effective date.
Elections
Last Action
Failed in Committee - Finance
2/10/2010
Committee Referrals
Finance2/2/2010
Full Bill Text
No bill text available