Oklahoma 2024 Regular Session

Oklahoma House Bill HB2318 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	ENGR. H. B. NO. 2318 Page 1 1
	3	+	HB2318 HFLR Page 1
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28		-	ENGROSSED HOUSE
29		-	BILL NO. 2318 By: McBride, Hardin and Hilbert
30		-	of the House
	29	+	HOUSE OF REPRESENTATIVES - FLOOR VERSION
	30	+
	31	+	STATE OF OKLAHOMA
	32	+
	33	+	1st Session of the 59th Legislature (2023)
	34	+
	35	+	COMMITTEE SUBSTITUTE
	36	+	FOR
	37	+	HOUSE BILL NO. 2318 By: McBride, Hardin, and
	38	+	Hilbert of the House
31	39
32	40		and
33	41
34	42		Thompson (Roger) of the
35	43		Senate
36	44
37	45
38	46
	47	+	COMMITTEE SUBSTITUTE
39	48
40	49		[ scholarships – Oklahoma Equal Opportunity Education
41	50		Scholarship Act – higher education institution
42	51		foundations – tax credits -
43	52		emergency ]
44		-
45		-
46	53
47	54
48	55		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHO MA:
49	56		SECTION 1. AMENDATORY 68 O.S. 2021, Sectio n 2357.206, as
50	57		amended by Section 1, Chapter 49, O.S.L. 2022 (68 O.S. Su pp. 2022,
51	58		Section 2357.206), is amended to read as follows:
52	59		Section 2357.206 A. This act shall be known and may be c ited
53	60		as the "Oklahoma Equal Opportunity Education Scholarship Act".
54	61		B. 1. Except as provided in subsection G H of this section,
55	62		after August 26, 2011, there shall be allowed a credit for any
56		-	taxpayer who makes a contribution to an eligible scholarship -
57		-	granting organization.
58		-	The credit shall be equal to fifty percent (50%) of the total
59		-	amount of contributions made during a taxable year, not to exceed
60	63
61		-	ENGR. H. B. NO. 2318 Page 2 1
	64	+	HB2318 HFLR Page 2
	65	+	BOLD FACE denotes Committee Amendments. 1
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	90	+	taxpayer who makes a contribution to an eligible scholarship -
	91	+	granting organization.
	92	+	The credit shall be equal to fifty percent (50%) of the total
	93	+	amount of contributions made during a taxable year, not to exceed
86	94		One Thousand Dollars ($1,000.00) for single i ndividuals, Two
87	95		Thousand Dollars ($2,000.00) for married individu als filing jointly,
88	96		or One Hundred Thousand Dollars ($100,000.00) for any taxpayer which
89	97		is a legal business entity including limited and general
90	98		partnerships, corporations, subchapter S corp orations and limited
91	99		liability companies, plus any suspended cred its pursuant to
92	100		subparagraph d e of paragraph 2 of subsection I J of this section;
93	101		provided, if total credits claimed pursuant to this paragraph exceed
94	102		the cap amount established pursuant to paragraphs 1 and 2 of
95	103		subsection E F of this section, the credit shall be equal to the
96	104		taxpayer's proportionate share of the cap for the taxable year, as
97	105		determined pursuant to subsection I J of this section.
98	106		2. For any taxpayer who makes a contr ibution to an eligible
99	107		scholarship-granting organization and makes a written commitment to
100	108		contribute the same amount for an additional year, the credit for
101	109		the first year and the additio nal year shall be equal to seventy-
102	110		five percent (75%) of the total am ount of the contribution made
103	111		during a taxable year, not to e xceed the amounts established in
104	112		paragraph 1 of this subsection for the taxable year in which the
105	113		credit provided in this subs ection is claimed. The taxpayer shall
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	115	+	HB2318 HFLR Page 3
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106	141		provide evidence of the writte n commitment to the Oklahoma Tax
107	142		Commission at the time of fi ling the refund claim.
108	143		3. The credits authorized pursuant to the provisions of this
109	144		subsection shall be allocable to the par tners, shareholders,
	145	+	members, or other equity owners of a taxpayer that is authorized to
	146	+	be treated as a partnership for purposes of federal income tax
	147	+	reporting for the taxable year for which the tax credits authorized
	148	+	by this subsection are claimed on th e applicable return, together
	149	+	with required schedules, forms or reports of the partners,
	150	+	shareholders, members, or other equity owner s of the taxpayer. Tax
	151	+	credits which are allocated to such equity owners shall only be
	152	+	limited in amount for the income ta x return of a natural person or
	153	+	persons based upon the limitation of the total credit amount to the
	154	+	entity from which the tax credits have been allocated and shall not
	155	+	be limited to One Thousand Dollars ($1,000.00) for single
	156	+	individuals or limited to Two Thousand Dollars ($2,000.00) for
	157	+	married persons filing a joint return.
	158	+	4. On or before April 30, 2024, and once every two (2) years
	159	+	thereafter, such scholarship-granting organization and educational
	160	+	improvement grant organization shall electronically submit to the
	161	+	Oklahoma Tax Commission, the Governor, President Pro Tempore of the
	162	+	Oklahoma State Senate, the Speaker of the Oklahoma House of
	163	+	Representatives, and the chairs and vice chairs of the education
	164	+	committees of the Senate and House of Repres entatives an audited
110	165
111		-	ENGR. H. B. NO. 2318 Page 3 1
	166	+	HB2318 HFLR Page 4
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	192	+	financial statement for the organization along with information
	193	+	detailing the benefits, successes, or failures of the prog ram, and
	194	+	make publicly available on its website the financial statement and
	195	+	information submitted pursuant to this paragraph.
	196	+	C. 1. Except as provided in subsection G H of this section,
	197	+	after August 26, 201 1, there shall be allowed a credit for any
	198	+	taxpayer who makes a con tribution to an eligible educational
	199	+	improvement grant organization. Except as otherwise provided by
	200	+	paragraph 2 of this subsection, the credit shall be equal to fifty
	201	+	percent (50%) of the total amount of contributions made during a
	202	+	taxable year, not to exceed One Thousand Dollars ($1,000.00) for
	203	+	single individuals, Two Thousand Dollars ($2,000.00) for married
	204	+	individuals filing jointly, or One Hundred Thousand Dollars
	205	+	($100,000.00) for any taxpayer which is a legal business entity
	206	+	including limited and ge neral partnerships, corporations, subchapter
	207	+	S corporations and limited liability companies, plus any suspended
	208	+	credits pursuant to subparagraph d e of paragraph 2 of subsection I
	209	+	J of this section; provided, if total credits claimed pu rsuant to
	210	+	this paragraph exceed the cap amount established pursuant to
	211	+	paragraphs 3 and 4 of subsection E F of this section, the credit
	212	+	shall be equal to the taxpayer's proportionate share of the cap for
	213	+	the taxable year, as determined pursuant to subsection I J of this
	214	+	section.
	215	+
	216	+	HB2318 HFLR Page 5
	217	+	BOLD FACE denotes Committee Amendments. 1
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	242	+	2. For any taxpayer who makes a contribution to an eligible
	243	+	educational improvement grant organization and makes a written
	244	+	commitment to contribute the same amount for an additional year, the
	245	+	credit for the first year and the additional year shall be equal to
	246	+	seventy-five percent (75%) of the total amount of the contribution
	247	+	made during a taxable year, not to exceed the cap amount established
	248	+	in paragraphs 3 and 4 of subsection E F of this section for the
	249	+	taxable year in which the credit provided in this paragraph is
	250	+	claimed; provided, if total credits claimed pursuant to this
	251	+	paragraph exceed the cap established pursuant to paragraphs 3 and 4
	252	+	of subsection E F of this section, the credit shall be equal to the
	253	+	taxpayer's proportionate share of the cap for the taxable year, as
	254	+	determined pursuant to subsection I J of this section. The taxpayer
	255	+	shall provide evidence of the written commitment to the Oklahoma Tax
	256	+	Commission at the time of filing the ref und claim.
