Oklahoma 2022 Regular Session

Oklahoma House Bill HB3351 Compare Versions

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Version 2 (New)

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3		-	SENATE FLOOR VERSION - HB3351 SFLR Page 1
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	3	+	ENGR. H. B. NO. 3351 Page 1 1
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29		-	SENATE FLOOR VERSION
30		-	April 13, 2022
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33	28		ENGROSSED HOUSE
34	29		BILL NO. 3351 By: McCall, McBride and
35	30		Crosswhite Hader of the
36	31		House
37	32
38	33		and
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40	35		Pugh of the Senate
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45		-	[ revenue and taxation - credit for parent donations
46		-	to teachers - credit amount per child - codification
47		-	- effective date ]
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	41	+
	42	+	An Act relating to revenue and taxation ; defining
	43	+	terms; creating tax credit for parent donations to
	44	+	teachers; limiting credit amount per child; limiting
	45	+	application of credit; authorizing carryover; setting
	46	+	total annual credits cap; authorizing Oklahoma Tax
	47	+	Commission to promulgate rules; providing for
	48	+	codification; and providing an effe ctive date.
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51	56		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
52	57		SECTION 1. NEW LAW A new sec tion of law to be codified
53	58		in the Oklahoma Statutes as Section 2357.501 of Title 68, unless
54	59		there is created a duplication in numbe ring, reads as follows:
55	60		A. As used in this section:
56	61		1. "Child" means a person under eighteen (18) years of age who
57	62		is enrolled part-time or full-time at a public preschool or a public
58	63		elementary or secondary school which is primarily used for classroom
59	64		instruction;
60		-	2. "Classroom teacher" means a person employed by a school
61		-	district to teach students specifically identified c lasses for
62		-	specifically identified subjects during the course of a semester,
63		-	and who holds a valid certifi cate or license issued by and in
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65		-	SENATE FLOOR VERSION - HB3351 SFLR Page 2
66		-	(Bold face denotes Committee Amendments) 1
	66	+	ENGR. H. B. NO. 3351 Page 2 1
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	91	+	2. "Classroom teacher" means a person employed by a school
	92	+	district to teach students specifically identified c lasses for
	93	+	specifically identified subjects during the course of a semester,
	94	+	and who holds a valid certificate or license issued by and in
91	95		accordance with the rules a nd regulations of the State Board of
92	96		Education; and
93	97		3. "Parent" means the natural or adoptive parent or legal
94	98		guardian of a child.
95	99		B. For taxable years beginning after December 31, 2022, there
96	100		shall be allowed a credit a gainst the tax imposed pursuant to
97	101		Section 2355 of Title 68 of the Oklahoma Statutes in the amount of
98	102		one hundred percent (1 00%) of the total amount of monetary donations
99	103		made by a parent directly to his or her child's classroom teacher
100	104		during a taxable year.
101	105		C. The credit authorized purs uant to this section shall not
102	106		exceed One Thousand Dollars ($1,000.00) per child per taxable year.
103	107		D. The credit authorized p ursuant to this section may not be
104	108		used to reduce the tax liability of the taxpayer to less than zero
105	109		(0).
106	110		E. To the extent not used, the credit authorized by this
107	111		section may be carried over, in order, to each of the th ree (3)
108	112		subsequent taxable years.
109	113		F. The total credits authorized pursuant to this section for
110	114		all taxpayers shall not exceed Five Million Dollars ($5,000,000.00)
111		-	annually. In the event the total tax credits authorized by this
112		-	section exceed Five Million Dollars ($5,000,000.00) in any calendar
113		-	year, the Tax Commission shall permit any excess over Five Milli on
114		-	Dollars ($5,000,000.00), but shall factor such excess int o the
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116		-	SENATE FLOOR VERSION - HB3351 SFLR Page 3
117		-	(Bold face denotes Committee Amendments) 1
	116	+	ENGR. H. B. NO. 3351 Page 3 1
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	141	+	annually. In the event the total tax credits authorized by this
	142	+	section exceed Five Million Dollars ($5,000,000.00) in any calendar
	143	+	year, the Tax Commission shall permit any excess over Five Million
	144	+	Dollars ($5,000,000.00) , but shall factor such excess int o the
142	145		percentage adjustment formula for subsequent years. The Tax
143	146		Commission shall annuall y calculate and publish by the first day of
144	147		the affected year a percentage by which the credits authorized by
145	148		this section shall be reduced so the total amount of cr edits used to
146	149		offset tax does not exceed Five Million Dollars ($5,000,000.00) per
147	150		year. The formula to be used for the percentage adjustment shall be
148	151		Five Million Dollars ($5,000,000.00) divided by the credits claimed
149	152		in the second preceding year.
150	153		G. In consultation with the State Department of Education, the
151	154		Oklahoma Tax Commission shall prom ulgate rules necessary to
152	155		implement and administer the credit authorized in this section . The
153	156		rules shall include a process for a parent to anonymously make
154	157		monetary donations to his or her child's classroom teacher .
155	158		SECTION 2. This act shall become effective January 1, 2023.
156		-	COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS
157		-	April 13, 2022 - DO PASS
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	186	+	Passed the House of Representatives the 9th day of March, 2022.
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	191	+	Presiding Officer of the House
	192	+	of Representatives
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	195	+	Passed the Senate the ___ day of __________, 2022.
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	200	+	Presiding Officer of the Senate
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