OK SB1590

Establishes a moratorium on tax credits for qualified investments in qualified small business capital companies (Section 2357.62) and related investments (Section 2357.63) for investments made June 1, 2010 through December 31, 2011.

Establishes a separate moratorium on tax credits for qualified investments in qualified rural small business capital companies (Section 2357.73) and related investments (Section 2357.74) for the same time period (June 1, 2010 through December 31, 2011).

Extends the eligibility period for all four tax credit programs from January 1, 2012 to January 1, 2012, allowing credits to be claimed for taxable years beginning after December 31, 1997 and December 31, 2000 (depending on the program) through December 31, 2011.

Clarifies that investments made prior to the moratorium's effective date or during the moratorium period are ineligible for tax credits under these programs, except for qualified small business capital companies that had already invested in Oklahoma ventures before June 1, 2010.

Becomes effective June 1, 2010.