OK SB745

Permanently eliminates several income tax credits that had been temporarily suspended, including credits for contributions to the Energy Conservation Assistance Fund, investments in space industry facilities, employer child care expenses, child care provider expenses, immunization expenses, energy-efficient residential construction, poultry litter purchases, and specially trained canine breeding.

Limits the deduction for dividends and interest income from Oklahoma financial institutions to tax years beginning before January 1, 2012.

Limits the deduction for political contributions to tax years beginning before January 1, 2012, capping the annual deduction at $100.

Eliminates provisions that allowed certain tax credits and deductions to resume on July 1, 2012, making the suspensions permanent instead.

Effective date of November 1, 2011.