OK
Oklahoma Senate Bill SB285

Oklahoma 2025 Regular Session

Oklahoma Senate Bill SB285 Compare Versions

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5353 STATE OF OKLAHOMA
5454
5555 1st Session of the 60th Legislature (2025)
5656
5757 SENATE BILL 285 By: Pugh
5858
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6363 AS INTRODUCED
6464
6565 An Act relating to income tax; amending 68 O.S. 2021,
6666 Section 2357.206, as amended by Section 1, Chapter
6767 49, O.S.L. 2022 (68 O.S. Supp. 202 4, Section
6868 2357.206), which relates to the Oklahoma Equal
6969 Opportunity Education Scholarship Act; providing tax
7070 credit for contributions to certain higher education
7171 institution foundations; limiting credit amount;
7272 providing for reduction of credit when cap is
7373 exceeded; providing credit amount upon certain
7474 commitment of additional con tribution; prescribing
7575 allocation of credit claimed by certain entities;
7676 requiring submission of audited statement; limiting
7777 total credits claimed for tax year; limiting credits
7878 claimed for tax year for contributions to higher
7979 education institutions; modifying definition;
8080 defining terms; providing for allocation of unclaimed
8181 credit upon certain determination by the Oklahoma Tax
8282 Commission; requiring submission of report to
8383 maintain certain eligibility; adding consulting
8484 entity for promulgation of rules; upd ating statutory
8585 language; updating statutory references; and
8686 providing an effective date .
8787
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9191 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
9292 SECTION 1. AMENDATORY 68 O.S. 2021, Section 2357.206, as
9393 amended by Section 1, Chapter 49, O.S.L. 2022 (68 O.S. Supp. 2024,
9494 Section 2357.206), is amended to read as follows:
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146146 Section 2357.206. A. This act shall be known and may be cited
147147 as the “Oklahoma Equal Opportunity Education Scholarship Act ”.
148148 B. 1. Except as provided in subsection G H of this section,
149149 after August 26, 2011, there shall be allowed a credit for any
150150 taxpayer who makes a contribution to an eligible scholarship -
151151 granting organization .
152152 The credit shall be equal to fifty percent (50%) of the total
153153 amount of contributions made during a taxable year, not to exceed
154154 One Thousand Dollars ($1,000.00) for single individuals, Two
155155 Thousand Dollars ($2,000.00) for married individuals filing joint ly,
156156 or One Hundred Thousand Dollars ($100,000.00) for any taxpayer which
157157 is a legal business entity including limited and general
158158 partnerships, corporations, subchapter S corporations and limited
159159 liability companies, plus any suspended credits pursuant to
160160 subparagraph d e of paragraph 2 of subsection I J of this section;
161161 provided, if total credits claimed pursuant to this paragraph exceed
162162 the cap amount established pursuant to paragraphs 1 and 2 of
163163 subsection E F of this section, the credit shall be equal t o the
164164 taxpayer’s proportionate share of the cap for the taxable year, as
165165 determined pursuant to subsection I J of this section.
166166 2. For any taxpayer who makes a contribution to an eligible
167167 scholarship-granting organization and makes a written commitment to
168168 contribute the same amount for an additional year, the credit for
169169 the first year and the additional year shall be equal to seventy -
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221221 five percent (75%) of the total amount of the contribution made
222222 during a taxable year, not to exceed the amounts established in
223223 paragraph 1 of this subsection for the taxable year in which the
224224 credit provided in this subsection is claimed. The taxpayer shall
225225 provide evidence of the written commitment to the Oklahoma Tax
226226 Commission at the time of filing the refund claim.
227227 3. The credits authorized pursuant to the provisions of this
228228 subsection shall be allocable to the partners, shareholders,
229229 members, or other equity owners of a taxpayer that is authorized to
230230 be treated as a partnership for purposes of federal income tax
231231 reporting for the taxable year for which the tax credits authorized
232232 by this subsection are claimed on the applicable return, together
233233 with required schedules, forms or reports of the partners,
234234 shareholders, members, or other equity owners of the taxpayer. Tax
235235 credits which are allocated to such equity owners shall only be
236236 limited in amount for the income tax return of a natural person or
237237 persons based upon the limitation of the total credit amount to the
238238 entity from which the tax credits have been allocated and sh all not
239239 be limited to One Thousand Dollars ($1,000.00) for single
240240 individuals or limited to Two Thousand Dollars ($2,000.00) for
241241 married persons filing a joint return.
242242 4. On or before April 30, 2024, and once every two (2) years
243243 thereafter, such scholarsh ip-granting organization and educational
244244 improvement grant organization shall electronically submit to the
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296296 Oklahoma Tax Commission, the Governor, President Pro Tempore of the
297297 Senate, the Speaker of the House of Representatives, and the chairs
298298 chair and vice chairs chair of the education committees of the
299299 Senate and House of Represen tatives Education Committee of the
300300 Senate, the Common Education Committee of the House of
301301 Representatives, and the Higher Education and Career Tech Committee
302302 of the House of Repr esentatives an audited financial statement for
303303 the organization along with information detailing the benefits,
304304 successes, or failures of the program, and make publicly available
305305 on its website the financial statement and information submitted
306306 pursuant to this paragraph.
