SB684

Oklahoma SB684 modifies the Oklahoma Parental Choice Tax Credit Act, adjusting the application period, enforcement of annual credit limits, and the.

Oklahoma SB684 amends the Oklahoma Parental Choice Tax Credit Act by modifying the application period for the tax credit, which now opens on May 15 and closes on July 15 prior to the beginning of each school year. It enforces an annual credit limit of $250 million for tax year 2024 and subsequent fiscal years. The bill also outlines a procedure for enforcing the annual credit limit, including the recapture of credits on a prorated basis if an audit shows a failure of revenue occurs.