Oklahoma HB2019 amends aerospace industry tax credits, extending them until 2032.
Oklahoma HB2019 amends the state's aerospace industry tax credit program. It extends the credit for tuition reimbursement to qualified employees until 2032. It also extends the credit for compensation paid to employees until 2032. The credit for tuition reimbursement is capped at $5,000 per tax year for up to five years. The credit for compensation is 10% for the first five years if the employee graduated from an in-state institution, and 5% if they graduated from an out-of-state institution. The credit for compensation is capped at $12,500 per employee annually.
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