307307 C. 1. Except as provided in subsection G H of this section,
308308 after August 26, 2011, there shall be allowed a credit for any
309309 taxpayer who makes a contribution to an eligible educational
310310 improvement grant organization. Except as otherwise pr ovided by
311311 paragraph 2 of this subsection, the credit shall be equal to fifty
312312 percent (50%) of the total amount of contributions made during a
313313 taxable year, not to exceed One Thousand Dollars ($1,000.00) for
314314 single individuals, Two Thousand Dollars ($2,000. 00) for married
315315 individuals filing jointly, or One Hundred Thousand Dollars
316316 ($100,000.00) for any taxpayer which is a legal business entity
317317 including limited and general partnerships, corporations, subchapter
318318 S corporations, and limited liability companies , plus any suspended
319319 credits pursuant to subparagraph d e of paragraph 2 of subsection I
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371371 J of this section; provided, if total credits claimed pursuant to
372372 this paragraph exceed the cap amount established pursuant to
373373 paragraphs 3 and 4 of subsection E F of this section, the credit
374374 shall be equal to the taxpayer ’s proportionate share of the cap for
375375 the taxable year, as determined pursuant to subsection I J of this
376376 section.
377377 2. For any taxpayer who makes a contribution to an eligible
378378 educational improvement gr ant organization and makes a written
379379 commitment to contribute the same amount for an additional year, the
380380 credit for the first year and the additional year shall be equal to
381381 seventy-five percent (75%) of the total amount of the contribution
382382 made during a taxable year, not to exceed the cap amount established
383383 in paragraphs 3 and 4 of subsection E F of this section for the
384384 taxable year in which the credit provided in this paragraph is
385385 claimed; provided, if total credits claimed pursuant to this
386386 paragraph exceed the cap established pursuant to paragraphs 3 and 4
387387 of subsection E F of this section, the credit shall be equal to the
388388 taxpayer’s proportionate share of the cap for the taxable year, as
389389 determined pursuant to subsection I J of this section. The taxpaye r
390390 shall provide evidence of the written commitment to the Oklahoma Tax
391391 Commission at the time of filing the refund claim.
392392 3. The credits authorized pursuant to the provisions of this
393393 subsection shall be allocable to the partners, shareholders,
394394 members, or other equity owners of a taxpayer that is authorized to
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446446 be treated as a partnership for purposes of federal income tax
447447 reporting for the taxable year for which the tax credits authorized
448448 by this subsection are claimed on the applicable return, together
449449 with required schedules, forms, or reports of the partners,
450450 shareholders, member s, or other equity owners of the taxpayer. Tax
451451 credits which are allocated to such equity owners shall only be
452452 limited in amount for the income tax return of a natural person or
453453 persons based upon the limitation of the total credit amount to the
454454 entity from which the tax credits have been allocated and shall not
455455 be limited to One Thousand Dollars ($1,000.00) for single
456456 individuals or limited to Two Thousand Dollars ($2,000.00) fo r
457457 married persons filing a joint return.
458458 D. 1. For contributions made on or after January 1, 2022,
459459 there shall be allowed a credit for any taxpayer who makes a
460460 contribution to an eligible public school foundation or public
461461 school district. Except as oth erwise provided by paragraph 2 of
462462 this subsection, the credit shall be equal to fifty percent (50%) of
463463 the total amount of contributions made during a taxable year, not to
464464 exceed One Thousand Dollars ($1,000.00) for single individuals, Two
465465 Thousand Dollars ($2,000.00) for married individuals filing jointly,
466466 or One Hundred Thousand D ollars ($100,000.00) for any taxpayer which
467467 is a legal business entity including limited and general
468468 partnerships, corporations, subchapter S corporations , and limited
469469 liability companies; provided, if total credits claimed pursuant to
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521521 this paragraph exceed the cap amount established pursuant to
522522 paragraph 4 of subsection E F of this section, the credit shall be
523523 equal to the taxpayer ’s proportionate share of the cap for the
524524 taxable year, as determined pursuant to subsection I J of this
525525 section.
