SB 1714 Summary

• Amends the Oklahoma Equal Opportunity Education Scholarship Act (68 O.S. 2011, Section 2357.206) to modify income tax credit allocation procedures

• Changes credit allocation method from proportionate share calculation to first-come, first-served basis for contributions made on or after January 1, 2013

• Maintains separate tax credit caps: $1.75 million for scholarship-granting organizations (split between individual and business taxpayers) and $1.5 million for educational improvement grant organizations

• Allows unused tax credits to carry forward for up to three years following the year of qualification

• Becomes effective November 1, 2012