Loading chat...

OK SB1225

Bill

Official Source

Status

Introduced

2/3/2014

Primary Sponsor

Michael Mazzei

Click for details

Origin

Senate

2014 Regular Session

AI Summary

SB1225 Summary

  • Amends 36 O.S. 2011, Section 625.2 to update language and clarify tax credit references for insurance premium taxes

  • Caps total annual insurance premium tax credits at $20,000,000 per fiscal year beginning July 1, 2015

  • Requires the Oklahoma Department of Insurance to determine proportionate share percentages when total claimed credits exceed the $20 million cap

  • Does not apply the cap to credits earned prior to July 1, 2015

  • Becomes effective November 1, 2014

Legislative Description

Insurance premium taxes; limiting certain tax credits allowed and providing related procedures. Effective date.

Revenue and Taxation

Last Action

Title stricken

2/18/2014

Committee Referrals

Finance2/4/2014

Full Bill Text

No bill text available