OK SB1217

Modifies the income tax credit eligibility requirements under 68 O.S. 2011, Section 2357.4 for businesses that invest in qualified property or increase full-time-equivalent employment.

Changes the definition of qualifying employees for tax credit purposes from those earning at least $7,000 annually to those working an average of 30 or more hours per week as full-time-equivalent employees.

Replaces wage-based thresholds with hour-based employment standards, requiring employees to average at least 30 hours per week to be counted toward the tax credit calculation.

Maintains the four-year credit allowance period and carryover provisions but applies the new employment hour requirements as the determining factor for credit eligibility.

Becomes effective January 1, 2013.