SB 517 Summary

• Limits the availability of multiple tax credits and exemptions to before January 1, 2014, including credits for hazardous waste recycling, manufacturing gas use, child care services, coal mining, and historic rehabilitation

• Extends several expiring tax credits through 2013 that were previously set to expire July 1, 2012, including provisions for small business guaranty fees, energy conservation, and film/music investments

• Modifies provisions for Armed Forces military pay deductions, bank privilege tax credits, sales tax relief eligibility, and high-tech employee hiring credits by establishing January 1, 2014 as a sunset date

• Changes political contribution deductions to expire before January 1, 2014, and adjusts dividend exclusions on Oklahoma financial institution savings accounts to terminate by the same date

• Effective date: November 1, 2011