OK HB2536

Extends the tax credit for SBA 7(a) loan guaranty fees paid by state and national banking associations and credit unions from January 1, 2017 to January 1, 2019

Credit equals the amount of guaranty fees paid to the U.S. Small Business Administration under the 7(a) loan program

Credit cannot be claimed if the banking institution passes the guaranty fee cost on to the borrower

Unused credits may be carried forward for up to five succeeding taxable years, but cannot reduce tax liability below zero

Establishes a measurable goal of retaining and/or creating 2,000 jobs per year in Oklahoma through this tax credit program