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SENATE FLOOR VERSION
February 23, 2021
SENATE BILL NO. 941 By: Jett
An Act relating to income tax; amending 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), which relat es to definitions; modifying
definition; and providing an effective date .
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLA HOMA:
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 2357.301 th rough 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, space maintenance, aerospace repair
and overhaul, supply of parts to the aerospace industry, provision
of services and support relating to the aerospace industry, research
and development of aerospace and space technology and systems, and
the education and training of aerospace and space personnel.
Aerospace sector shall include but not be limited to those aerospace
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product and parts manufacturing activities defined or classified in
the North American Industry Classification System (NAICS) Manual
under U.S. Industry Group No. 3364 ;
2. “Compensation” means payments in the form of contract labor
for which the payor is required to provide a Form 1099 to the person
paid, wages subject to withho lding 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, reimbursement 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 nation al 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 business activity involves t he 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 program
by an institution, and who was not employed in the a erospace sector
in this state immediately preceding employment or contracting with a
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qualified employer. Provided, the definition shal l not be
interpreted to exclude any p erson who was employed in the aerospace
sector, but not as a full -time engineer, prior to being awarded an
undergraduate or graduate degree from a qualified program by an
institution or any person who has been awarded a n undergraduate or
graduate degree from a qualified program by an 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 that has been accredited
by the Engineering Accreditation Commis sion of the Accreditation
Board for Engineering and Technology (ABET) and that award s an
undergraduate or graduate degree; and
7. “Tuition” means the average annual amount paid by a
qualified employee for enrollment an d instruction in a qualified
program. Tuition shall not include the cost of books, fees or room
and board.
SECTION 2. This act shall become effective November 1, 2021.
COMMITTEE REPORT BY: COMMITTEE ON FINANCE
February 23, 2021 - DO PASS