SB969 - Oklahoma Equal Opportunity Education Scholarship Act

• Creates income tax credits for contributions to eligible scholarship-granting organizations (50% credit up to $1,000 for individuals, $2,000 for joint filers, $100,000 for business entities) with annual statewide caps of $1.75 million per category.

• Establishes income tax credits for contributions to educational improvement grant organizations (50% credit, or 75% if committing to 3-year contributions) with an annual statewide cap of $1.5 million.

• Requires scholarship-granting organizations to spend at least 90% of annual revenue on scholarships, maintain criminal background checks for employees, and allocate funds proportionally to low-income eligible students.

• Allows educational scholarships up to $5,000 or 80% of average per-pupil expenditure (whichever is greater) for eligible students, and up to $25,000 for eligible special needs students at qualified private schools.

• Prohibits tax credits for contributions to organizations that award less than 90% of available funds, delays credit claims until tax year 2013, and allows unused credits to carry forward up to three years.