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OK HB2019

Bill

Official Source

Status

Engrossed

3/13/2025

Primary Sponsor

Daniel Pae

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Extends three aerospace industry tax credits from January 1, 2026 to January 1, 2032
  • Employer tuition reimbursement credit: 50% of tuition reimbursed to qualified aerospace employees for years 1-4 of employment, capped at 50% of average Oklahoma public institution tuition
  • Employer compensation credit: 10% of compensation for employees graduating from Oklahoma institutions, 5% for out-of-state graduates, for years 1-5 of employment, capped at $12,500 annually per employee
  • Employee credit: up to $5,000 per year for qualified aerospace employees, limited to 5 years during their lifetime, with 5-year carryover for unused credits
  • Effective date: November 1, 2025

Legislative Description

Revenue and taxation; income tax credit; aerospace industry; effective date.

Last Action

Placed on General Order

4/28/2025

Committee Referrals

Appropriations4/7/2025
Aeronautics and Transportation4/1/2025
Appropriations and Budget Transportation Subcommittee2/11/2025
Appropriations and Budget2/10/2025
Rules2/4/2025

Full Bill Text

No bill text available