Bill > HB2645

This bill establishes a new tax credit for medical doctors and osteopathic physicians working in rural areas of Oklahoma, beginning in tax year 2026. To qualify, a doctor must be licensed in the state, have graduated from an Oklahoma medical school or completed a residency in Oklahoma, and maintain a primary residence in the same county as their rural practice. A "rural area" is defined as a municipality or unincorporated location with a population under 25,000 and at least 25 miles from a larger municipality. The tax credit is capped at $20,000 per year and cannot reduce a taxpayer's tax liability below zero. A qualifying doctor can claim the credit for up to four subsequent tax years after first claiming it. Starting in tax year 2028, the total credits authorized will be limited to $1 million annually, with the Oklahoma Tax Commission calculating and publishing an annual percentage adjustment to ensure the total credits do not exceed this limit. The bill aims to incentivize medical professionals to practice in underserved rural areas of Oklahoma by providing a financial benefit through a state income tax credit.

Budget and Finance, Health and Social Services

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2645&Session=2600