OK SB1916

Amends 68 O.S. 2011, Section 2357.206, relating to the Oklahoma Equal Opportunity Education Scholarship Act

Changes tax credit allocation from proportional share method to first-come, first-served basis for taxable years beginning January 1, 2015 and later

Eliminates previous requirements for calculating proportional allocation when credits exceed caps; maintains existing annual credit caps of $1.75 million for scholarship-granting organizations and $1.5 million for educational improvement grant organizations

Requires Oklahoma Tax Commission to prescribe by rule a method for notifying organizations about allocation status relative to applicable caps

Effective January 1, 2015