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Bill > SB815
OK SB815
OK SB815Income tax credit; requiring the Oklahoma Tax Commission to verify if certain credit has been claimed for motor vehicle. Effective date.
summary
Introduced
02/06/2023
02/06/2023
In Committee
02/07/2023
02/07/2023
Crossed Over
Passed
Dead
05/31/2024
05/31/2024
Introduced Session
2023 Regular Session
Bill Summary
An Act relating to income tax credit; amending 68 O.S. 2021, Section 2357.22, as amended by Section 1, Chapter 404, O.S.L. 2022 (68 O.S. Supp. 2022, Section 2357.22), which relates to one-time credit for investments in qualified clean-burning motor vehicle fuel property; requiring the Oklahoma Tax Commission to verify if certain credit has been claimed upon certain request; and providing an effective date.
AI Summary
This bill amends a section of Oklahoma's tax law related to a one-time income tax credit for investments in qualified clean-burning motor vehicle fuel property. The key provisions of the bill are:
1. It requires the Oklahoma Tax Commission to verify, upon request, whether a credit authorized under this section has been previously claimed for a specific vehicle.
2. It adjusts the annual limits on the total amount of tax credits that can be claimed under this section, including separate $10 million limits for credits related to compressed natural gas/liquefied natural gas/liquefied petroleum gas, hydrogen fuel cell electric vehicles, and electric vehicle charging systems.
3. The bill has an effective date of November 1, 2023.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Second Reading referred to Finance (on 02/07/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=sb815&Session=2400 |
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=sb815&Session=2300 |
| Fiscal Note/Analysis - Senate: SB815 INT FI | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20SUPPORT%20DOCUMENTS/impact%20statements/fiscal/Senate/SB815%20INT%20FI.PDF |
| Fiscal Note/Analysis - Senate: Introduced | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20SUPPORT%20DOCUMENTS/BILLSUM/Senate/SB815%20INT%20BILLSUM.PDF |
| BillText | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20INT/SB/SB815%20INT.PDF |
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