OK SB1267

Establishes a moratorium on claiming most Oklahoma tax credits from July 1, 2010, through June 30, 2012, after which credits may be claimed again for qualifying events/transactions occurring on or after July 1, 2012.

Applies moratorium to 40+ different tax credit programs including credits for manufacturing investments, employee hiring, energy production, agricultural investments, child care expenses, historic rehabilitation, ethanol/biodiesel production, and research and development.

Declares the moratorium necessary for fiscal responsibility and compliance with Oklahoma Constitution Article X, Section 23 regarding state revenue limitations.

Exempts credits already earned and certified before the effective date; moratorium only applies to new credit claims for activities occurring on or after July 1, 2010.

Becomes effective July 1, 2010, with emergency clause allowing immediate implementation upon passage and approval.