526526 2. Except as otherwise provided by paragraph 1 of this
527527 subsection, for any taxpayer who makes a contribution to an eligible
528528 public school foundation or public school district and makes a
529529 written commitment to contribute the same amount for an additional
530530 year, the credit for the first year and the additional year shall be
531531 equal to seventy-five percent (75%) of the total amount of the
532532 contribution made during a taxable year, not to exceed the c ap
533533 amount established in paragraph 4 of subsection E F of this section
534534 for the taxable year in which the credit provided in this paragraph
535535 is claimed. The taxpayer shall provide evidence of the written
536536 commitment to the Oklahoma Tax Commission at the time of filing the
537537 refund claim; provided, if total credits claimed pursuant to this
538538 paragraph exceed the cap amount established pursuant to paragraph 4
539539 of subsection E F of this section, the credit shall be equal to the
540540 taxpayer’s proportionate share of the c ap for the taxable year, as
541541 determined pursuant to subsection I J of this section.
542542 3. The credits authorized pursuant to the provisions of this
543543 subsection shall be allocable to the partners, shareholders,
544544 members, or other equity owners of a taxpayer that is authorized to
545545
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596596 be treated as a partnership for purposes of federal income tax
597597 reporting for the taxable year for which the tax credits authorized
598598 by this subsection are claimed on the applicable return, together
599599 with required schedules, forms, or report s of the partners,
600600 shareholders, members, or other equity owners of the taxpay er. Tax
601601 credits which are allocated to such equity owners shall only be
602602 limited in amount for the income tax return of a natural person or
603603 persons based upon the limitation of t he total credit amount to the
604604 entity from which the tax credits have been allocated and shall not
605605 be limited to One Thousand Dollars ($1,000.00) for single
606606 individuals or limited to Two Thousand Dollars ($2,000.00) for
607607 married persons filing a joint return .
608608 4. On or before April 30, 2024, and once every four (4) years
609609 thereafter, such eligible public school foundation and public school
610610 district shall submit to the Oklahoma Tax Commission, the Governor,
611611 President Pro Tempore of the Senate, and the Speaker o f the House of
612612 Representatives an audited financial statement for the organization
613613 along with information detailing the benefits, successes, or
614614 failures of the programs.
615615 E. 1. For contributions made on or after January 1, 2025,
616616 there shall be allowed a c redit for any taxpayer who makes a
617617 contribution to an eligible higher educatio n institution foundation.
618618 Except as otherwise provided by paragraph 2 of this subsection, the
619619 credit shall be equal to fifty percent (50%) of the total amount of
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671671 contributions made during a taxable year, not to exceed One Thousand
672672 Dollars ($1,000.00) for single individuals, Two Thousand Dollars
673673 ($2,000.00) for married individuals filing jointly, or One Hundred
674674 Thousand Dollars ($100,000.00) for any taxpayer which is a legal
675675 business entity including limited and general partnerships,
676676 corporations, subchapte r S corporations, and limited liability
677677 companies; provided, if total credits claimed pursuant to this
678678 paragraph exceed the cap amount established pursuant to paragraph 5
679679 of subsection F of this section, the credit shall be equal to the
680680 taxpayer’s proportionate share of the cap for the taxable year, as
681681 determined pursuant to subsection J of this section.
682682 2. Except as otherwise provided by paragraph 1 of this
683683 subsection, for any t axpayer who makes a contribution to an eligible
684684 higher education institution f oundation and makes a written
685685 commitment to contribute the same amount for an additional year, the
686686 credit for the first year and the additional year shall be equal to
687687 seventy-five percent (75%) of the total amount of the contribution
688688 made during a taxable year, not to exceed the cap amount established
689689 in paragraph 5 of subsection F of this section for the tax year in
690690 which the credit provided in this paragraph is claimed. The
691691 taxpayer shall provide evidence of the written commitment to the
692692 Oklahoma Tax Commission at the time of filing the refund claim;
693693 provided, if total credits claimed pursuant to this paragraph exceed
694694 the cap amount established pursuant to paragraph 5 of subsect ion F
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746746 of this section, the credit shall be equal to the proportionate
747747 share of the cap for the taxable year, as determined pursuant to
748748 subsection J of this section.
749749 3. The credits authorized pursuant to the provisions of this
750750 subsection shall be allocable to the partners, shareholders,
751751 members, or other equity owners of a taxpayer that is authorized to
752752 be treated as a partnership for purposes of federal income tax
753753 reporting for the taxable year for which the tax credits authorized
754754 by this subsection are cl aimed on the applicable return, together
755755 with required schedules, forms, or reports of the partners,
756756 shareholders, members, or other equity owners of the taxpayer. Tax
757757 credits which are allocated to the equity owners shall be limited
758758 only in the amount for the income tax return of a natural person or
759759 persons based upon the limitati on of the total credit amount to the
760760 entity from which the tax credits have been allocated and shall not
761761 be subject to the limitations for single filers or married persons
762762 filing a joint return as provided in paragraph 1 of this subsection .
763763 4. On or before April 30, 202 7, and once every four (4) years
764764 thereafter, each eligible higher education institution foundation
765765 shall submit to the Oklahoma Tax Commission, the Governor, the
766766 President Pro Tempore of the Senate, and the Speaker of the House of
767767 Representatives an audited financial statement for the foundation
768768 along with information detailing the benefits, successes, or
769769 failures of the program.
