SB 323 Summary

• Extends the expiration date for numerous Oklahoma income and premium tax credits from December 31, 2015, to January 1, 2016, allowing taxpayers to claim credits for tax years ending before that date.

• Modifies sunset provisions across multiple tax credit sections including hazardous waste recycling, manufacturing investment, child care, historic rehabilitation, renewable energy, and various business-related credits.

• Changes the timing mechanism for claiming credits from specific calendar date cutoffs (July 1, 2012) to a defined time period (July 1, 2010 through December 31, 2015) for events, transactions, and expenditures.

• Applies modifications to at least 30 different tax credit provisions in Oklahoma Statutes Titles 27A and 68, creating uniform expiration dates across various incentive programs.

• Becomes effective November 1, 2013.