	257	+	3. The credits authorized pursuant to the provisions of this
	258	+	subsection shall be allocable to the partners, shareholders,
	259	+	members, or other equity owners of a taxpayer that is authorized to
	260	+	be treated as a partnership for purposes of federal inc ome tax
	261	+	reporting for the taxable yea r for which the tax credits authorized
	262	+	by this subsection are claimed on the applicable return, together
	263	+	with required schedules, forms, or reports of the partners,
	264	+	shareholders, members, or other equity owners of the tax payer. Tax
	265	+	credits which are allocat ed to such equity owners shall only be
	266	+
	267	+	HB2318 HFLR Page 6
	268	+	BOLD FACE denotes Committee Amendments. 1
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	293	+	limited in amount for the income tax return of a natural person or
	294	+	persons based upon the limitation of the total credit amount to the
	295	+	entity from which the tax credits have been a llocated and shall not
	296	+	be limited to One Thousand Dollars ($1,000.00) for single
	297	+	individuals or limited to Two Thousand Dollars ($2,000.00) for
	298	+	married persons filing a joint return.
	299	+	D. 1. For contributions made on or after January 1, 2022 ,
	300	+	there shall be allowe d a credit for any taxpayer w ho makes a
	301	+	contribution to an eligible public school foundation or public
	302	+	school district. Except as otherwise p rovided by paragraph 2 of
	303	+	this subsection, the credit shall be equal to fifty percent (50%) of
	304	+	the total amount of contributions made during a taxable year, not to
	305	+	exceed One Thousand Dollars ($1,000.00) for single individuals, Two
	306	+	Thousand Dollars ($2,000.00) for married individuals filing jointly,
	307	+	or One Hundred Thousand Dollars ($100,000.00) for any taxpayer which
	308	+	is a legal business entity including limited and general
	309	+	partnerships, corporations, subchapter S corporations and limited
	310	+	liability companies; provided, if total credits claimed pursuant to
	311	+	this paragraph exceed the cap amount established pursuant to
	312	+	paragraph 4 of subsection E F of this section, the credit shall be
	313	+	equal to the taxpayer's proportionate share of the cap for the
	314	+	taxable year, as determined pursuant to subsection I J of this
	315	+	section.
	316	+
	317	+	HB2318 HFLR Page 7
	318	+	BOLD FACE denotes Committee Amendments. 1
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	343	+	2. Except as otherwise provided by paragraph 1 of this
	344	+	subsection, for any taxpayer w ho makes a contribution to an eligible
	345	+	public school foundation or public school district and makes a
	346	+	written commitment to contribute the same amount for an additional
	347	+	year, the credit for the first year and the additional year shall be
	348	+	equal to seventy-five percent (75%) of the total amount of the
	349	+	contribution made during a taxable year, not to exceed the cap
	350	+	amount established in paragraph 4 of subsection E F of this section
	351	+	for the taxable year in which the credit provided in this paragraph
	352	+	is claimed. The tax payer shall provide evidence of the written
	353	+	commitment to the Oklahoma Tax Commission at the time of filing the
	354	+	refund claim; provided, if total credits claimed pursuant to this
	355	+	paragraph exceed the cap amount established pursuant to paragraph 4
	356	+	of subsection E F of this section, the credit shall be equal to the
	357	+	taxpayer's proportionate share of the cap for the t axable year, as
	358	+	determined pursuant to subsection I J of this section.
	359	+	3. The credits authorized pursuant to the provisions of this
	360	+	subsection shall be allocable to the partners, shareholders,
	361	+	members, or other equity owners of a taxpayer that is authorized to
	362	+	be treated as a partnership for purposes of federal income tax
	363	+	reporting for the taxable year for which the tax credits authorized
	364	+	by this subsection are claimed on the applicable return, together
	365	+	with required schedules, forms, or reports of the partner s,
	366	+	shareholders, members, or other equity owners of the taxpayer. Tax
	367	+
	368	+	HB2318 HFLR Page 8
	369	+	BOLD FACE denotes Committee Amendments. 1
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	394	+	credits which are allocated to such equity owners shall only be
	395	+	limited in amount for the income tax return of a natural person or
	396	+	persons based upon the limitation of the total credit a mount to the
	397	+	entity from which the tax credits have been allocated and shall not
	398	+	be limited to One Thousand Dollars ( $1,000.00) for single
	399	+	individuals or limited to Two Thousand Dollars ($2,000.00) for
	400	+	married persons filing a joint return.
	401	+	4. On or before April 30, 2024, and once every four (4) years
	402	+	thereafter, such eligible public school foundation and public school
	403	+	district shall submit to the Oklahoma Tax Commission, the Governor,
	404	+	President Pro Tempore of the Oklahoma State Senate, and the Speaker
	405	+	of the Oklahoma House of Representatives an audited financial
	406	+	statement for the organization along with information detai ling the
	407	+	benefits, successes, or failures of the pr ograms.
	408	+	E. 1. For contributions made on or after January 1, 2024,
	409	+	there shall be allowe d a credit for any t axpayer who makes a
	410	+	contribution to an eligible higher education institution foundation.
	411	+	Except as otherwise p rovided by paragraph 2 of this subsection, the
	412	+	credit shall be equal to fifty percent (50%) of the total amount of
	413	+	contributions made during a taxable year, not to exceed One Thousand
	414	+	Dollars ($1,000.00) for single individuals, Two Thousand Dollars
	415	+	($2,000.00) for married individuals filing jointly, or One Hundred
	416	+	Thousand Dollars ($100,000.00) for any taxpayer which is a legal
	417	+	business entity including limited and general partnerships,
	418	+
	419	+	HB2318 HFLR Page 9
	420	+	BOLD FACE denotes Committee Amendments. 1
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	445	+	corporations, subchapter S corporations , and limited liability
	446	+	companies; provided, if total credits claimed pursuant to this
	447	+	paragraph exceed the cap amount established pursuant to paragraph 4
	448	+	of subsection F of this section, the credit shall be equal to the
	449	+	taxpayer's proportionate share of the cap for the taxable year, as
	450	+	determined pursuant to subsection J of this section.
	451	+	2. Except as otherwise provided by paragraph 1 of this
	452	+	subsection, for any taxpayer w ho makes a contribution to an eligible
	453	+	higher education inst itution foundation and makes a written
	454	+	commitment to contribute the same amount for an additional year, the
	455	+	credit for the first year and the additional year shall be equal to
	456	+	seventy-five percent (75%) of the total amount of the contribution
	457	+	made during a taxable year, not to exceed the cap amoun t established
	458	+	in paragraph 4 of subsection F of this section for the taxable year
	459	+	in which the credit provided in this paragraph is claimed. The
	460	+	taxpayer shall provide evidence of the written commitment to the
	461	+	Oklahoma Tax Commission at the time of filing the refund claim;
	462	+	provided, if total credits claimed pursuant to this paragraph exceed
	463	+	the cap amount established pursuant to paragraph 4 of subsection F
	464	+	of this section, the credit shall be equal to the taxpayer's
	465	+	proportionate share of the cap for the t axable year, as determined
	466	+	pursuant to subsection J of this section.
	467	+	3. The credits authorized pursuant to the provisions of this
	468	+	subsection shall be allocable to the partners, shareholders,
	469	+
	470	+	HB2318 HFLR Page 10
	471	+	BOLD FACE denotes Committee Amendments. 1
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136	496		members, or other equity owners of a taxpayer that is authorized to
137	497		be treated as a partnership for purposes of federal income tax
138	498		reporting for the taxable year for which the tax credits authorized
139	499		by this subsection are claimed on the applicable return, together
140		-	with required schedules, forms or ~~report s~~ of the ~~partners~~,
	500	+	with required schedules, forms, or reports of the partner s,
141	501		shareholders, members, or other equity owners of the taxpayer. Tax
142	502		credits which are allocated to such equity owners shall only be
143	503		limited in amount for the income tax return of a natural person or
144	504		persons based upon the limitation of the total credit a mount to the
145	505		entity from which the tax credits have been allocated and shall not
146	506		be limited to One Thousand Dollars ($1,000.00) for single
147	507		individuals or limited to Two Thousand Dollars ($2,000.00) for
148	508		married persons filing a joint return.