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821821 F. Except as otherwise provided pur suant to subsection I J of
822822 this section:
823823 1. The total credits authorized pursuant to subsection B of
824824 this section for all taxpayers for tax years 2017 through 2021 shall
825825 not exceed Three Million Five Hundred Thousand Dollars
826826 ($3,500,000.00) annually;
827827 2. The total credits authorized pursuant to subsection B of
828828 this section for all taxpayers for tax years year 2022 and
829829 subsequent tax years shall not exceed Twenty -five Million Dollars
830830 ($25,000,000.00) annually;
831831 3. The total credits authorized pursuant to su bsection C of
832832 this section for all taxpayers for tax years 2017 through 2021 shall
833833 not exceed One Million Five Hundred Thousand Dollars ($1,500,000.00)
834834 annually;
835835 4. The total credits authorized pursuant to subsections C and D
836836 of this section for all taxpa yers for tax year 2022 and subsequent
837837 tax years shall not exceed Twenty -five Million Dollars
838838 ($25,000,000.00) annually. In Except as otherwise provided pursuant
839839 to subparagraph c of paragraph 2 of subsection J of this section, in
840840 addition to the cap amoun t prescribed by this paragraph, the credit
841841 amount shall also be limited to Two Hundred Thousand Dollars
842842 ($200,000.00) of credits per public school district annually; and
843843 5. The total credits authorized pursuant to subsection E of
844844 this section for all taxp ayers for tax year 2025 and subsequent tax
845845
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896896 years shall not exceed Twenty -five Million Dollars ($25,000,000.00)
897897 annually. Except as otherwise provided pursuant to subparagraph d
898898 of paragraph 2 of subsection J of this section, in addition to the
899899 cap amount prescribed by this paragraph, the credit amount shall
900900 also be limited to Seven Million Five Hundred Thousand Dollars
901901 ($7,500,000.00) of credits per public higher education institution
902902 annually; and
903903 6. The cap on total credits provided for in this subsecti on
904904 shall be allocated by the Tax Commission as provided in subsection I
905905 J of this section.
906906 F. G. For credits claimed for eligible contributions made
907907 during tax year 2014 and thereafter, a credit shall not be allowed
908908 by the Oklahoma Tax Commission for cont ributions made to a
909909 scholarship-granting organization or an educational improvement
910910 grant organization if that organization ’s percentage of funds
911911 actually awarded is less than ninety percent (90%). For purposes of
912912 this section, the “percentage of funds ac tually awarded” shall be
913913 determined by dividing the total amount of funds actu ally awarded as
914914 educational scholarships or educational improvement grants over the
915915 most recent twenty-four (24) months by the total amount available to
916916 award as educational scho larships or educational improvement grants
917917 over the most recent twenty -four (24) months.
918918 G. H. Any tax credits which are earned by a taxpayer pursuant
919919 to this section during the time period beginning August 26, 2011,
920920
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971971 through December 31, 2012, may not be claimed for any period prior
972972 to the taxable year beginning January 1, 2013. N o credits which
973973 accrue during the time period beginning August 26, 2011, through
974974 December 31, 2012, may be used to file an amended tax return for any
975975 taxable year prior to the ta xable year beginning January 1, 2013.
976976 H. I. As used in this section:
977977 1. “Eligible student” means a child of school age who is
978978 lawfully present in the United States and who is a member of a
979979 household in which the total annual income during the preceding t ax
980980 year does not exceed an amount equal to three hundred percent (300%)
981981 of the income standard used to qualify for a free or reduced -price
982982 school lunch or who, during the immediately preceding school year,
983983 attended or, by virtue of the location of such stu dent’s place of
984984 residence, was eligible to attend a public school in this state
985985 which has been identified for school improvement as determined by
986986 the State Board of Education pursuant to the requirements of the No
987987 Child Left Behind Act of 2001, P.L. No. 10 7-110. Once a student has
988988 received an educational scholarship, as defined in paragraph 3 of
989989 this subsection, the student and any siblings who are members of the
990990 same household shall remain eligible until they graduate from high
991991 school or reach twenty -one (21) years of age, whichever occurs
992992 first;
993993 2. “Eligible special needs student ” means a child who has been
994994 provided services under an Individualized Family Service Plan
995995
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10461046 individualized family service plan through the SoonerStart program
10471047 and during transitio n was evaluated and determined to be eligible
10481048 for school district services, a child of school age who has attended
10491049 public school in our state with an individualized education program
10501050 pursuant to the Individuals With Disabilities Education Act, 20
10511051 U.S.C.A., Section 1400 et seq., or a child who has been diagnosed by
10521052 a clinical professional as having a significant disability that will
10531053 affect learning and who has been approved by the board of a
10541054 scholarship-granting organization;
10551055 3. “Educational scholarships ” means:
