Loading chat...

OK HB1848

Bill

Official Source

Status

Engrossed

3/13/2025

Primary Sponsor

Suzanne Schreiber

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Creates a 30% income tax credit for employers who provide childcare assistance to employees, operate or contract to operate childcare facilities, or reserve childcare spots for employees
  • Limits the maximum credit per employer to $30,000 per taxable year
  • Caps total statewide credits at $5,000,000 per fiscal year
  • Allows unused credits to be carried forward for up to five succeeding tax years, but credits cannot reduce tax liability below zero
  • Effective January 1, 2026 through December 31, 2030, with provisions expiring January 1, 2031

Legislative Description

Revenue and taxation; income tax credit; childcare expenses; childcare services; definitions; effective date.

Last Action

Placed on General Order

4/28/2025

Committee Referrals

Appropriations4/8/2025
Economic Development, Workforce and Tourism4/1/2025
Appropriations and Budget Finance Subcommittee2/4/2025
Appropriations and Budget2/4/2025

Full Bill Text

No bill text available