Oklahoma HB2410 amends the Oklahoma Affordable Housing Act to increase tax credits and make them nonrefundable.
Oklahoma HB2410 amends the Oklahoma Affordable Housing Act to increase the amount of tax credits and make them nonrefundable. The bill also specifies that the credits cannot reduce tax liability below zero and allows unused credits to be carried forward for two subsequent taxable years. The credits are subject to a limit of $10 million until December 31, 2029, and $4 million until December 31, 2035. The act will undergo a review every five years by a committee appointed by the Governor, President Pro Tempore of the Senate, and Speaker of the House of Representatives.
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