10561056 a. scholarships to an eligible student of up to Five
10571057 Thousand Dollars ($5,000.00) or eighty percent (80%)
10581058 of the statewide annual average per -pupil expenditure
10591059 as determined by the National Center for Education
10601060 Statistics, U.S. Department of Educatio n, whichever is
10611061 greater, to cover all or part of the tuition, fees,
10621062 and transportation costs of a qualified school which
10631063 is accredited by the State Board of Education or an
10641064 accrediting association approved by the Board pursuant
10651065 to Section 3-104 of Title 70 of the Oklahoma Statutes,
10661066 b. scholarships to an eligible student of up to Fiv e
10671067 Thousand Dollars ($5,000.00) or eighty percent (80%)
10681068 of the statewide annual average per -pupil expenditure
10691069 as determined by the National Center for Education
10701070
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11211121 Statistics, U.S. Department of Education, whichever is
11221122 greater, to cover the educational costs of a qualified
11231123 school which does not charge tuition, which enrolls
11241124 special populations of students, and which is
11251125 accredited by the State Board of Education or an
11261126 accrediting association approved by the Board pursuant
11271127 to Section 3-104 of Title 70 of the Okla homa Statutes,
11281128 or
11291129 c. scholarships to an eligible special needs student of
11301130 up to Twenty-five Thousand Dollars ($25,000.00) to
11311131 cover all or part of the tuition, fees, and
11321132 transportation costs of a qualified school for
11331133 eligible special needs students which is accredited by
11341134 the State Board of Education or an accrediting
11351135 association approved by the Board pursuant to Section
11361136 3-104 of Title 70 of the Oklahoma Statutes , or
11371137 d. scholarships to an eligible public higher education
11381138 institution student to cover all or pa rt of the
11391139 tuition and fees for undergraduate courses at an
11401140 institution authorized by the Oklahoma State Regents
11411141 for Higher Education ;
11421142 4. “Low-income eligible student ” means an eligible student or
11431143 eligible special needs student who qualifies for a free or reduced -
11441144 price lunch;
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11961196 5. “Qualified school” means an early childhood, elementary, or
11971197 secondary private school in this state including schools which
11981198 provide special educational pr ograms for three-year-olds or
11991199 prekindergarten educational programs for four -year-olds, which:
12001200 a. is accredited by the State Board of Education or an
12011201 accrediting association approved by the Board pursuant
12021202 to Section 3-104 of Title 70 of the Oklahoma Statute s,
12031203 b. is in compliance with all applicable health and safety
12041204 laws and codes,
12051205 c. has a stated policy against discrimination in
12061206 admissions on the basis of race, color, national
12071207 origin, or disability, and
12081208 d. ensures academic accountability to parents and
12091209 guardians of students through regular progress
12101210 reports;
12111211 6. “Qualified school for eligible special needs students ” means
12121212 an early childhood, elementary, or secondary private school in a
12131213 county in this state including schools which provide special
12141214 educational programs for three-year-olds or prekindergarten
12151215 educational programs for four -year-olds;
12161216 7. “Scholarship-granting organization ” means an organization
12171217 which:
12181218
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12691269 a. is a nonprofit entity exempt from taxation pursuant to
12701270 the provisions of the Internal Revenue Co de of 1986,
12711271 as amended, 26 U.S.C., Section 501(c)(3),
12721272 b. distributes periodic scholarship payments as checks
12731273 made out to an eligible student ’s or eligible special
12741274 needs student’s parent or guardian and mailed to the
12751275 qualified school where the student is en rolled,
12761276 c. spends no more than ten percent (10%) of its annual
12771277 revenue on expenditures other than educational
12781278 scholarships as defined in paragraph 3 of this
12791279 subsection,
12801280 d. spends each year a portion of its expenditures on
12811281 educational scholarships for low -income eligible
12821282 students, as defined in paragraph 4 of this
12831283 subsection, in an amount equal to or greater than the
12841284 percentage of low-income eligible students in the
12851285 state,
12861286 e. ensures that scholarships are portable during the
12871287 school year and can be used at an y qualified school
12881288 that accepts the eligible student or at any qualified
12891289 school for special needs students that accepts the
12901290 eligible special needs student,
12911291 f. registers with the Oklahoma Tax Commission as a
12921292 scholarship-granting organization, and
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13441344 g. has policies in place to:
13451345 (1) carry out criminal background checks on all
13461346 employees and board members to ensure that no
13471347 individual is involved with the organization who
13481348 might reasonably pose a risk to the appropriate
13491349 use of contributed funds, and
13501350 (2) maintain full and accurate records with respect
13511351 to the receipt of contributions and expenditures
13521352 of those contributions and supply such records
13531353 and any other documentation required by the Tax
13541354 Commission to demonstrate financial
13551355 accountability;
13561356 8. “Annual revenue” means the total amount or value of