149		-	4. On or before April 30, ~~2024~~, and once every ~~two~~ (2) years
150		-	thereafter, ~~such scholarship-granting~~ ~~organization and educational~~
151		-	~~improvement grant organization~~ shall ~~electronically~~ submit to the
152		-	~~Oklahoma Tax Commission, the Governor, President~~ Pro ~~Tempor e~~ of the
153		-	~~Oklahoma State Senate, the Speaker of the~~ Oklahoma House of
154		-	~~Representatives, and~~ the ~~chairs and vice chairs of the education~~
155		-	~~committees~~ of the ~~Senate and House of Repres entatives an audited~~
156		-	~~financial statement for the organization along with information~~
157		-	~~detailing the benefits, successes, or failures of the prog ram, and~~
158		-	~~make publicly available on its website~~ the ~~financial statement and~~
159		-	~~information submitted pursuant to~~ this ~~paragraph.~~
	509	+	4. On or before April 30, 2026, and once every four (4) years
	510	+	thereafter, each eligible higher education institution foundation
	511	+	shall submit to the Oklahoma Tax Commission, the Governor, President
	512	+	Pro Tempore of the Oklahoma State Senate, and the Speaker of the
	513	+	Oklahoma House of Representatives an audited financial statement for
	514	+	the foundation along with information detailing the benefits,
	515	+	successes, or failures of the progr am.
	516	+	F. Except as otherwise provided pursuant to subsection I J of
	517	+	this section:
	518	+	1. The total credits authorized pu rsuant to subsection B of
	519	+	this section for all taxpayers for tax years 2017 through 2021 shall
160	520
161		-	ENGR. H. B. NO. 2318 Page 4 1
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186		-	~~C. 1.~~ ~~Except as provided in subsection G H of this section,~~
187		-	~~after August 26, 2011, there shall be allowed a credit for any~~
188		-	~~taxpayer who makes a con tribution~~ to ~~an eligible educational~~
189		-	~~improvement grant organization.~~ ~~Except as otherwise provided by~~
190		-	~~paragraph 2 of this subsection, the credit~~ shall ~~be equal to fifty~~
191		-	~~percent (50%) of the total amount of contributions made during a~~
192		-	~~taxable year,~~ ~~not~~ to ~~exceed One Thousand Dollars ($1,000.00) for~~
193		-	~~single individuals, Two Thousand Dollars ($2,000.00)~~ for ~~married~~
194		-	~~individuals filing jointly, or~~ One Hundred Thousand Dollars
195		-	~~($100,000.00) for any taxpayer which is a legal business entity~~
196		-	~~including limited~~ and ~~ge neral partnerships, corporations, subchapter~~
197		-	~~S corporations~~ and ~~limited liability companies, plus any suspended~~
198		-	~~credits pursuant to subparagraph d e of paragraph 2 of subsection I~~
199		-	~~J of this section;~~ provided~~, if total credits claimed pu rsuant to~~
200		-	~~this~~ paragraph ~~exceed the cap amount established pursuant to~~
201		-	~~paragraphs 3 and 4 of subsection E F of~~ this ~~section~~, the credit
202		-	shall be ~~equal~~ to ~~the taxpayer's proportionate share of the cap for~~
203		-	~~the taxable year~~, ~~as determined pursuant to subsection I J~~ of ~~this~~
204		-	~~section~~.
205		-	2. For ~~any taxpayer who makes a contribution to an eligible~~
206		-	~~educational improvement grant organization and makes a written~~
207		-	~~commitment~~ to ~~contribute the same amount for an additional year, the~~
208		-	~~credit for~~ the ~~first year and the additional year shall be equal to~~
209		-	~~seventy-five percent (75%) of~~ the ~~total~~ amount ~~of the contribution~~
	547	+	not exceed Three Million Five Hundred Thousand Dollars
	548	+	($3,500,000.00) annually;
	549	+	2. The total credits authorized pursuant to subsection B of
	550	+	this section for all taxpayers for tax years 2022 and subsequent tax
	551	+	years shall not exceed Twenty-five Million Dollars ($25,000,000.00)
	552	+	annually;
	553	+	3. The total credits authorized pursuant to subsection C of
	554	+	this section for all taxpayers for tax years 2017 through 2021 shall
	555	+	not exceed One Million Five Hundred Thousand Dollars ($1,500,000.00)
	556	+	annually;
	557	+	4. The total credits authorized pursuant to subsection s C and D
	558	+	of this section for all taxpayers for tax year 2022 and subsequent
	559	+	tax years shall not exceed Twenty-five Million Dollars
	560	+	($25,000,000.00) annually. In Except as otherwise provided pursuant
	561	+	to subparagraph c of paragraph 2 of subsection J of this section, in
	562	+	addition to the cap amount prescribed by this paragraph, the credit
	563	+	amount shall also be limited to Two Hundred Thousand Dollars
	564	+	($200,000.00) of credits per public scho ol district annually; and
	565	+	5. The total credits authorized pursuant to subsection E of
	566	+	this section for all taxpayers for tax year 2024 and subsequent tax
	567	+	years shall not exceed Twenty -five Million Dollars ($25,000,000.00)
	568	+	annually. Except as otherwise pr ovided pursuant to subparagraph d
	569	+	of paragraph 2 of subsection J of this section, in addition to the
	570	+	cap amount prescribed by th is paragraph, the credit amount shall
210	571
211		-	ENGR. H. B. NO. 2318 Page 5 1
	572	+	HB2318 HFLR Page 12
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236		-	made during a taxable year, not to exceed the cap amount established
237		-	in paragraphs 3 and 4 of subsection E F of this section for the
238		-	taxable year in which the credit provided in this paragraph is
239		-	claimed; provided, if total credits claimed pursuant to this
240		-	paragraph exceed the cap established pursuant to paragraphs 3 and 4
241		-	of subsection E F of this section, the credit shall be equal to the
242		-	taxpayer's proportionate share of the cap for the taxable year, as
243		-	determined pursuant to subsection I J of this section. The taxpayer
244		-	shall provide evidence of the written commitment to the Oklahoma Tax
245		-	Commission at the time of filing the ref und claim.
246		-	3. The credits authorized pursuant to the provisions of this
247		-	subsection shall be allocable to the partners, shareholders,
248		-	members, or other equity owners of a taxpayer that is authorized to
249		-	be treated as a partnership for purposes of federal inc ome tax
250		-	reporting for the taxable yea r for which the tax credits authorized
251		-	by this subsection are claimed on the applicable return, together
252		-	with required schedules, forms, or reports of the partners,
253		-	shareholders, members, or other equity owners of the tax payer. Tax
254		-	credits which are allocat ed to such equity owners shall only be
255		-	limited in amount for the income tax return of a natural person or
256		-	persons based upon the limitation of the total credit amount to the
257		-	entity from which the tax credits have been a llocated and shall not
258		-	be limited to One Thousand Dollars ($1,000.00) for single
	598	+	also be limited to Six Million Dollars ($6,000,000.00) of credits
	599	+	per public higher education institution annually; and
	600	+	6. The cap on total credits provided for in this subsection
	601	+	shall be allocated by the Tax Commission as provided i n subsection I
	602	+	J of this section.
	603	+	F. G. For credits claimed for eligible contributions made
	604	+	during tax year 2014 and thereafter, a credit shall not be allowed
	605	+	by the Oklahoma Tax Commission for contributions made to a
	606	+	scholarship-granting organization or an educational improvement
	607	+	grant organization if that organization's percentage of funds
	608	+	actually awarded is less than ninety percent (90%). For purposes of
	609	+	this section, the "percentage of funds actually awarded" shall be
	610	+	determined by dividing the total amount of funds actually awarded as
	611	+	educational scholarships or educational improvement grants over the
	612	+	most recent twenty-four (24) months by the total amount available to
	613	+	award as educational scholarships or educational improvement grants
	614	+	over the most recent twenty-four (24) months.
	615	+	G. H. Any tax credits which are earned by a taxpayer pursuant
	616	+	to this section during the time period beginning August 26, 2011,
	617	+	through December 31, 2012, may not be claimed for any period prior
	618	+	to the taxable year beginning J anuary 1, 2013. No credits which
	619	+	accrue during the ti me period beginning August 26, 2011, through
	620	+	December 31, 2012, may be used to file an amended tax return for any
	621	+	taxable year prior to the taxable year beginning January 1, 2013.
