Loading chat...
OK SB1395
Bill
AI Summary
- Limits the manufacturing investment tax credit for net increases in full-time-equivalent employees to tax years 1988 through 2026, after which new credits for job creation in manufacturing operations cannot be claimed
- Restricts carryforward of unused tax credits from tax year 2026 and previous years to seven subsequent tax years, replacing the previous unlimited carryforward provisions
- Requires entities to submit an application and receive Oklahoma Tax Commission approval before claiming the tax credit for tax year 2027 and subsequent years
- Mandates applicants report NAICS industry code, amounts of carried forward credits, average wage of new jobs created, and investment categories (new facility, expansion, upgrades, equipment replacement)
- Requires the Oklahoma Tax Commission to share collected data with the Incentive Evaluation Commission for evaluation purposes; effective date November 1, 2026
Legislative Description
Income tax credit; limiting new jobs tax credit to certain tax years for manufacturers; modifying carryforward. Effective date.
Last Action
First Reading
2/17/2026
Committee Referrals
Appropriations2/9/2026
Revenue and Taxation2/3/2026
Full Bill Text
No bill text available