OK SB1569

Amends Oklahoma income tax law to limit a child care and child tax credit for Armed Forces members and resident individuals to tax years beginning after December 31, 2007 and ending before January 1, 2016.

Allows a credit of either 20% of federal child care expenses credit or 5% of federal child tax credit, whichever is greater, against Oklahoma income tax.

Restricts the credit to taxpayers with federal adjusted gross income of $100,000 or less.

Requires the maximum child care credit to be prorated based on the ratio of Oklahoma adjusted gross income to federal adjusted gross income.

Becomes effective November 1, 2016.