259	622
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285		-	~~individuals or limited to Two Thousand Dollars ($2,000.00) for~~
286		-	~~married persons filing~~ a ~~joint return.~~
287		-	~~D. 1.~~ ~~For contributions made on or after January 1,~~ ~~2022,~~
288		-	~~there shall be allowe d a credit for any taxpayer w ho makes a~~
289		-	~~contribution~~ to ~~an eligible public school foundation or public~~
290		-	~~school district. Except as otherwise p rovided by paragraph 2~~ of
291		-	~~this subsection~~, the ~~credit shall be equal to fifty percent (50%) of~~
292		-	~~the total amount~~ of ~~contributions made during a taxable year,~~ ~~not to~~
293		-	~~exceed One Thousand Dollars ($1,000.00) for single individuals~~, ~~Two~~
294		-	~~Thousand Dollars ($2,000.00)~~ for ~~married individuals filing jointly,~~
295		-	~~or One Hundred Thousand Dollars ($100,000.00) for any taxpayer which~~
296		-	is a ~~legal business entity including limited and general~~
297		-	~~partnerships~~, ~~corporations, subchapter S corporations and limited~~
298		-	~~liability companies; provided~~, ~~if total credits claimed pursuant to~~
299		-	~~this paragraph exceed the cap amount established pursuant to~~
300		-	~~paragraph 4~~ of ~~subsection E F of this section~~, ~~the credit shall be~~
301		-	~~equal to the taxpayer's proportionate share of the cap for the~~
302		-	~~taxable year,~~ ~~as determined pursuant to subsection I J of this~~
303		-	~~section.~~
304		-	~~2. Except as otherwise provided by paragraph 1 of this~~
305		-	~~subsection,~~ for ~~any taxpayer w ho makes~~ a ~~contribution to an eligible~~
306		-	~~public~~ school ~~foundation or~~ public school ~~district and makes a~~
307		-	~~written commitment~~ to ~~contribute~~ the ~~same amount for an additional~~
308		-	~~year~~, ~~the credit for the first year and the additional year shall be~~
	649	+	H. I. As used in this section:
	650	+	1. "Eligible student" means a child of scho ol age who is
	651	+	lawfully present in the United States and who is a member of a
	652	+	household in which the total annual income during the preceding tax
	653	+	year does not exceed an amount equal to three hundred percent (300%)
	654	+	of the income standard used to qualify for a free or reduced-price
	655	+	school lunch or who, during the immediately preceding school year,
	656	+	attended or, by virtu e of the location of such student's place of
	657	+	residence, was eligible to attend a public school in thi s state
	658	+	which has been identified for scho ol improvement as determined by
	659	+	the State Board of Education pursuant to the requirements of the No
	660	+	Child Left Behind Act of 2001, P.L. No. 107-110. Once a student has
	661	+	received an educational scholarship, as defin ed in paragraph 3 of
	662	+	this subsection, the student and any siblings who are members of the
	663	+	same household shall remain eligible until they graduate from hig h
	664	+	school or reach twenty-one (21) years of age, whichever occurs
	665	+	first;
	666	+	2. "Eligible special needs s tudent" means a child who has been
	667	+	provided services under an Individualized Family Service Plan
	668	+	through the SoonerStart program and during transition was evaluated
	669	+	and determined to be eligible for school district services, a child
	670	+	of school age who has atten ded public school in our state wi th an
	671	+	individualized education program pursuant to the Individuals With
	672	+	Disabilities Education Act, 20 U.S.C.A., Section 1400 et seq., or a
309	673
310		-	ENGR. H. B. NO. 2318 Page 7 1
	674	+	HB2318 HFLR Page 14
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335		-	equal to seventy-five percent (75%) of the total amount of the
336		-	contribution made during a taxable year, not to exceed the cap
337		-	amount established in paragraph 4 of subsection E F of this section
338		-	for the taxable year in which the credit provided in this paragraph
339		-	is claimed. The tax payer shall provide evidence of the written
340		-	commitment to the Oklahoma Tax Commission at the time of filing the
341		-	refund claim; provided, if total credits claimed pursuant to this
342		-	paragraph exceed the cap amount established pursuant to paragraph 4
343		-	of subsection E F of this section, the credit shall be equal to the
344		-	taxpayer's proportionate share of the cap for the t axable year, as
345		-	determined pursuant to subsection I J of this section.
346		-	3. The credits authorized pursuant to the provisions of this
347		-	subsection shall be allocable to the partners, shareholders,
348		-	members, or other equity owners of a taxpayer that is authorized to
349		-	be treated as a partnership for purposes of federal income tax
350		-	reporting for the taxable year for which the tax credits authorized
351		-	by this subsection are claimed on the applicable return, together
352		-	with required schedules, forms, or reports of the partner s,
353		-	shareholders, members, or other equity owners of the taxpayer. Tax
354		-	credits which are allocated to such equity owners shall only be
355		-	limited in amount for the income tax return of a natural person or
356		-	persons based upon the limitation of the total credit a mount to the
357		-	entity from which the tax credits have been allocated and shall not
358		-	be limited to One Thousand Dollars ( $1,000.00) for single
359		-
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384		-
385		-	individuals or limited to Two Thousand Dollars ($2,000.00) for
386		-	married persons filing a joint return.
387		-	4. On or before April 30, 2024, and once every four (4) years
388		-	thereafter, such eligible public school foundation and public school
389		-	district shall submit to the Oklahoma Tax Commission, the Governor,
390		-	President Pro Tempore of the Oklahoma State Senate, and the Speaker
391		-	of the Oklahoma House of Representatives an audited financial
392		-	statement for the organization along with information detai ling the
393		-	benefits, successes, or failures of the pr ograms.
394		-	E. 1. For contributions made on or after January 1, 2024,
395		-	there shall be allowe d a credit for any t axpayer who makes a
396		-	contribution to an eligible higher education institution foundation.
397		-	Except as otherwise p rovided by paragraph 2 of this subsection, the
398		-	credit shall be equal to fifty percent (50%) of the total amount of
399		-	contributions made during a taxable year, not to exceed One Thousand
400		-	Dollars ($1,000.00) for single individuals, Two Thousand Dollars
401		-	($2,000.00) for married individuals filing jointly, or One Hundred
402		-	Thousand Dollars ($100,000.00) for any taxpayer which is a legal
403		-	business entity including limited and general partnerships,
404		-	corporations, subchapter S corporations , and limited liability
405		-	companies; provided, if total credits claimed pursuant to this
406		-	paragraph exceed the cap amount established pursuant to paragraph 4
407		-	of subsection F of this section, the credit shall be equal to the
408		-
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433		-
434		-	taxpayer's proportionate share of the cap for the taxable year, as
435		-	determined pursuant to subsection J of this section.
436		-	2. Except as otherwise provided by paragraph 1 of this
437		-	subsection, for any taxpayer w ho makes a contribution to an eligible
438		-	higher education institution foundation and makes a written
439		-	commitment to contribute the same amount for an additional year, the
440		-	credit for the first year and the additional year shall be equal to
441		-	seventy-five percent (75%) of the total amount of the contribution
442		-	made during a taxable year, not to exceed the cap amoun t established
443		-	in paragraph 4 of subsection F of this section for the taxable year
444		-	in which the credit provided in this paragraph is claimed. The
445		-	taxpayer shall provide evidence of the written commitment to the
446		-	Oklahoma Tax Commission at the time of filing the refund claim;
447		-	provided, if total credits claimed pursuant to this paragraph exceed
448		-	the cap amount established pursuant to paragraph 4 of subsection F
449		-	of this section, the credit shall be equal to the taxpayer's
450		-	proportionate share of the cap for the t axable year, as determined
451		-	pursuant to subsection J of this section.
452		-	3. The credits authorized pursuant to the provisions of this
453		-	subsection shall be allocable to the partners, shareholders,
454		-	members, or other equity owners of a taxpayer that is authorized to
455		-	be treated as a partnership for purposes of federal income tax
456		-	reporting for the taxable year for which the tax credits authorized
457		-	by this subsection are claimed on the applicable return, together
458		-
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483		-
484		-	with required schedules, forms, or reports of the partner s,
485		-	shareholders, members, or other equity owners of the taxpayer. Tax
486		-	credits which are allocated to such equity owners shall only be
487		-	limited in amount for the income tax return of a natural person or
488		-	persons based upon the limitation of the total credit a mount to the
489		-	entity from which the tax credits have been allocated and shall not
490		-	be limited to One Thousand Dollars ($1,000.00) for single
491		-	individuals or limited to Two Thousand Dollars ($2,000.00) for
492		-	married persons filing a joint return.
