HB 1918 Summary

• Amends 68 O.S. 2011, Section 2358 to allow a deduction from Oklahoma taxable income for penalties imposed by the federal government under the Patient Protection and Affordable Care Act (ACA).

• Permits for-profit business entities to deduct penalties or fines paid to federal agencies resulting from a business judgment decision not to offer or delay offering employee health insurance coverage that includes contraceptives, sterilization, and abortifacients.

• Prohibits the deduction for businesses that fail to offer any health care plan and are fined for such violation under federal law.

• Effective January 1, 2014.