OK HB3704

Oklahoma elects to participate in the federal income tax credit program for individual contributions to Scholarship Granting Organizations under Section 25F of the Internal Revenue Code, as established by Pub. L. No. 119-21

Governor is directed to execute all certifications and agreements required by the U.S. Department of the Treasury for Oklahoma to qualify as a "covered state" under the federal program

Oklahoma Tax Commission is designated as the responsible agency for identifying, registering, and maintaining a list of qualifying Scholarship Granting Organizations to submit to the Secretary of the Treasury

State agencies are prohibited from promulgating rules or regulations that exceed federal requirements when implementing this act

Election remains in effect for all tax years permitted by federal law unless repealed by the Legislature or terminated by federal law changes; effective date is November 1, 2026