HB 2366 Summary

• Creates an income tax credit of up to $5,000 per tax year for qualified employees in Oklahoma's biomanufacturing sector, claimable for a lifetime maximum of five years beginning in tax years after December 31, 2025.

• Qualified employees must be hired or contracted on or after January 1, 2026, and have either earned an undergraduate or graduate degree from an ABET-accredited engineering program or be licensed as a Professional Engineer by the State Board of Licensure.

• Credit may be claimed in nonconsecutive tax years and cannot reduce tax liability below zero, with unused credits carrying over to the next five subsequent tax years.

• Defines biomanufacturing sector to include manufacture of biopharmaceuticals, medical devices, diagnostics, industrial biotechnology, tissue engineering, synthetic biology, and related services and education.

• Becomes effective November 1, 2025.