Oklahoma Parental Choice Tax Credit Act modifies tax credit enforcement and limits.
The Oklahoma Parental Choice Tax Credit Act revises the enforcement of annual credit limits for the Oklahoma Parental Choice Tax Credit Program. It modifies the tax years for which certain annual credit limits are enforced and prescribes the procedure for enforcement. The Oklahoma Tax Commission is responsible for calculating and publishing a percentage by which the credits shall be reduced to ensure the total amount of credits authorized does not exceed specified limits. The Commission must also provide notification of approval status to applicants within thirty days of application closure.
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