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STATE OF OKLAHOMA
1st Session of the 58th Legislature (2021)
SENATE BILL 893 By: Pugh
AS INTRODUCED
An Act relating to income tax; amending 68 O.S. 2011,
Section 2357.301, as amended by Se ction 1, Chapter
30, O.S.L. 2014 (68 O.S. Supp. 202 0, Section
2357.301), which relates to income tax credits;
modifying definition related to credits for aerospace
sector; and providing an effective date .
BE IT ENACTED BY THE PEOPLE OF THE STAT E OF OKLAHOMA:
SECTION 1. AMENDATORY 68 O.S. 2011, Section 2357.301, as
amended by Section 1, Chapter 30, O.S.L. 2014 (68 O.S. Supp. 2020,
Section 2357.301), is amended to read as follows:
Section 2357.301. As used in Sections 23 57.301 through 2357.304
of this title:
1. "Aerospace sector" means a private or public organization
engaged in the manufacture of aerospace or defense hardware or
software, aerospace maintenance, aerospac e repair and overhaul,
supply of parts to the aeros pace industry, provision of services and
support relating to the aerospace industry, research and development
of aerospace technology and systems, and the education and training
of aerospace personnel;
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2. "Compensation" means payments in the form of contr act labor
for which the payor is required to provid e a Form 1099 to the person
paid, wages subject to withholding tax paid to a part -time employee
or full-time employee, or salary or other remuneration.
Compensation shall not include employer -provided retirement, medical
or health-care benefits, reimburse ment for travel, meals, lodging or
any other expense;
3. "Institution" means an institution within The Oklahoma State
System of Higher Education or any o ther public or private college or
university that is accredited by a national accrediting body;
4. "Qualified employer" means a sole proprietor, general
partnership, limited partnership, limited liability company,
corporation, other legally recognized bus iness entity, or public
entity whose principal busi ness activity involves the aerospace
sector;
5. "Qualified employee" means any person, regardless of the
date of hire, employed in this state by or contracting in this state
with a qualified employer on o r after January 1, 2009, who has been
awarded an undergraduate or graduate degree from a qualified pro gram
by an institution, and who was not employed in the aerospace sector
in this state immediately preceding employment or contracting with a
qualified employer. Provided, the definition shall not be
interpreted to exclude any person who was employed in t he aerospace
sector, but not as a full -time engineer, prior to being awarded an
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undergraduate or graduate degree from a qualified program by an
institution or any person who has been awarded an undergradua te or
graduate degree from a qualified program by a n institution and is
employed by a professional staffing company and assigned to work in
the aerospace sector in this state;
6. "Qualified program" means a program at an institution that
includes a graduate or undergraduate program that has been
accredited by the Engineering Accreditation Commission of the
Accreditation Board for Engineering and Technology (ABET) and that
awards an undergraduate or graduate degree . Both the undergraduate
and graduate programs of the same discipline of engin eering at an
institution shall be part of the qualified program if either program
is ABET accredited; and
7. "Tuition" means the average annual amount paid by a
qualified employee f or enrollment and instruction in a qua lified
program. Tuition shall not include the cost of books, fees or room
and board.
SECTION 2. This act shall become effective November 1, 2021.
58-1-198 QD 1/21/2021 4:32:49 PM