Bill > SB256

This bill introduces a new income tax credit program in Oklahoma to support child care for employees and child care workers from 2026 to 2030. The bill defines key terms like "child" (under 5 years old), "child care expense", and "qualified child care worker" (employed at least 8 consecutive months, performs classroom services at a licensed facility, enrolled in Oklahoma's Professional Development Ladder, and has earned at least 12 credit hours). Employers can claim a 30% tax credit for various child care-related expenditures, including employee child care expenses, operating child care facilities for employees' dependents, or contracting with child care facilities. The bill also provides a refundable $1,000 tax credit for qualified child care workers. There are annual credit limits: a maximum of $30,000 per employer per tax year, and an overall annual credit cap that starts at $5 million in 2028 and increases to $14 million in subsequent years. If an employer's credit exceeds their tax liability, they can carry the unused credit forward for up to five subsequent tax years. The bill is set to become effective on November 1, 2025, and aims to incentivize employers to support child care and help child care workers through tax benefits.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb256&Session=2600