SB 684 Summary

• Excludes the Oklahoma Parental Choice Tax Credit from the publicly searchable list of taxpayers claiming state tax credits maintained by the Oklahoma Tax Commission.

• Increases the annual credit limitation for private school tuition from $150 million (tax year 2024) to $250 million (fiscal year 2026 and subsequent years), with unused credits carried forward to subsequent fiscal years.

• Modifies the application period for the credit to open March 15 through June 15 each year (beginning 2026-2027 school year) and requires full credit payments in two installments by August 30 and January 15.

• Establishes a priority system giving first preference to taxpayers earning under $150,000 or those who received the credit in prior years, with second preference for other returning participants.

• Requires participating private schools to provide enrollment and tuition information to the Oklahoma Tax Commission by June 15 each year, with schools having until March 1, 2027, to achieve accreditation compliance.