OK HB1558

Extends the 100% income tax deduction for military pay for active service members beyond its original expiration date, making the provision permanent rather than contingent on revenue growth

Removes the contingency mechanism that previously required the State Board of Equalization to determine if revenue collections exceeded revenue reductions before allowing the 100% deduction to continue

Repeals Section 2355.1D of Title 68 O.S. Supp. 2010, which contained the revenue growth contingency for the military pay tax benefit

Effective date is January 1, 2012, ensuring continuous tax relief for military service members without interruption or conditional limitations