493		-	4. On or before April 30, 2026, and once every four (4) years
494		-	thereafter, each eligible higher education institution foundation
495		-	shall submit to the Oklahoma Tax Commission, the Governor, President
496		-	Pro Tempore of the Oklahoma State Senate, and the Speaker of the
497		-	Oklahoma House of Representatives an audited financial statement for
498		-	the foundation along with information detailing the benefits,
499		-	successes, or failures of the progr am.
500		-	F. Except as otherwise provided pursuant to subsection I J of
501		-	this section:
502		-	1. The total credits authorized pu rsuant to subsection B of
503		-	this section for all taxpayers for tax years 2017 through 2021 shall
504		-	not exceed Three Million Five Hundred Thousand Dollars
505		-	($3,500,000.00) annually;
506		-	2. The total credits authorized pursuant to subsection B of
507		-	this section for all taxpayers for tax years 2022 and subsequent tax
508		-
509		-	ENGR. H. B. NO. 2318 Page 11 1
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533		-
534		-	years shall not exceed Twenty-five Million Dollars ($25,000,000.00)
535		-	annually;
536		-	3. The total credits authorized pursuant to subsection C of
537		-	this section for all taxpayers for tax years 2017 through 2021 shall
538		-	not exceed One Million Five Hundred Thousand Dollars ($1,500,000.00)
539		-	annually;
540		-	4. The total credits authorized pursuant to subsection s C and D
541		-	of this section for all taxpayers for tax year 2022 and subsequent
542		-	tax years shall not exceed Twenty-five Million Dollars
543		-	($25,000,000.00) annually. In Except as otherwise provided pursuant
544		-	to subparagraph c of paragraph 2 of subsection J of this section, in
545		-	addition to the cap amount prescribed by this paragraph, the credit
546		-	amount shall also be limited to Two Hundred Thousand Dollars
547		-	($200,000.00) of credits per public scho ol district annually; and
548		-	5. The total credits authorized pursuant to subsection E of
549		-	this section for all taxpayers for tax year 2024 and subsequent tax
550		-	years shall not exceed Twenty -five Million Dollars ($25,000,000.00)
551		-	annually. Except as otherwise pr ovided pursuant to subparagraph d
552		-	of paragraph 2 of subsection J of this section, in addition to the
553		-	cap amount prescribed by this paragraph, the credit amount shall
554		-	also be limited to Six Million Dollars ($6,000,000.00) of credits
555		-	per public higher education institution annually; and
556		-
557		-	ENGR. H. B. NO. 2318 Page 12 1
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581		-
582		-	6. The cap on total credits provided for in this subsection
583		-	shall be allocated by the Tax Commission as provided i n subsection I
584		-	J of this section.
585		-	F. G. For credits claimed for eligible contributions made
586		-	during tax year 2014 and thereafter, a credit shall not be allowed
587		-	by the Oklahoma Tax Commission for contributions made to a
588		-	scholarship-granting organization or an educational improvement
589		-	grant organization if that organization's percentage of funds
590		-	actually awarded is less than ninety percent (90%). For purposes of
591		-	this section, the "percentage of funds actually awarded" shall be
592		-	determined by dividing the total amount of funds actually awarded as
593		-	educational scholarships or educational improvement grants over the
594		-	most recent twenty-four (24) months by the total amount available to
595		-	award as educational scholarships or educational improvement grants
596		-	over the most recent twenty-four (24) months.
597		-	G. H. Any tax credits which are earned by a taxpayer pursuant
598		-	to this section during the time period beginning August 26, 2011,
599		-	through December 31, 2012, may not be claimed for any period prior
600		-	to the taxable year beginning J anuary 1, 2013. No credits which
601		-	accrue during the ti me period beginning August 26, 2011, through
602		-	December 31, 2012, may be used to file an amended tax return for any
603		-	taxable year prior to the taxable year beginning January 1, 2013.
604		-	H. I. As used in this section:
605		-
606		-	ENGR. H. B. NO. 2318 Page 13 1
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630		-
631		-	1. "Eligible student" means a child of scho ol age who is
632		-	lawfully present in the United States and who is a member of a
633		-	household in which the total annual income during the preceding tax
634		-	year does not exceed an amount equal to three hundred percent (300%)
635		-	of the income standard used to qualify for a free or reduced-price
636		-	school lunch or who, during the immediately preceding school year,
637		-	attended or, by virtu e of the location of such student's place of
638		-	residence, was eligible to attend a public school in thi s state
639		-	which has been identified for scho ol improvement as determined by
640		-	the State Board of Education pursuant to the requirements of the No
641		-	Child Left Behind Act of 2001, P.L. No. 107-110. Once a student has
642		-	received an educational scholarship, as defin ed in paragraph 3 of
643		-	this subsection, the student and any siblings who are members of the
644		-	same household shall remain eligible until they graduate from hig h
645		-	school or reach twenty-one (21) years of age, whichever occurs
646		-	first;
647		-	2. "Eligible special needs s tudent" means a child who has been
648		-	provided services under an Individualized Family Service Plan
649		-	through the SoonerStart program and during transition was evaluated
650		-	and determined to be eligible for school district services, a child
651		-	of school age who has atten ded public school in our state wi th an
652		-	individualized education program pursuant to the Individuals With
653		-	Disabilities Education Act, 20 U.S.C.A., Section 1400 et seq., or a
654	700		child who has been diagnosed by a clinical professional as having a
655		-
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675		-	20
676		-	21
677		-	22
678		-	23
679		-	24
680		-
681	701		significant disability that will affect learning and who has been
682	702		approved by the board of a scholarship-granting organization;
683	703		3. "Educational scholarships" means:
684	704		a. scholarships to an eligible student of up to Five
685	705		Thousand Dollars ($5,000.00) or eighty percent (80%)
686	706		of the statewide annual average per-pupil expenditure
687	707		as determined by the National Center for Education
688	708		Statistics, U.S. Department of Education, whichever is
689	709		greater, to cover all or part of the tuition, fees,
690	710		and transportation costs of a qualified schoo l which
691	711		is accredited by the St ate Board of Education or an
692	712		accrediting association approved by the Board pursuant
693	713		to Section 3-104 of Title 70 of the Oklahoma Statutes,
694	714		b. scholarships to an eligible student of up to Five
695	715		Thousand Dollars ($5,000.00) or e ighty percent (80%)
696	716		of the statewide annual average per-pupil expenditure
697	717		as determined by the National Center for Education
698	718		Statistics, U.S. Department of Education, whichever is
699	719		greater, to cover the educational costs of a qualified
700	720		school which does not charge tuition, which enrolls
701	721		special populations of students, and which is
702	722		accredited by the State Board of Education or an
703	723		accrediting association approved by the Board pursuant
704	724
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706	727		2
707	728		3
708	729		4
709	730		5
710	731		6
711	732		7
712	733		8
713	734		9
714	735		10
715	736		11
716	737		12
717	738		13
718	739		14
719	740		15
720	741		16
721	742		17
722	743		18
723	744		19
724	745		20
725	746		21
726	747		22
727	748		23
728	749		24
729	750
730	751		to Section 3-104 of Title 70 of the Oklahoma Statutes,
731	752		or
732	753		c. scholarships to an eligible special needs stu dent of
733	754		up to Twenty-five Thousand Dollars ($25,000.00) to
734	755		cover all or part of the tuition, fees, and
735	756		transportation costs of a qualified school for
736	757		eligible special needs students which is accredited by
737	758		the State Board of Edu cation or an accrediting
738	759		association approved by the Board pursuant to Section
739	760		3-104 of Title 70 of the Oklahoma Statutes, or
740	761		d. scholarships to an eligible public higher education
741	762		institution student to cover all or part of the
742	763		tuition and fees for undergraduate courses at an
743	764		institution authorized by the Oklahoma State Regents
744	765		for Higher Education;
745	766		4. "Low-income eligible student" means an eligible student or
746	767		eligible special needs student who qualifies for a free or reduced-
747	768		price lunch;
748	769		5. "Qualified school" means an early childhood, elementary, or
749	770		secondary private school in this state including schools which
750	771		provide special educational programs for three-year-olds or
751	772		prekindergarten educational programs for four-year-olds, which:
752	773
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754	776		2
755	777		3
756	778		4
757	779		5
758	780		6
759	781		7
760	782		8
761	783		9
762	784		10
763	785		11
764	786		12
765	787		13
766	788		14
767	789		15
768	790		16
769	791		17
770	792		18
771	793		19
772	794		20
773	795		21
774	796		22
775	797		23
776	798		24
777	799
778	800		a. is accredited by the State Board of Education or an
779	801		accrediting association approved by the Board pursuant
780	802		to Section 3-104 of Title 70 of the Oklahoma Statutes,
781	803		b. is in compliance with all applicable health and safety
782	804		laws and codes,
783	805		c. has a stated policy against discrimina tion in
