HB3343

Oklahoma HB3343 establishes a tax deduction for foster care expenses and sets a minimum monthly payment for foster parents.

Oklahoma HB3343 allows a tax deduction for expenses incurred by taxpayers who provide care for foster children under contract with a child-placing agency. The deduction amount is $7,500 annually, with a pro rata share for periods less than six months. The bill also mandates a minimum monthly foster care maintenance payment of $1,000 per child for traditional foster parents, with the Director of the Department of Human Services reviewing and potentially increasing this amount annually. The new provisions are to be codified in the Oklahoma Statutes.