13571357 contributions received by an organization from taxpayers awarded
13581358 credits during the organization ’s fiscal year and all amounts earned
13591359 from interest or investments;
13601360 9. “Public school” means public schools as defined in Secti on
13611361 1-106 of Title 70 of the Oklahoma Statutes;
13621362 10. “Eligible public school district ” means any public school;
13631363 11. “Early childhood education program ” means a special
13641364 educational program for eligible special needs students who are
13651365 three (3) years of age o r a prekindergarten educational program
13661366 provided to children who are at least four (4) years of age but not
13671367 more than five (5) years of age on or before September 1;
13681368
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14191419 12. “Innovative educational program ” means an advanced academic
14201420 or academic improvement p rogram that is not part of the regular
14211421 coursework of a public school but that enhances the curriculum or
14221422 academic program of the school or provides early childhood education
14231423 programs to students;
14241424 13. “Educational improvement grant ” means a grant to an
14251425 eligible public school to implement an innovative educational
14261426 program for students including the ability for multiple public
14271427 schools to make an application and be awarded a grant to jointly
14281428 provide an innovative educational program;
14291429 14. “Educational improvem ent grant organization ” means an
14301430 organization which:
14311431 a. is a nonprofit entity exempt from taxation pursuant to
14321432 the provisions of the Internal Revenue Code of 1986,
14331433 as amended, 26 U.S.C., Section 501(c)(3), and
14341434 b. contributes at least ninety percent (90%) o f its
14351435 annual receipts as grants to eligible schools for
14361436 innovative educational programs. For purposes of this
14371437 subparagraph, an educational improvement grant
14381438 organization contributes its annual cash receipts when
14391439 it expends or otherwise irrevocably encumbe rs those
14401440 funds for expenditure during the then current fiscal
14411441 year of the organization or during the next succeeding
14421442 fiscal year of the organization; and
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14941494 15. “Eligible public school foundation ” means a nonprofit
14951495 entity formed pursuant to the laws of this state and is exempt from
14961496 federal income taxation pursuant to either Section 50 1(c)(3) or
14971497 Section 509(a) of the Internal Revenue Code of 1986, as amended.
14981498 Each public school foundation must shall be approved by the local
14991499 board of education prior to accepti ng qualifying donations ;
15001500 16. “Eligible public higher education institution student ”
15011501 means a student who is enrolled in a public higher education
15021502 institution in the state, who is lawfully present in the United
15031503 States, and who is a member of a household in which the total annual
15041504 income during the preceding tax year does not exceed an amount equal
15051505 to three hundred percent (300%) of the income standard used to
15061506 qualify for a free or reduced -price school lunch; and
15071507 17. “Eligible higher education institution fou ndation” means a
15081508 nonprofit entity formed pursuant to the laws of this state that is
15091509 exempt from federal income taxation pursuant to either Section
15101510 501(c)(3) or Section 509(a) of the Internal Revenue Code of 1986, as
15111511 amended, and is formed for the primary p urpose of supporting a
15121512 public higher education institution. Each public highe r education
15131513 institution foundation shall be approved by the governing board of
15141514 the higher education institution prior to accepting qualifying
15151515 donations.
15161516 I. J. Total credits authorized by this section shall be
15171517 allocated as follows:
15181518
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15691569 1. By January 10 of the year immediately following each
15701570 calendar year, a scholarship -granting organization, an educational
15711571 improvement grant organization, an eligible public school
15721572 foundation, or a public school district, or an eligible higher
15731573 education institution foundation which accepts contributions
15741574 pursuant to this section shall provide electronically to the Tax
15751575 Commission information on each contribution accepted during such
15761576 taxable year. At leas t once each taxable year, the entity making
15771577 the report shall notify each contributor that Oklahoma law provides
15781578 for a total, statewide cap on the amount of income tax credits
15791579 allowed annually;
15801580 2. a. If the Tax Commission determines the total combined
15811581 credits claimed for contributions made to scholarship -
15821582 granting organizations during the most recently
15831583 completed calendar year by all taxpayers are in excess
15841584 of the statewide cap amount provided in paragraphs 1
15851585 and 2 of subsection E F of this section, the Tax
15861586 Commission shall first allocate any amount of credits
15871587 not claimed for contributions made to organizations
15881588 authorized pursuant to subsections C and, D, and E of
15891589 this section, then shall determine the percentage of
15901590 the contribution which establishes the propor tionate
15911591 share of the credit which may be claimed by any
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16431643 taxpayer so that the t otal maximum credits authorized
16441644 by this section are not exceeded.
