OK HB4118

Amends Oklahoma's family caregiver tax credit to remove the age 62+ requirement for eligible family members, expanding eligibility to any qualifying dependent, spouse, parent, or blood/marriage relation who needs assistance with at least two activities of daily living

Increases income eligibility thresholds from $50,000 to $75,000 for individuals and from $100,000 to $150,000 for couples filing jointly

Adds mileage for driving eligible family members to medical appointments as an eligible expenditure, calculated at the IRS standard rate for medical expenses

Sets maximum credit at $3,000 (previously $2,000 standard with $3,000 only for veterans or dementia cases), with the credit equal to 50% of eligible caregiving expenditures

Caps total annual credits statewide at $1.5 million, with the Oklahoma Tax Commission authorized to adjust percentages if claims exceed the cap; effective November 1, 2026