SB 1980 Summary

• Amends the Taxpayer Transparency Act by requiring the Office of Management and Enterprise Services to add an interactive Oklahoma Taxpayer Receipt function to the state website by January 1, 2015.

• The Taxpayer Receipt function allows taxpayers to enter estimated income and sales tax paid to see an itemized breakdown of what percentage and dollar amount of their taxes fund various general categories of state spending.

• Requires tax credit recipients to file reports and returns claiming credits in electronic format as determined by the Oklahoma Tax Commission, with penalties for non-compliance.

• Mandates disclosure of all taxpayers or organizations in the chain of custody for any tax credits subject to public disclosure under the act.

• Effective date: November 1, 2014.