784	806		admissions on the basis of race, color, national
785	807		origin, or disability, and
786	808		d. ensures academic accountability to parents and
787	809		guardians of students through regular progress
788	810		reports;
789	811		6. "Qualified school for eligible spe cial needs students" means
790	812		an early childhood, elementary, or secondary private school in a
791	813		county in this state including schools which provide special
792	814		educational programs for three-year-olds or prekindergarten
793	815		educational programs for four-year-olds;
794	816		7. "Scholarship-granting organization" means an organization
795	817		which:
796	818		a. is a nonprofit entity exempt from taxation pursuant to
797	819		the provisions of the Internal Revenue Code, 26
798	820		U.S.C., Section 501(c)(3),
799	821		b. distributes periodic scholarship payments as checks
800	822		made out to an eligible student's or eligible special
801	823
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803	826		2
804	827		3
805	828		4
806	829		5
807	830		6
808	831		7
809	832		8
810	833		9
811	834		10
812	835		11
813	836		12
814	837		13
815	838		14
816	839		15
817	840		16
818	841		17
819	842		18
820	843		19
821	844		20
822	845		21
823	846		22
824	847		23
825	848		24
826	849
827	850		needs student's parent or guardian and mailed to the
828	851		qualified school where the student is enrolled,
829	852		c. spends no more than ten percent (10%) of its annual
830	853		revenue on expenditures other than educational
831	854		scholarships as defined in paragraph 3 of this
832	855		subsection,
833	856		d. spends each year a portion of its expenditures on
834	857		educational scholarships for low-income eligible
835	858		students, as defined in paragraph 4 of this
836	859		subsection, in an amount equal to or greater than t he
837	860		percentage of low-income eligible students in the
838	861		state,
839	862		e. ensures that scholarships are portable during the
840	863		school year and can be used at any qualified school
841	864		that accepts the eligible student or at any qualified
842	865		school for special needs students tha t accepts the
843	866		eligible special needs student,
844	867		f. registers with the Oklahoma Tax Commission as a
845	868		scholarship-granting organization, and
846	869		g. has policies in place to:
847	870		(1) carry out criminal background checks on all
848	871		employees and board members to ensure that no
849	872		individual is involved with the organization who
850	873
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852	876		2
853	877		3
854	878		4
855	879		5
856	880		6
857	881		7
858	882		8
859	883		9
860	884		10
861	885		11
862	886		12
863	887		13
864	888		14
865	889		15
866	890		16
867	891		17
868	892		18
869	893		19
870	894		20
871	895		21
872	896		22
873	897		23
874	898		24
875	899
876	900		might reasonably pose a risk to the appropriate
877	901		use of contributed funds, and
878	902		(2) maintain full and accurate records with respect
879	903		to the receipt of contributions and expenditures
880	904		of those contributions an d supply such records
881	905		and any other documentation required by the Tax
882	906		Commission to demonstrate financial
883	907		accountability;
884	908		8. "Annual revenue" means the total amount or value of
885	909		contributions received by an organization from taxpayers awarded
886	910		credits during the organization's fiscal year and all amounts earned
887	911		from interest or investments;
888	912		9. "Public school" means public schools as defined in Section
889	913		1-106 of Title 70 of the Oklahoma Statutes;
890	914		10. "Eligible public school district" means any public school ;
891	915		11. "Early childhood education program" means a special
892	916		educational program for eligible special needs students who are
893	917		three (3) years of age or a prekindergarten educational program
894	918		provided to children who are at least four (4) years of age but not
895	919		more than five (5) years of age on or before September 1;
896	920		12. "Innovative educational program" means an advanced academic
897	921		or academic improvement program that is not part of the regular
898	922		coursework of a public school but that enhances the curriculum or
899	923
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901	926		2
902	927		3
903	928		4
904	929		5
905	930		6
906	931		7
907	932		8
908	933		9
909	934		10
910	935		11
911	936		12
912	937		13
913	938		14
914	939		15
915	940		16
916	941		17
917	942		18
918	943		19
919	944		20
920	945		21
921	946		22
922	947		23
923	948		24
924	949
925	950		academic program of the school or provides early childhood education
926	951		programs to students;
927	952		13. "Educational improvement grant" means a grant to an
928	953		eligible public school to implement an innovative educational
929	954		program for students including the ability for multiple public
930	955		schools to make an application and be awarded a grant to jointly
931	956		provide an innovative educational program;
932	957		14. "Educational improvement grant organization" means an
933	958		organization which:
934	959		a. is a nonprofit entity exempt from taxation pursuant to
935	960		the provisions of the Internal Revenue Code, 26
936	961		U.S.C., Section 501(c)(3), and
937	962		b. contributes at least ninety percent (90%) of its
938	963		annual receipts as grants to eligible schools for
939	964		innovative educational programs. For purposes of this
940	965		subparagraph, an educational improvement grant
941	966		organization contributes its annual cash receipts when
942	967		it expends or otherwise irrevocably encumbers those
943	968		funds for expenditure during the then current fiscal
944	969		year of the organization or during the next succeeding
945	970		fiscal year of the organization; and
946	971		15. "Eligible public school foundation" means a nonprofit
947	972		entity formed pursuant to the laws of this state and is exempt from
948	973		federal income taxation pursuant to either Section 501(c)(3) or
949	974
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951	977		2
952	978		3
953	979		4
954	980		5
955	981		6
956	982		7
957	983		8
958	984		9
959	985		10
960	986		11
961	987		12
962	988		13
963	989		14
964	990		15
965	991		16
966	992		17
967	993		18
968	994		19
969	995		20
970	996		21
971	997		22
972	998		23
973	999		24
974	1000
975	1001		Section 509(a) of the Internal Revenue Co de of 1986, as amended.
976	1002		Each public school foundation must shall be approved by the local
977	1003		board of education prior to accepting qualifying donations;
978	1004		16. "Eligible public higher education institution stude nt"
979	1005		means a student who is enrolled in a public higher education
980	1006		institution in the state, who is lawfully present in the United
981	1007		States, and who is a member of a household in which the total annual
982	1008		income during the preceding tax year does not exceed an amount equal
983	1009		to three hundred percent (300%) of the income standard used to
984	1010		qualify for a free or reduced-price school lunch; and
985	1011		17. "Eligible higher education in stitution foundation" means a
986	1012		nonprofit entity formed pursuant to the l aws of this state that is
987	1013		exempt from federal income taxation pursuant to either Section 501
988	1014		(c)(3) or Section 509(a) of the Internal Revenue Code of 1986, as
989	1015		amended, and is formed for the primary purpose of supporting a
990	1016		public higher education instit ution. Each public higher education
991	1017		institution foundatio n shall be approved by the governing board of
992	1018		the higher education institution prior to ac cepting qualifying
993	1019		donations.
994	1020		I. J. Total credits authorized by this section shall be
995	1021		allocated as follows:
996	1022		1. By January 10 of the y ear immediately following each
997	1023		calendar year, a scholarship-granting organization, an educational
998	1024		improvement grant organization, an eligible public school
999	1025
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1001	1028		2
1002	1029		3
1003	1030		4
1004	1031		5
1005	1032		6
1006	1033		7
1007	1034		8
1008	1035		9
1009	1036		10
1010	1037		11
1011	1038		12
1012	1039		13
1013	1040		14
1014	1041		15
1015	1042		16
1016	1043		17
1017	1044		18
1018	1045		19
1019	1046		20
1020	1047		21
1021	1048		22
1022	1049		23
1023	1050		24
1024	1051
1025	1052		foundation, or a public school district, or an eligible higher
1026	1053		education institution foundation which accepts contributions
1027	1054		pursuant to this section shall provide electronically to the Tax
1028	1055		Commission information on each contribution accepted during such
1029	1056		taxable year. At least once each taxable year, the entity making
1030	1057		the report shall notify each contributor that Oklahoma law provides
1031	1058		for a total, statewide cap on the amount of i ncome tax credits
1032	1059		allowed annually;
1033	1060		2. a. If the Tax Commission determines the total combined
1034	1061		credits claimed for contributions made to scholarship-
1035	1062		granting organizations during the most recently
1036	1063		completed calendar year by all taxpayers are in excess
1037	1064		of the statewide cap amount provided in paragraphs 1
1038	1065		and 2 of subsection E F of this section, the Tax
1039	1066		Commission shall first allocate any amount of credits
1040	1067		not claimed for contributions made to organizations
1041	1068		authorized pursuant to subsections C and, D, and E of
1042	1069		this section, then shall determine the percentage of
1043	1070		the contribution which establishes the proportionate
1044	1071		share of the credit which may be claimed by any
1045	1072		taxpayer so that the total maximum credits authorized
1046	1073		by this section are not exceeded.
