OK SB740

Creates the "Oklahoma Stay-at-Home Parent Tax Relief Act" establishing a nonrefundable income tax credit for stay-at-home parents providing full-time care for qualifying children at their residence.

Provides a $100 credit per qualifying child for eligible stay-at-home parents who claim the child as a dependent on their Oklahoma tax return.

Limits eligibility to parents with federal adjusted gross income not exceeding $100,000 and whose qualifying child is no more than 24 months of age on the last day of the taxable year.

Defines "parent" to include biological parents, stepparents, legal adoptive parents, and legal guardians of the qualifying child.

Becomes effective January 1, 2016.