Bill > SB1776

This bill establishes a new income tax credit for teachers in Oklahoma, beginning with the 2027 tax year, offering a $10,000 credit to individuals who are certified to teach and have started their eighth consecutive year of teaching for a public school district in the state. To remain eligible for this credit, teachers must continue teaching in the same district for the remainder of that eighth year and for three additional consecutive years, although exceptions are made for situations like school district reductions in force, death, or documented medical hardship. The Oklahoma Tax Commission is authorized to audit taxpayers to confirm their eligibility and will recapture the credit if a taxpayer is found to be ineligible, and importantly, any credit amount that exceeds the teacher's tax liability will be refunded to them.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1776&Session=2600