Bill > HB2260

This bill introduces tax credits for employers and employees in the civil engineering sector in Oklahoma, aimed at attracting and retaining talent in the field. The bill defines key terms such as "qualified employer" (businesses primarily engaged in civil engineering services), "qualified employee" (civil engineers new to the state or recently graduated), and "qualified program" (engineering degrees accredited by ABET). For taxable years between January 1, 2026, and January 1, 2031, qualified employers can receive tax credits of 50% for tuition reimbursement to new employees (up to four years of employment) and 10% or 5% of compensation paid to new civil engineering employees (depending on whether the employee graduated from an in-state or out-of-state institution), with an annual cap of $12,500 per employee. Additionally, qualified employees can receive a personal tax credit of up to $5,000 per year for five years. These credits cannot reduce tax liability to less than zero, and any unused credits can be carried forward to subsequent tax years. The bill is designed to incentivize civil engineering education, employment, and professional development in Oklahoma by providing financial benefits to both employers and employees in the sector.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2260&Session=2600