Oklahoma 2023 Regular Session

Oklahoma Senate Bill SB306 Compare Versions

Only one version of the bill is available at this time.

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53	53	STATE OF OKLAHOMA
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55	55	1st Session of the 59th Legislature (2023)
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57	57	SENATE BILL 306 By: Hicks
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63	63	AS INTRODUCED
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65	65	An Act relating to income tax credit; providin g a
66	66	credit for the purchase of an e-bike; providing for
67	67	refundability under certain circumstances; defining
68	68	term; providing for codification; and providing an
69	69	effective date.
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75	75	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
76	76	SECTION 1. NEW LAW A new section of law to be codified
77	77	in the Oklahoma Statutes as Section 2358.8 of Title 68, unless there
78	78	is created a duplication in numb ering, reads as follows:
79	79	A. For tax year 2024 and subsequent tax years, there shall be
80	80	allowed a one-time credit against the income tax imposed by Section
81	81	2355 of Title 68 of the Ok lahoma Statutes for the purchase of an e-
82	82	bike. The amount of the credit shall b e Two Hundred Dollars
83	83	($200.00). If the credit exceeds the tax imposed by Section 2355 of
84	84	Title 68 of the Oklahoma Sta tutes, the excess amount shall be
85	85	refunded to the taxpaye r.
86	86	B. For purposes of this section, “e-bike” means a two-wheeled
87	87	or three-wheeled plug-in electric vehicle manufactured primarily for
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139	139	use on streets, roads , and highways, and capable of achieving a
140	140	speed greater than fifteen (15) miles per hour. E-bike shall not
141	141	mean an electric scooter that transports a person solely while
142	142	standing upright.
143	143	SECTION 2. This act shall become effective November 1, 2023.
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145	145	59-1-1182 QD 1/12/2023 5:59:45 PM