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OK SB920
Bill
Status
2/1/2016
Primary Sponsor
Josh Brecheen
Click for details
AI Summary
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Amends the Oklahoma Equal Opportunity Education Scholarship Act to add a sunset provision requiring legislative reauthorization after evaluation by the Incentive Evaluation Commission
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Tax credits for contributions to eligible scholarship-granting organizations capped at $3.5 million annually, with credits for educational improvement grant organizations capped at $1.5 million annually
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Individual taxpayers may claim 50% credit on contributions (up to $1,000 single/$2,000 married filing jointly), or 75% credit with a two-year commitment; business entities capped at $100,000
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Credits will not be allowed for contributions made on or after January 1, 2018, unless reauthorized by the Legislature
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Effective date of January 1, 2017
Legislative Description
Income tax credits; modifying time period during which credits may be claimed for donations to certain organizations. Effective date.
Last Action
coauthored by Coody (Jeff) (principal House author)
3/8/2016