ENR. H. B. NO. 2308 - Summary

• Eliminates gas usage tax credit for manufacturing establishments and certain pollution control facility credits under Oklahoma income tax law

• Removes dividend/interest deduction for Oklahoma financial institutions, effective with amendments to Section 2358

• Repeals 19 separate tax credit provisions including credits for recycling activities, energy conservation, historic battle sites, child care services, ethanol/biodiesel facilities, tourism promotion, and electric motor vehicle manufacturing

• Repeals additional tax credits for research activity, Stafford loan fees, and commercial space industry activity to streamline Oklahoma's tax incentive structure

• Effective date: January 1, 2014