OK SB977

Establishes the "Fiscal Responsibility Moratorium Act" imposing a two-year moratorium on claiming numerous Oklahoma tax credits from July 1, 2016 through June 30, 2018

Suspends credits including: child care expenses credit, manufacturing investment/job creation credits, Oklahoma-mined coal credits, zero-emission electricity facility credits, clean-burning motor vehicle fuel property credits, and historic rehabilitation credits

Temporarily halts credits for: child care providers meeting national accreditation standards, natural disaster property tax relief, earned income tax credit, energy-efficient home construction, aerospace employee compensation, and scholarship/educational improvement contributions

Suspends additional credits including: workers' compensation employer credits, railroad reconstruction credits, tuition reimbursement credits, affordable housing credits, volunteer firefighter credits, rural economic development loan credits, property tax relief for seniors/disabled, and sales tax relief

Credits accrued during the moratorium period cannot be claimed until after July 1, 2018, with certain exceptions for historic rehabilitation projects with contracts, financing, or work commenced before July 1, 2016