OK
Oklahoma Senate Bill SB893

Oklahoma 2022 Regular Session

Oklahoma Senate Bill SB893 Compare Versions

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4-An Act
5-ENROLLED SENATE
6-BILL NO. 893 By: Pugh, Jett, Bergstrom and
7-Standridge of the Senate
28+ENGROSSED HOUSE AMENDME NTS
29+ TO
30+ENGROSSED SENATE BILL NO . 893 By: Pugh, Jett and Bergstrom of
31+the Senate
832
933 and
1034
11- Fetgatter, Rosecrants and
12-Fugate of the House
35+ Fetgatter and Rosecrants of
36+the House
37+
1338
1439
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1641
1742 An Act relating to income tax; amending 68 O.S. 2011,
1843 Section 2357.301, as amended by Section 1, Chapter
1944 30, O.S.L. 2014 (68 O.S. Supp. 2020, Section
2045 2357.301), which relates to income tax credits;
2146 modifying definitions related to credits for
2247 aerospace sector; and providing an effective date.
2348
2449
2550
2651
27-SUBJECT: Income tax credit
52+AMENDMENT NO. 1. Page 1, Lines 7 through 9 1/2, strik e the title to
53+read:
54+
55+
56+"[ income tax – credits for aerospace sector –
57+effective date ]"
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60+AMENDMENT NO. 2. Page 1, Line 12, strike the enacting clause
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88+Passed the House of Representatives the 21st day of April, 2021.
89+
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94+Presiding Officer of the House o f
95+ Representatives
96+
97+
98+Passed the Senate the ____ day of __________, 2021.
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104+Presiding Officer of the Senate
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107+ENGR. S. B. NO. 893 Page 1 1
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132+ENGROSSED SENATE
133+BILL NO. 893 By: Pugh, Jett and Bergstrom of
134+the Senate
135+
136+ and
137+
138+ Fetgatter and Rosecrants of
139+the House
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141+
142+
143+
144+An Act relating to income tax; amending 68 O.S. 2011,
145+Section 2357.301, as amended by Section 1, Chapter
146+30, O.S.L. 2014 (68 O.S. Supp. 2020, Section
147+2357.301), which relates to income tax credits;
148+modifying definitions related to credits for
149+aerospace sector; and providin g an effective date.
150+
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28153
29154 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
30-
31155 SECTION 1. AMENDATORY 68 O.S. 2011, Section 2357.301, as
32156 amended by Section 1, Chapter 30, O.S.L. 2014 (68 O.S. Supp. 2020,
33157 Section 2357.301), is amend ed to read as follows:
34-
35158 Section 2357.301. As used in Sections 2357.301 through 2357.304
36159 of this title:
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38160 1. “Aerospace sector” means a private or public organization
39161 engaged in the manufacture of aerospace or defense hardware or
40162 software, aerospace maintena nce, aerospace repair and overhaul,
41163 supply of parts to the aerospace industry, provision of services and
42164 support relating to the aerospace industry, research and development
43165 of aerospace technology and systems , and the education and training
44166 of aerospace personnel;
45167
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47-ENR. S. B. NO. 893 Page 2
48193 2. “Compensation” means payments in the form of contract labor
49194 for which the payor is required to provide a Form 1099 to the person
50195 paid, wages subject to withholding tax paid to a part -time employee
51196 or full-time employee, or salary or other rem uneration.
52197 Compensation shall not include employer -provided retirement, medical
53198 or health-care benefits, reimbursement for travel, meals, lodging or
54199 any other expense;
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56200 3. “Institution” means an institution within The Oklahoma State
57201 System of Higher Educa tion or any other public or private college or
58202 university that is accredited by a national accrediting body;
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60203 4. “Qualified employer” means a sole proprietor, general
61204 partnership, limited partnership, limited liability company,
62205 corporation, other legally r ecognized business entity , or public
63206 entity whose principal business activity involves the aerospace
64207 sector;
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66208 5. “Qualified employee” means any person, regardless of the
67209 date of hire, employed in this state by or contracting in this state
68210 with a qualified employer on or after January 1, 2009, who has been
69211 awarded an undergraduate or graduate degree from a qualified program
70212 by an institution, and who was not employed in the aerospace sector
71213 in this state immediately preceding employment or contracting with a
72214 qualified employer, and who has been either:
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74215 a. awarded an undergraduate or graduate degree from a
75216 qualified program by an institution, or
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76242
77243 b. licensed as a Professional Engineer by the State Board
78244 of Licensure for Professional Engineers and Land
79245 Surveyors pursuant to Section 475.15 of Title 59 of
80246 the Oklahoma Statutes .
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82247 Provided, the definition shall not be interpreted to exclude any
83248 person who was employed in the aerospace sector, but not as a full -
84249 time engineer, prior to being awarded an undergraduate or graduate
85250 degree from a qualified program by an institution or any person who
86251 has been awarded an undergraduate or graduate degree from a
87252 qualified program by an institution and is employed by a
88253 professional staffing company and assigned to work in the aero space
89254 sector in this state;
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91-ENR. S. B. NO. 893 Page 3
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93255 6. “Qualified program” means a program at an institution that
94256 includes a graduate or undergraduate program that has been
95257 accredited by the Engineering Accreditation Commission of the
96258 Accreditation Board for Engineering and Tech nology (ABET) and that
97259 awards an undergraduate or graduate degree . Both the undergraduate
98260 and graduate programs of the same discipline of engineering at an
99261 institution shall be part of the qualified program if either program
100262 is ABET accredited; and
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102263 7. “Tuition” means the average annual amount paid by a
103264 qualified employee for enrollment and instruction in a qualified
104265 program. Tuition shall not include the cost of books, fees or room
105266 and board.
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107293 SECTION 2. This act shall become effective No vember 1, 2021.
108-
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110-ENR. S. B. NO. 893 Page 4
111-Passed the Senate the 19th day of May, 2021.
294+Passed the Senate the 11th day of March, 2021.
112295
113296
114297
115298 Presiding Officer of the Senate
116299
117300
118-Passed the House of Representatives the 24th day of May, 2021.
301+Passed the House of Representatives the ____ day of __________,
302+2021.
119303
120304
121305
122306 Presiding Officer of the House
123307 of Representatives
124308
125-OFFICE OF THE GOVERNOR
126-Received by the Office of the Governor this _______ _____________
127-day of ___________________, 20_______, at _______ o'clock _______ M.
128-By: _______________________________ __
129-Approved by the Governor of the State of Oklahoma this _____ ____
130-day of _________________ __, 20_______, at _______ o'clock _______ M.
131309
132- _________________________________
133- Governor of the State of Oklahoma
134-
135-
136-OFFICE OF THE SECRETARY OF STATE
137-Received by the Office of the Secretary of State this _______ ___
138-day of __________________, 20 _______, at _______ o'clock _______ M.
139-By: __________________________ _______