SB 1152 Summary

• Amends 68 O.S. 2011, Section 2357.47 to limit the time period for claiming income tax credits for certain employer expenses related to injured workers.

• Restricts the credit for eligible wages paid to injured workers to tax years beginning after December 31, 2005 and ending before January 1, 2015.

• Restricts the credit for eligible modification expenses (workplace modifications, tools, or equipment) to tax years beginning after December 31, 2005 and ending before January 1, 2017.

• Maintains existing credit amounts: 10% of gross wages up to $5,000 per employee and 50% of modification expenses up to $1,000 per employee, with annual taxpayer limits of $25,000 and $10,000 respectively.

• Becomes effective November 1, 2014.