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STATE OF OKLAHOMA
2nd Session of the 59th Legislature (2024)
HOUSE BILL 3806 By: Burns
AS INTRODUCED
An Act relating to revenue and taxation; providing
income tax credit to certain members of the Oklahoma
National Guard; specifying amount of credit;
providing credit not to be used to reduce t ax
liability to less than designated amount; authorizing
carryover; providing for codification; and providing
an effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 2357.701 of Title 68, unless
there is created a duplication in numbering, reads as follows:
For taxable years beginning on o r after January 1, 202 5, there
shall be allowed as a credit against the tax imposed pursuant to
Section 2355 of Title 68 of the Oklahoma Statutes in the amount of
One Thousand Five Hundred Dollars ($1,500.00) for a member of the
Oklahoma National Guard who resides outside a fifty-mile radius from
their assigned home stat ion.
B. The credit authorized by this section shall not be used to
reduce the income tax liability to less than zero (0).
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C. To the extent not used, the credit authorized by this
section may be carried over, in order, to each of the five (5)
subsequent taxable years.
SECTION 2. This act shall become effective November 1, 2024.
59-2-9474 MAH 01/12/24