1047	1074		b. If the Tax Commission determines the t otal combined
1048	1075		credits claimed for contributions made to
1049	1076
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1051	1079		2
1052	1080		3
1053	1081		4
1054	1082		5
1055	1083		6
1056	1084		7
1057	1085		8
1058	1086		9
1059	1087		10
1060	1088		11
1061	1089		12
1062	1090		13
1063	1091		14
1064	1092		15
1065	1093		16
1066	1094		17
1067	1095		18
1068	1096		19
1069	1097		20
1070	1098		21
1071	1099		22
1072	1100		23
1073	1101		24
1074	1102
1075	1103		organizations authorized pursuant to subsections C
1076	1104		and, D, and E of this section during the most recently
1077	1105		completed calendar year by all taxpayers are in excess
1078	1106		of the statewide cap amount provided in paragraphs 3
1079	1107		and, 4, and 5 of subsection E F of this section, the
1080	1108		Tax Commission shall first allocate any amount of
1081	1109		credits not claimed for contributions made to
1082	1110		scholarship-granting organizations, then shall
1083	1111		determine the percentage of the contribution which
1084	1112		establishes the proportionate share of the credit
1085	1113		which may be claimed by any taxpayer so that the
1086	1114		maximum credits authorized by this section are not
1087	1115		exceeded.
1088	1116		c. If the Tax Commission determines the total combined
1089	1117		credits claimed for contributions made to
1090	1118		organizations authorized pursuant to subsections C and
1091	1119		D of this section during the most recently completed
1092	1120		calendar year by all taxpayers are in excess of the
1093	1121		per public school district cap of Two Hundred Thousand
1094	1122		Dollars ($200,000.00) pursuant to paragraph 4 of
1095	1123		subsection E F of this section, the Tax Commission
1096	1124		shall first allocate any amount of credits not claimed
1097	1125		for contributions made to other organizations
1098	1126		authorized pursuant to subsections C and D of this
1099	1127
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1101	1130		2
1102	1131		3
1103	1132		4
1104	1133		5
1105	1134		6
1106	1135		7
1107	1136		8
1108	1137		9
1109	1138		10
1110	1139		11
1111	1140		12
1112	1141		13
1113	1142		14
1114	1143		15
1115	1144		16
1116	1145		17
1117	1146		18
1118	1147		19
1119	1148		20
1120	1149		21
1121	1150		22
1122	1151		23
1123	1152		24
1124	1153
1125	1154		section, then shall determine the percentage of the
1126	1155		contribution which establishes the proportionate share
1127	1156		of the credit which may be claimed by any taxpayer so
1128	1157		that the maximum credits authorized by this section
1129	1158		are not exceeded.
1130	1159		d. If the Tax Commission determines the total combined
1131	1160		credits claimed for contributions made to
1132	1161		organizations authorized pursuant to subsection E of
1133	1162		this section during t he most recently completed
1134	1163		calendar year by all taxpayers are in excess of the
1135	1164		per higher education institution cap of Six Million
1136	1165		Dollars ($6,000,000.00) pursuant to paragraph 5 of
1137	1166		subsection F of this section, the Tax Commission shall
1138	1167		first allocate any amount of credits not claimed for
1139	1168		contributions made to other organizations authorized
1140	1169		pursuant to subsection E of this section, then shall
1141	1170		determine the percentage of the contribution which
1142	1171		establishes the proportionate share of the credit
1143	1172		which may be claimed by any taxpayer so that the
1144	1173		maximum credits authorized by this section are not
1145	1174		exceeded.
1146	1175		e. Beginning for tax year 2016, credits earned, but not
1147	1176		allowed due to the application of statewide caps
1148	1177		provided in subsection E F of this section will be
1149	1178
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1151	1181		2
1152	1182		3
1153	1183		4
1154	1184		5
1155	1185		6
1156	1186		7
1157	1187		8
1158	1188		9
1159	1189		10
1160	1190		11
1161	1191		12
1162	1192		13
1163	1193		14
1164	1194		15
1165	1195		16
1166	1196		17
1167	1197		18
1168	1198		19
1169	1199		20
1170	1200		21
1171	1201		22
1172	1202		23
1173	1203		24
1174	1204
1175	1205		considered suspended and authorized to be used in the
1176	1206		next immediate tax year and applied to the next year's
1177	1207		statewide cap; and
1178	1208		3. The Tax Commission shall publish the percentage of the
1179	1209		contribution which may be claimed as a credit by contributors for
1180	1210		the most recently completed calendar year on the Tax Commission
1181	1211		website no later than February 15 of each calendar year for
1182	1212		contributions made the previous year. Each organization authorized
1183	1213		pursuant to subsection s B, C, and D, and E of this section shall
1184	1214		notify contributors of that amount annually.
1185	1215		J. K. No tax credits authorized by this section shall be used
1186	1216		to reduce the tax liability of the taxpayer to less than zero (0).
1187	1217		K. L. Any credits authorized by this section allowed but not
1188	1218		used in any tax year may be carried over, in or der, to each of the
1189	1219		three (3) years following the y ear of qualification.
1190	1220		L. M. 1. In order to qualify under this section, each
1191	1221		organization authorized pursuant to subsections C and, D, and E of
1192	1222		this section shall submit an appl ication with information to the
1193	1223		Oklahoma Tax Commission on a form prescribed by the Tax Commission
1194	1224		that:
1195	1225		a. enables the Tax Commission to confirm that the
1196	1226		organization is a nonprofit entity exempt from
1197	1227		taxation pursuant to the provisions of the Internal
1198	1228
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1200	1231		2
1201	1232		3
1202	1233		4
1203	1234		5
1204	1235		6
1205	1236		7
1206	1237		8
1207	1238		9
1208	1239		10
1209	1240		11
1210	1241		12
1211	1242		13
1212	1243		14
1213	1244		15
1214	1245		16
1215	1246		17
1216	1247		18
1217	1248		19
1218	1249		20
1219	1250		21
1220	1251		22
1221	1252		23
1222	1253		24
1223	1254
1224	1255		Revenue Code, 26 U.S.C., Section 501(c )(3) or Section
1225	1256		509(a), and
1226	1257		b. describes the proposed innovative educational program
1227	1258		or programs supported by the organization.
1228	1259		2. The Tax Commission shall review and approve or disapprove
1229	1260		the application, in consultation with the State Department of
1230	1261		Education or the Oklahoma State Regents for Hig her Education.
1231	1262		3. In order to maintain eligibility under this section, an
1232	1263		organization authorized pursuant to subsections C and D of this
1233	1264		section shall annually report the following information to the Tax
1234	1265		Commission and publish on its website by September 1 of each year:
1235	1266		a. the name of the innovative educational program or
1236	1267		programs and the total amount of the grant or grants
1237	1268		made to those programs during the immediately
1238	1269		preceding school year,
1239	1270		b. a description of how each grant was utilized during
1240	1271		the immediately preceding school year and a
1241	1272		description of any demonstrated or expected innovative
1242	1273		educational improvements,
1243	1274		c. the names of the public school and school districts
1244	1275		where innovative educational programs t hat received
1245	1276		grants during the immediately preceding school year
1246	1277		were implemented,
1247	1278
1248		-	ENGR. H. B. NO. 2318 Page 26 1
	1279	+	HB2318 HFLR Page 26
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1250	1282		3
1251	1283		4
1252	1284		5
1253	1285		6
1254	1286		7
1255	1287		8
1256	1288		9
1257	1289		10
1258	1290		11
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1260	1292		13
1261	1293		14
1262	1294		15
1263	1295		16
1264	1296		17
1265	1297		18
1266	1298		19
1267	1299		20
1268	1300		21
1269	1301		22
1270	1302		23
1271	1303		24
1272	1304
1273	1305		d. where the organization collects information on a
1274	1306		county-by-county basis, and
1275	1307		e. the total number and total amount of grants made
1276	1308		during the immediately preceding school y ear for
1277	1309		innovative educational programs at public school by
1278	1310		each county in which the organization made grants.
