SB2059

Oklahoma SB2059 creates the Promote Child Thriving Act, offering an income tax credit for married biological parents raising children.

Oklahoma SB2059, the Promote Child Thriving Act, establishes an income tax credit for married biological parents raising children. The credit amounts to $500 for each child under 18 years old residing in the parents' home. To qualify, the parents must be married for the entire tax year, reside together for at least six months, and claim the credit on a form prescribed by the Oklahoma Tax Commission. The credit is non-refundable and can be carried forward for up to ten years if unused.