16451645 b. If the Tax Commission determines the total combined
16461646 credits claimed for contributions made to
16471647 organizations authorized pursuant to subsections C
16481648 and, D, and E of this section during the most recently
16491649 completed calendar year by all taxpayers are in excess
16501650 of the statewide cap amount provided in paragraphs 3
16511651 and, 4, and 5 of subsection E F of this section, the
16521652 Tax Commission shall first allocate any amount of
16531653 credits not claimed for contribu tions made to
16541654 scholarship-granting organizations, then shall
16551655 determine the percentage of the contribution which
16561656 establishes the proportionate share of the credit
16571657 which may be claimed by any taxpayer so that the
16581658 maximum credits authorized by this section are not
16591659 exceeded.
16601660 c. If the Tax Commission determines the total combined
16611661 credits claimed for contributions made to
16621662 organizations authorized pursuant to subsections C and
16631663 D of this section during the most recently completed
16641664 calendar year by all taxpayers are in excess of the
16651665 per public school district cap pursuant to paragraph 4
16661666 of subsection E F of this section, the Tax Commission
16671667
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17181718 shall first allocate any amount of credits not claim ed
17191719 for contributions made to other organizations
17201720 authorized pursuant to subsections C and D of this
17211721 section, then shall determine the percentage of the
17221722 contribution which establishes the proportionate share
17231723 of the credit which may be claimed by any taxpaye r so
17241724 that the maximum credits authorized by this section
17251725 are not exceeded.
17261726 d. If the Tax Commission determines the total combined
17271727 credits claimed for contributions made to
17281728 organizations authorized pursuant to subsection E of
17291729 this section during the most re cently completed
17301730 calendar year by all taxpayers are in excess of the
17311731 per higher education institution cap provided in
17321732 paragraph 5 of subsection F of this section, the Tax
17331733 Commission shall first allocate any amount of credits
17341734 not claimed for contributions m ade to other
17351735 organizations authorized pursuant to subsection E of
17361736 this section, then shall determine the percentage of
17371737 the contribution which establishes the proportionate
17381738 share of the credit which may be claimed by any
17391739 taxpayer so that the maximum credits authorized by
17401740 this section are not exceeded.
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17921792 e. Beginning for tax year 2016, credits earned, but not
17931793 allowed due to the application of statewide caps
17941794 provided in subsection E F of this section will be
17951795 considered suspended and authorized to be used in the
17961796 next immediate tax year and applied to the next year ’s
17971797 statewide cap; and
17981798 3. The Tax Commission shall publish the percentage of the
17991799 contribution which may be claimed as a credit by contributors for
18001800 the most recently completed calendar year on the Tax Comm ission
18011801 website no later than February 15 of each calendar year for
18021802 contributions made the previous year. Each organization authorized
18031803 pursuant to subsections B, C, and D, and E of this section shall
18041804 notify contributors of that amount annually.
18051805 J. K. No tax credits authorized by this section shall be used
18061806 to reduce the tax liabilit y of the taxpayer to less than zero (0).
18071807 K. L. Any credits authorized by this section allowed but not
18081808 used in any tax year may be carried over, in order, to each of the
18091809 three (3) years following the year of qualification.
18101810 L. M. 1. In order to qualify under this section, each
18111811 organization authorized pursuant to subsections C and, D, and E of
18121812 this section shall submit an application with information to the
18131813 Oklahoma Tax Commission on a form prescribed by the Tax Commission
18141814 that:
18151815
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18661866 a. enables the Tax Commissio n to confirm that the
18671867 organization is a nonprofit entity exempt from
18681868 taxation pursuant to the provisions of the Internal
18691869 Revenue Code of 1986, as amended, 26 U.S.C., Section
18701870 501(c)(3) or Section 509(a), and
18711871 b. describes the proposed innovative educational program
18721872 or programs supported by the organization.
18731873 2. The Tax Commission shall review and approve or disapprove
18741874 the application, in consultation with the State Department of
18751875 Education or the Oklahoma State Regents for Higher Education .
18761876 3. In order to maintain eligibility under this section, an
18771877 organization authorized pursuant to subsections C and D of this
18781878 section shall annually report the following information to the Tax
18791879 Commission and publish on its website by September 1 of each year:
18801880 a. the name of the innovative educational program or
18811881 programs and the total amount of the grant or grants
18821882 made to those programs during the immediately
18831883 preceding school year,
18841884 b. a description of how each grant was utilized during
18851885 the immediately preceding school year and a
18861886 description of any demonstrated or expected innovative
18871887 educational improvements,
18881888 c. the names of the public school and school districts
18891889 where innovative educational programs tha t received
18901890
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19411941 grants during the immediately preceding school year
19421942 were implemented,
19431943 d. where the organization collects information on a
19441944 county-by-county basis, and
19451945 e. the total number and total amount of grants made
19461946 during the immediately preceding school yea r for
19471947 innovative educational programs at public school by
19481948 each county in which the organization made grants.