1279	1311		4. In order to maintain eligibility under this section, an
1280	1312		organization authorized pursuant to subsection E of this section
1281	1313		shall annually report the following information to the Tax
1282	1314		Commission and publish on its website by September 1 of each year:
1283	1315		a. the name of the higher education institution
1284	1316		scholarship program or programs and the total amount
1285	1317		of funds distributed by the foundation through those
1286	1318		programs during the immediately preceding school year,
1287	1319		b. a description of how the scholarship funds were
1288	1320		utilized during the immediately preceding school year,
1289	1321		and
1290	1322		c. the total number and total amount of scholarships
1291	1323		granted during the immediately preceding school y ear.
1292	1324		5. The information required under paragraph paragraphs 3 and 4
1293	1325		of this subsection shall be submitted on a form provided by the Tax
1294	1326		Commission. No later than May 1 of each year, the Tax Commission
1295	1327		shall annually distribute sample forms together with the forms on
1296	1328
1297		-	ENGR. H. B. NO. 2318 Page 27 1
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1299	1332		3
1300	1333		4
1301	1334		5
1302	1335		6
1303	1336		7
1304	1337		8
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1309	1342		13
1310	1343		14
1311	1344		15
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1317	1350		21
1318	1351		22
1319	1352		23
1320	1353		24
1321	1354
1322	1355		which the reports are required to be made to each approved
1323	1356		organization.
1324	1357		5. 6. The Tax Commission shall not require any other
1325	1358		information be provided by an organization, except as expressly
1326	1359		authorized in this section.
1327	1360		M. N. 1. Beginning in 2023 for the 2022-2023 academic year, in
1328	1361		order to maintain registration, a scholarship-granting organization
1329	1362		shall annually report to the Tax Commission by Septembe r 1 of each
1330	1363		year the following information regarding the educational
1331	1364		scholarships funded by the organization in the previous academic
1332	1365		year:
1333	1366		a. the name and address of the scholarship-granting
1334	1367		organization,
1335	1368		b. the names of the qualifying schools that receiv ed
1336	1369		funding for educational scholarships, the total amount
1337	1370		of funds paid to each qualifying school, and the total
1338	1371		number of scholarship recipients enrolled in each
1339	1372		qualifying school,
1340	1373		c. the total number and total dollar amount of
1341	1374		contributions received duri ng the previous academic
1342	1375		year,
1343	1376		d. the total number and total dollar amount of
1344	1377		educational scholarships awarded and funded during the
1345	1378		previous academic year,
1346	1379
1347		-	ENGR. H. B. NO. 2318 Page 28 1
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1348	1382		2
1349	1383		3
1350	1384		4
1351	1385		5
1352	1386		6
1353	1387		7
1354	1388		8
1355	1389		9
1356	1390		10
1357	1391		11
1358	1392		12
1359	1393		13
1360	1394		14
1361	1395		15
1362	1396		16
1363	1397		17
1364	1398		18
1365	1399		19
1366	1400		20
1367	1401		21
1368	1402		22
1369	1403		23
1370	1404		24
1371	1405
1372	1406		e. the total number, total dollar amount, and percentage
1373	1407		of educational scholarships awarded and fu nded during
1374	1408		the previous academic year disaggregated into the
1375	1409		following categories:
1376	1410		(1) low-income eligible students,
1377	1411		(2) students who during the immediately preceding
1378	1412		school year attended or who were eligible by
1379	1413		virtue of the residence of the student to a ttend
1380	1414		a public school in the state which was identified
1381	1415		for school improvement by the State Board of
1382	1416		Education,
1383	1417		(3) eligible special needs students, and
1384	1418		(4) students who were first-time recipients of a
1385	1419		scholarship including information about the type
1386	1420		of public or private school the student was
1387	1421		enrolled in during the entire previous academic
1388	1422		year,
1389	1423		f. the percentage of annual revenue received by the
1390	1424		organization from donations which qualify for tax
1391	1425		credits pursuant to this section which was not
1392	1426		expended on scholarships,
1393	1427		g. disaggregated data reported under this subsection
1394	1428		shall be redacted if reporting would allow for
1395	1429		identification of specific children, and shall be
1396	1430
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1399	1434		3
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1417	1452		21
1418	1453		22
1419	1454		23
1420	1455		24
1421	1456
1422	1457		reported in accordance with the Student Data
1423	1458		Accessibility, Transparency and Accountability Ac t of
1424	1459		2013, division subparagraph b of subparagraph
1425	1460		paragraph 2 of subsection C of Section 3-168 of Title
1426	1461		70 of the Oklahoma Statutes, and the Family
1427	1462		Educational Rights and Privacy Act of 1974 (FERPA), 20
1428	1463		U.S.C., Section 1232g, and
1429	1464		h. the percentage of the total amount of education
1430	1465		scholarship expenditures spent on low-income eligible
1431	1466		students.
1432	1467		2. The Tax Commission shall make available on its website:
1433	1468		a. the information submitted by the scholarship-granting
1434	1469		organization pursuant to paragraph 1 of this
1435	1470		subsection,
1436	1471		b. a list of participating schools, and
1437	1472		c. all other application information submitted to the Tax
1438	1473		Commission by a scholarship-granting organization,
1439	1474		except that information which would violate the
1440	1475		privacy of an individual.
1441	1476		3. A scholarship-granting organization shall annually submit
1442	1477		verification to the Tax Commission that the organization still meets
1443	1478		the criteria set forth in paragraph 7 of subsection H I of this
1444	1479		section.
1445	1480
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1448	1484		3
1449	1485		4
1450	1486		5
1451	1487		6
1452	1488		7
1453	1489		8
1454	1490		9
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1456	1492		11
1457	1493		12
1458	1494		13
1459	1495		14
1460	1496		15
1461	1497		16
1462	1498		17
1463	1499		18
1464	1500		19
1465	1501		20
1466	1502		21
1467	1503		22
1468	1504		23
1469	1505		24
1470	1506
1471	1507		N. O. Contributions made pursuant to subsections B, C, and D of
1472	1508		this section shall not be used by the Legislature to reduce the
1473	1509		amount appropriated for the financial support of public schools.
1474	1510		O. P. In consultation with the State Department of Education
1475	1511		and the Oklahoma State Regents for Higher Education, the Tax
1476	1512		Commission shall promulgate rules necessary to implement the
1477	1513		Oklahoma Equal Opportunity Education Scholarship Act. The rules
1478	1514		shall include procedures for the registration of a scholarship-
1479	1515		granting organization, an educational improvement grant
1480	1516		organization, a public school foundation, or public school district,
1481	1517		or public higher education institution foundation for purposes of
1482	1518		determining if the organization meets the requirements of the
1483	1519		Oklahoma Equal Opportunity Education Scholarship Act or for the
1484	1520		revocation of the registration of an organization, if applicable,
1485	1521		and for notice as required in subsection I J of this section.
1486	1522		SECTION 2. It being immediately necess ary for the preservatio n
1487	1523		of the public peace, health or safety, an emergency is hereby
1488	1524		declared to exist, by reason whereof this act shall take effect and
1489	1525		be in full force from and after it s passage and approval.
1490	1526
1491		-
1492		-	ENGR. H. B. NO. 2318 Page 31 1
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1516		-
1517		-	Passed the House of Representatives the 9th day of March, 2023.
1518		-
1519		-
1520		-
1521		-
1522		-	Presiding Officer of the House
1523		-
1524		-	of Representatives
1525		-
1526		-
1527		-	Passed the Senate the ___ day of __________, 2023.
1528		-
1529		-
1530		-
1531		-
1532		-	Presiding Officer of the Senate
1533		-
1534		-
	1527	+	COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS AND BUDGET, dated
	1528	+	03/06/2023 - DO PASS, As Amended and Coauthored.