OK SB120

Provides an income tax exemption for physicians and osteopaths licensed under Oklahoma's Allopathic Medical and Surgical Licensure Act or Osteopathic Medicine Act.

Exemption applies to income earned while employed or serving as a primary care physician when initial employment begins on or after the bill's effective date.

Exemption limited to physicians employed or serving in Oklahoma municipalities with populations under 20,000 that are located outside Metropolitan Statistical Areas with populations of 800,000 or greater.

Exemption period runs from January 1, 2012 through December 31, 2015.

Bill becomes effective January 1, 2012.