Oklahoma 2025 Regular Session

Oklahoma Senate Bill SB472 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	SENATE FLOOR VERSION - SB472 SFLR Page 1
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29		-	SENATE FLOOR VERSION
30		-	February 11, 2025
31		-	AS AMENDED
	53	+	STATE OF OKLAHOMA
32	54
33		-	SENATE BILL NO. 472 By: Bergstrom
	55	+	1st Session of the 60th Legislature (2025)
	56	+
	57	+	SENATE BILL 472 By: Bergstrom
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	63	+	AS INTRODUCED
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40		-
41		-
42		-
43		-	[ income tax credit - scope of scholarships -
44		-	effective date ]
45		-
46		-
47		-
48		-
	65	+	An Act relating to income tax credit; amending
	66	+	Section 2, Chapter 278, O.S.L. 2023, as amended by
	67	+	Section 3, Chapter 277, O.S.L. 2024 (70 O.S. Supp.
	68	+	2024, Section 28-101), which relates to the Oklahoma
	69	+	Parental Choice Tax Credit Act; modifying definition;
	70	+	expanding the scope of scholarships while
	71	+	participating in the program; and providing an
	72	+	effective date.
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53	77		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
54	78		SECTION 1. AMENDATORY Section 2, Chapter 278, O.S.L.
55	79		2023, as amended by Section 3, Chapter 277, O.S.L. 2024 (70 O.S.
56	80		Supp. 2024, Section 28 -101), is amended to read as follows:
57	81		Section 28-101. A. As used in the Oklahoma Parental Choice Tax
58	82		Credit Act:
59	83		1. “Commission” means the Oklahoma Tax Commission;
60	84		2. “Curriculum” means a complete course of study for a
61	85		particular content area or grade level;
62	86		3. “Department” means the State Department of Education;
63	87		4. “Education service provider ” means a person, business,
64	88		public school district, public charter school, magnet school, or
65	89
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92	140		organization that provides educational goods and/or services to
93	141		eligible students in this state;
94	142		5. “Eligible student” means a resident of this state who is
95	143		eligible to enroll in a public school in this state. Eligible
96	144		student shall include a student who is enrolled in and attends or is
97	145		expected to enroll in a private school in this state accredited by
98	146		the State Board of Education or another accrediting association or a
99	147		student who is educated purs uant to the other means of education
100	148		exception provided for in subsection A of Section 10 -105 of this
101	149		title;
102	150		6. “Qualified expense” for the purpose of claiming the credit
103	151		authorized by paragraph 1 of subsection C of this section means
104	152		tuition and fees at a private school in this state accredited by the
105	153		State Board of Education or another accrediting association.
106	154		Provided, the amount of tuition and fees considered a qualified
107	155		expense pursuant to this paragraph shall not include the portion of
108	156		tuition and fees paid with any scholarship or the portion of tuition
109	157		and fees discounted or otherwise reduced by the school;
110	158		7. “Qualified expense” for the purpose of claiming the credit
111	159		authorized by paragraph 2 of subsection C of this section means the
112	160		following expenditures:
113	161		a. tuition and fees for nonpublic learning programs,
114	162		online or in person,
115	163
116		-	SENATE FLOOR VERSION - SB472 SFLR Page 3
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142	214		b. academic tutoring services provided by an individual
143	215		or a private academic tutoring facili ty,
144	216		c. textbooks, curriculum, or other instructional
145	217		materials including, but not limited to, supplemental
146	218		materials or associated online instruction required by
147	219		an education service provider, and
148	220		d. fees for nationally standardized assessments
149	221		including, but not limited to, assessments used to
150	222		determine college admission and advanced placement
151	223		examinations as well as tuition and fees for tutoring
152	224		or preparatory courses for the assessments; and
153	225		8. “Taxpayer” means a biological or adoptive parent,
154	226		grandparent, aunt, uncle, legal guardian, custodian, or other person
155	227		with legal authority to act on behalf of an eligible student.
