Bill > SB1016

This bill modifies the Oklahoma Parental Choice Tax Credit Act by adding new verification and reporting requirements for the tax credit program that supports educational expenses for private school and homeschool students. Specifically, the bill requires the Department of Human Services and the Oklahoma Health Care Authority to verify claims about income-based government benefits (like SNAP or TANF) when requested by the Oklahoma Tax Commission. Additionally, participating private schools will now be required to electronically submit student enrollment and tuition information to the Tax Commission by June 15th each year. The bill maintains the existing tax credit structure, which allows parents, grandparents, and guardians to claim credits for private school tuition and other educational expenses, with credit amounts ranging from $5,000 to $7,500 depending on family income. The total annual credits remain capped at $150 million for 2024, $100 million for the first half of 2025, and $250 million for fiscal year 2026 and beyond. The new provisions aim to enhance oversight and transparency in the administration of the tax credit program by ensuring more rigorous documentation and verification of applicant claims.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1016&Session=2600