Bill > SB104

This bill introduces a new tax credit program in Oklahoma aimed at supporting child care expenses and child care workers from tax years 2026 through 2030. The bill defines key terms such as "child" (under 5 years old), "child care expense" (tuition for licensed child care services), and "qualified child care worker" (an employee working at least 8 consecutive months in a licensed child care facility who is enrolled in the Professional Development Ladder and has earned at least 12 credit hours). Employers can receive a 30% tax credit for various child care-related expenditures, including employee child care expenses, operating child care facilities for employees, or contracting with child care facilities. A separate refundable tax credit of $1,000 is available for qualified child care workers. The bill caps the employer tax credit at $30,000 per year and establishes annual credit limits of $5 million in 2028 and $14 million in subsequent years. If an employer cannot use the full credit in a given year, they can carry forward the unused amount for up to five subsequent tax years. The Oklahoma Tax Commission will be responsible for calculating and adjusting credit percentages to ensure the annual limits are not exceeded. The bill will become effective on November 1, 2025.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb104&Session=2600