19491949 4. In order to maintain eligibility under this section, an
19501950 organization authorized pursuant to subsection E of this section
19511951 shall annually report the following information to the Tax
19521952 Commission and publish on its website by September 1 of each year:
19531953 a. the name of the higher education institution
19541954 scholarship program or programs and the total amount
19551955 of funds distributed by the foundation through thos e
19561956 programs during the immediately preceding school year,
19571957 b. a description of how the scholarship funds were
19581958 utilized during the immediately preceding school year,
19591959 and
19601960 c. the total number and total amount of scholarships
19611961 granted during the immediately prece ding school year.
19621962 5. The information required under paragraph paragraphs 3 and 4
19631963 of this subsection shall be submitted on a form provided by the Tax
19641964 Commission. No later than May 1 of each year, the Tax Commission
19651965
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20162016 shall annually distribute sample forms t ogether with the forms on
20172017 which the reports are required to be made to each ap proved
20182018 organization.
20192019 5. 6. The Tax Commission shall not require any other
20202020 information be provided by an organization, except as expressly
20212021 authorized in this section.
20222022 M. N. 1. Beginning in 2023 for the 2022 -2023 academic year, in
20232023 order to maintain registration, a scholarship -granting organization
20242024 shall annually report to the Tax Commission by September 1 of each
20252025 year the following information regarding the educational
20262026 scholarships funded by the organization in the previous academic
20272027 year:
20282028 a. the name and address of the scholarship -granting
20292029 organization,
20302030 b. the names of the qualifying schools that received
20312031 funding for educational scholarships, the total amount
20322032 of funds paid to each qualifying school, and the total
20332033 number of scholarship recipients enrolled in each
20342034 qualifying school,
20352035 c. the total number and total dollar amount of
20362036 contributions received during the previous academic
20372037 year,
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20892089 d. the total number and total dollar amount of
20902090 educational scholarships awarded and funded during the
20912091 previous academic year,
20922092 e. the total number, total dollar amount, and percentage
20932093 of educational scholarships awarded and funded during
20942094 the previous academic year disaggregated into the
20952095 following categories:
20962096 (1) low-income eligible students,
20972097 (2) students who during the immediately preceding
20982098 school year attended or who were eligible by
20992099 virtue of the residence of the student to attend
21002100 a public school in the state which was identified
21012101 for school improvement by the State Board of
21022102 Education,
21032103 (3) eligible special needs students, and
21042104 (4) students who were first -time recipients of a
21052105 scholarship including information about the type
21062106 of public or private school the student was
21072107 enrolled in during the entire previous a cademic
21082108 year,
21092109 f. the percentage of annual revenue received by the
21102110 organization from donations which qualify for tax
21112111 credits pursuant to this section which was not
21122112 expended on scholarships,
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21642164 g. disaggregated data reported under this subsection
21652165 shall be redacted if reporting would allow for
21662166 identification of specific children, and shal l be
21672167 reported in accordance with the Student Data
21682168 Accessibility, Transparency and Accountability Act of
21692169 2013, division subparagraph b of subparagraph
21702170 paragraph 2 of subsection C of Section 3-168 of Title
21712171 70 of the Oklahoma Statutes, and the Family
21722172 Educational Rights and Privacy Act of 1974 (FERPA), 20
21732173 U.S.C., Section 1232g, and
21742174 h. the percentage of the total amount of education
21752175 scholarship expenditures spent on low -income eligible
21762176 students.
21772177 2. The Tax Commission shall make available on its website:
21782178 a. the information submitted by the scholarship -granting
21792179 organization pursuant to paragraph 1 of this
21802180 subsection,
21812181 b. a list of participating schools, and
21822182 c. all other application inform ation submitted to the Tax
21832183 Commission by a scholarship -granting organization,
21842184 except that information which would violate the
21852185 privacy of an individual.
21862186 3. A scholarship-granting organization shall annually submit
21872187 verification to the Tax Commission that th e organization still meets
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22392239 the criteria set forth in paragraph 7 of subsection H I of this
22402240 section.
22412241 N. O. Contributions made pursuant to subsections B, C, and D of
22422242 this section shall not be used by the Legislature to reduce the
22432243 amount appropriated for the financial support of public schools.
22442244 O. P. In consultation with the State Department of Education
22452245 and the Oklahoma State Regents for Higher Education , the Tax
22462246 Commission shall promulgate rules necessary to implement the
22472247 Oklahoma Equal Opportunity Educati on Scholarship Act. The rules
22482248 shall include procedures for the registration o f a scholarship-
22492249 granting organization, an educational improvement grant
22502250 organization, a public school foundation, or a public school
22512251 district, or a public higher education instit ution foundation for
22522252 purposes of determining if the organization meets the requirements
22532253 of the Oklahoma Equal Opportunity Education Scholarship Act or for
22542254 the revocation of the registration of an organization, if
22552255 applicable, and for notice as required in s ubsection I J of this
22562256 section.
22572257 SECTION 2. This act shall beco me effective November 1, 2025.
22582258
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