Oklahoma 2022 Regular Session

Oklahoma House Bill HB2866 Compare Versions

Version 1 (Old)

Version 2 (New)

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1		-	An Act
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	29	+	SENATE FLOOR VERSION
	30	+	March 24, 2021
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3	34		BILL NO. 2866 By: Wallace, Lawson, Russ,
4	35		Blancett and Pae of the
5	36		House
6	37
7	38		and
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9	40		Thompson of the Senate
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14	47		An Act relating to revenue and taxation; amending 68
15	48		O.S. 2011, Section 2370.1, as last amended by Section
16	49		1, Chapter 131, O.S.L. 2018 (68 O.S. Supp. 2020,
17	50		Section 2370.1), which relates to credits against the
18	51		banking privilege tax; modifying time periods during
19	52		which certain credit may be claimed; and providing an
20	53		effective date.
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24		-	SUBJECT: Revenue and taxation
25		-
26	57		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLA HOMA:
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28	58		SECTION 1. AMENDATORY 68 O.S. 2011, Section 2370.1, as
29	59		last amended by Section 1, Chapter 131, O.S.L. 2018 (68 O.S. Supp.
30	60		2020, Section 2370.1), is amended to read as fol lows:
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32		-	Section 2370.1 A. There shall be allowed a credit against the
	61	+	Section 2370.1. A. There shall be allowed a cre dit against the
33	62		tax imposed by Section 2370 of this title for any state banking
34	63		association, national banking association and credit union organized
35	64		under the laws of this state for the amount of the g uaranty fee paid
36	65		by the banking association or credit u nion to the United States
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	67	+	SENATE FLOOR VERSION - HB2866 SFLR Page 2
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37	93		Small Business Administration pursuant to the "7(a)" loan guaranty
38	94		program.
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40	95		B. The credit authorized by this section may be claimed for
41	96		guaranty fees paid on or after January 1, 2000 2022, and before
42	97		January 1, 2022 2025.
43		-
44	98		C. No credit may be claimed pursuant to this section if,
45	99		pursuant to the agreement between the banking association or credit
46		-	union and the entity to which proceeds are made available, the ~~ENR. H. B. NO. 2866 Page 2~~
	100	+	union and the entity to which proceeds are made available, the
47	101		banking association or credit union adds the amount of the SBA 7(a)
48	102		loan guaranty fee to the amount financed by the borrower or in any
49	103		other way recovers the guaranty fee amount from the borrower.
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51	104		D. The credit authorized by this section may be claimed and if
52	105		not fully used in the initial year for which the credit is claimed
53	106		may be carried over, in order, to each of the five (5) succeeding
54	107		taxable years. The credit authorized by this section may not be
55	108		used to reduce the tax liability of the credit claimant below zero
56	109		(0).
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58	110		E. The Oklahoma Tax Commission shall prepare a report regarding
59	111		the amount of tax credits claimed as authorized by this section.
60	112		The report shall be submitted to the Speaker of the House of
61	113		Representatives and to the President Pro Tempore of the Senate n ot
62	114		later than March 31 of each year.
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64	115		F. Pursuant to Section 46A of Title 62 of the Oklahoma
65	116		Statutes, there shall be a measurable goal of retaining and/or
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66	144		creating two thousand jobs per year in Oklahoma for the credit
67	145		against the tax imposed by Section 23 70 of this title.
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69	146		SECTION 2. This act shall become effective January 1, 2022.
70		-	ENR. H. B. NO. 2866 Page 3
71		-	Passed the House of Representatives the 17th day of February,
72		-	2021.
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77		-	Presiding Officer of the House
78		-	of Representatives
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81		-	Passed the Senate the 15th day of April, 2021.
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86		-	Presiding Officer of the Senate
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88		-	OFFICE OF THE GOVERNOR
89		-	Received by the Office of the Governor this ____________________
90		-	day of ___________________, 20_______, at _______ o'clock _______ M.
91		-	By: _________________________________
92		-	Approved by the Governor of the State of Oklahoma this _________
93		-	day of ___________________, 20_______, at _______ o'clock _______ M.
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95		-
96		-	_________________________________
97		-	Governor of the State of Oklahoma
98		-
99		-	OFFICE OF THE SECRETARY OF STATE
100		-	Received by the Office of the Secretary o f State this __________
101		-	day of ___________________, 20_______, at _______ o'clock _______ M.
102		-	By: _________________________________
103		-
	147	+	COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS
	148	+	March 24, 2021 - DO PASS