Bill > HB1201

This bill creates a new tax credit program for contributions to pregnancy resource centers and other qualifying centers in Oklahoma, allowing taxpayers to claim a credit equal to 70% of their donation, up to $50,000 per year, for contributions of at least $100. These centers must provide various support services for pregnant women and families, such as housing, counseling, medical care, and parenting resources, without performing or referring for abortions. The Director of the State Department of Health will determine which facilities qualify as pregnancy resource centers or other qualifying centers, and facilities must provide the director with information about taxpayer contributions. To manage the program's fiscal impact, the total annual tax credits will be capped at $5 million, with the Oklahoma Tax Commission calculating and publishing an annual percentage adjustment if credits exceed this limit. The tax credit will be available for taxable years beginning after December 31, 2025, and not later than January 1, 2031, with the goal of supporting organizations that assist women during pregnancy and early parenthood.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1201&Session=2600