SB 1439 Summary

• Extends the income tax credit for eligible modification expenses from tax years ending before January 1, 2017 to tax years ending before January 1, 2018.

• Credits for eligible modification expenses equal 50% of funds expended for workplace modifications, tools, or equipment, with a maximum of $1,000 per employee and $10,000 per taxpayer per year.

• Eligible modification expenses apply only to workplace changes enabling injured workers covered under Title 85 (Workers' Compensation) to return to work with restricted duties before reaching maximum medical improvement.

• Requires the Oklahoma Legislature to reauthorize the eligible modification expenses credit after evaluation by the Incentive Evaluation Commission before January 1, 2018, or the credit automatically expires.

• Becomes effective November 1, 2016.