Bill > HB1469

This bill modifies the Oklahoma Parental Choice Tax Credit Act by expanding the Oklahoma Tax Commission's website reporting requirements, specifically mandating more detailed and disaggregated reporting of tax credits and educational expenses. The bill requires the Commission to publicly disclose monthly updates that now include total credit amounts claimed by individual private schools and homeschools, credits awarded across different income categories, credits for students transitioning from public schools, total denied applications, a breakdown of qualified expenses, and total tuition costs per school. The bill maintains the existing tax credit program that allows taxpayers (such as parents, grandparents, or guardians) to receive tax credits for educational expenses like private school tuition, tutoring, curriculum materials, and standardized assessment fees for eligible students. The tax credit amounts vary based on household income, ranging from $5,000 to $7,500 per student, with annual statewide credit limits of $150 million for 2024, $100 million for the first half of 2025, and $250 million for fiscal year 2026 and beyond. The bill will become effective on November 1, 2025, and aims to provide more transparency about the implementation of the Parental Choice Tax Credit Program.

Education

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1469&Session=2600