Oklahoma 2022 Regular Session

Oklahoma House Bill HB2083 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	ENGR. H. B. NO. 2083 Page 1 1
	3	+	HB2083 HFLR Page 1
	4	+	BOLD FACE denotes Committee Amendments. 1
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28		-	ENGROSSED HOUSE
29		-	BILL NO. 2083 By: McCall, O'Donnell, Wallace,
30		-	Davis, Lowe (Dick), Osbu rn,
31		-	Marti, McDugle, Sneed,
32		-	Dempsey, Sims, Bashore,
33		-	Williams, Russ, Hill and
34		-	Dills of the House
	29	+	HOUSE OF REPRESENTATIVES - FLOOR VERSION
35	30
36		-	~~and~~
	31	+	STATE OF OKLAHOMA
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38		-	Daniels of the Senate
	33	+	1st Session of the 58th Legislature (2021)
	34	+
	35	+	COMMITTEE SUBSTITUTE
	36	+	FOR
	37	+	HOUSE BILL NO. 2083 By: McCall, O'Donnell and
	38	+	Wallace
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	45	+	COMMITTEE SUBSTITUTE
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44	47		An Act relating to revenue and taxation; pro viding
45	48		for deduction from taxable income computed pursuant
46	49		to Oklahoma Income Tax Code; specifying amount of
47	50		deduction; specifying taxable years for which
48	51		deduction is authorized; stating legislative intent
49	52		with respect to corporate income tax revenue;
50	53		providing for noncodification; providing for
51	54		codification; and providing an effective date.
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56	61		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
57	62		SECTION 1. NEW LAW A new section of law to be codified
58	63		in the Oklahoma Statutes as Section 2358.101 of Title 68, unless
59	64		there is created a duplication in numbering, reads as follows:
60	65		For taxable years beginning on or after January 1, 2022, there
61	66		shall be allowed as a deduction from the Oklahoma taxable income
62	67		amount computed pursuant to Section 2358 of Title 68 of the Oklahoma
63	68		Statutes or from the amount of income subject to the levy of tax
64		-	imposed pursuant to Section 2370 of Title 68 of the Oklahoma
65		-	Statutes for any corporation subject to the levy of income tax
66	69
67		-	ENGR. H. B. NO. 2083 Page 2 1
	70	+	HB2083 HFLR Page 2
	71	+	BOLD FACE denotes Committee Amendments. 1
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	96	+	imposed pursuant to Section 2370 of Title 68 of the Oklahoma
	97	+	Statutes for any corporation subject to the levy of income tax
92	98		imposed pursuant to subsec tion E or F of Section 2355 of Title 68 of
93	99		the Oklahoma Statutes in the following amounts:
94	100		1. Twenty percent (20%) of the total Oklahoma taxable income
95	101		amount for a taxable year beginning after December 31, 2021, and
96	102		before January 1, 2023;
97	103		2. Forty percent (40%) of the total Oklahoma taxable income
98	104		amount for a taxable year beginning after December 31, 2022, and
99	105		before January 1, 2024;
100	106		3. Sixty percent (60%) of the total Oklahoma taxable income
101	107		amount for a taxable year beginning after December 31, 2023 , and
102	108		before January 1, 2025;
103	109		4. Eighty percent (80%) of the total Oklahoma taxable income
104	110		amount for a taxable year beginning after December 31, 2024, and
105	111		before January 1, 2026; and
106	112		5. One hundred percent (100%) of the total Oklahoma taxable
107	113		income amount for any taxable year beginning on or after January 1,
108	114		2026.
109	115		SECTION 2. NEW LAW A new section of law not to be
110	116		codified in the Oklahoma Statutes reads as follows:
111	117		It is the intent of the Legislature to make modifications to
112	118		offset potential revenue losses, should they occur, reasonably
113	119		attributable to the reduction of Oklahoma taxable income amounts for
114		-	corporations provided by Section 1 of this act and to provide a
115		-	system to ensure that revenues apportioned to the Education Reform
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117		-	ENGR. H. B. NO. 2083 Page 3 1
	121	+	HB2083 HFLR Page 3
	122	+	BOLD FACE denotes Committee Amendments. 1
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	147	+	corporations provided by Section 1 of this act and to provide a
	148	+	system to ensure that revenues apportioned to the Education Refor m
142	149		Revolving Fund, the Teachers' Retirement System, and the Ad Valorem
143	150		Reimbursement Fund are not adversely affected.
144	151		SECTION 3. This act shall become effective January 1, 2022.
145		-	Passed the House of Representatives the 11th day of March, 2021.
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150		-	Presiding Officer of the House
151		-	of Representatives
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154		-	Passed the Senate the ___ day of __________, 2021.
155		-
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159		-	Presiding Officer of the Senate
	153	+	COMMITTEE REPORT BY: COMMITTEE ON RULES, dated 03/01/2021 - DO PASS,
	154	+	As Amended and Coauthored.