OK SB1389

Increases the annual cap on private school tuition tax credits from $250 million to $275 million starting in fiscal year 2027 and subsequent years

Maintains existing income-based credit structure ranging from $5,000 to $7,500 per student for accredited private school tuition, with higher credits for lower-income families

Continues $1,000 maximum credit for homeschool qualified expenses including tutoring, curriculum, textbooks, and standardized testing fees, with a $5 million annual program cap

Requires private schools participating as of April 15, 2025 to meet accreditation requirements by March 1, 2027

Declared an emergency measure, taking effect immediately upon passage and approval