156	228		B. There is hereby created the Oklahoma Parental Choice Tax
157	229		Credit Program to provide an income tax credit to a taxpayer for
158	230		qualified expenses to support the education of eligible students in
159	231		this state.
160	232		C. For the tax year 2024 and subsequent tax years, and fiscal
161	233		year 2026 and subsequent fiscal years, there shall be allowed
162	234		against the tax imposed by Section 2355 of Title 68 of the Oklahoma
163	235		Statutes a credit for any Oklahoma taxpayer who incurs a qualified
164	236		expense on behalf of an eligible student, to be administered subject
165	237		to the following amounts:
166	238
167		-	SENATE FLOOR VERSION - SB472 SFLR Page 4
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193	289		1. If the eligible student attends a private school in this
194	290		state accredited by the State Board of Education or another
195	291		accrediting association, the annual maximum credit amount for tax
196	292		year 2024, fiscal year 2026, and each subsequent fiscal year shall
197	293		be:
198	294		a. Seven Thousand Five Hundred Dollars ($7,500.00) or the
199	295		amount of tuition and fee s for the private school,
200	296		whichever is less, if the combined adjusted gross
201	297		income of the parents or legal guardians of the
202	298		eligible student during the second preceding tax year
203	299		does not exceed Seventy -five Thousand Dollars
204	300		($75,000.00),
205	301		b. Seven Thousand Dollars ($7,000.00) or the amount of
206	302		tuition and fees for the private school, whichever is
207	303		less, if the combined adjusted gross income of the
208	304		parents or legal guardians of the eligible student
209	305		during the second preceding tax year is more than
210	306		Seventy-five Thousand Dollars ($75,000.00) but does
211	307		not exceed One Hundred Fifty Thousand D ollars
212	308		($150,000.00),
213	309		c. Six Thousand Five Hundred Dollars ($6,500.00) or the
214	310		amount of tuition and fees for the private school,
215	311		whichever is less, if the combined adjusted gross
216	312		income of the parents or legal guardians of the
217	313
218		-	SENATE FLOOR VERSION - SB472 SFLR Page 5
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244	364		eligible student during the second preceding tax year
245	365		is more than One Hundred Fifty Thousand Dollars
246	366		($150,000.00) but does not exceed Two Hundred Twenty -
247	367		five Thousand Dollars ($225,000.00),
248	368		d. Six Thousand Dollars ($6,000.00) or the amount of
249	369		tuition and fees for the private school, whichever is
250	370		less, if the combined adjusted gross income of the
251	371		parents or legal guardians of the eligible student
252	372		during the second preceding tax year is more than Two
253	373		Hundred Twenty-five Thousand Dollars ($225,000.00) but
254	374		does not exceed Two Hundred Fifty Thousand Dollars
255	375		($250,000.00), or
256	376		e. Five Thousand Dollars ($5,000.00) or the amount of
257	377		tuition and fees for the private school, whichever is
258	378		less, if the combined adjusted g ross income of the
259	379		parents or legal guardians of the eligible student
260	380		during the second preceding tax year is more than Two
261	381		Hundred Fifty Thousand Dollars ($250,000.00);
262	382		2. For tax year 2024 and subsequent tax years, the maximum
263	383		credit amount shall be One Thousand Dollars ($1,000.00) in qualified
264	384		expenses per eligible student in each tax year if the eligible
265	385		student is educated pursuant to the other means of education
266	386		exception provided for in subsection A of Section 10 -105 of this
267	387		title. To claim the cre dit, the taxpayer shall submit to the
268	388
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295	439		Commission receipts for qualified expens es as defined by paragraph 7
296	440		of subsection A of this section;
297	441		3. If the eligible student attends a private school in this
298	442		state, accredited by the State Board of Education or an other
299	443		accrediting association, that exclusively serves students
300	444		experiencing homelessness, the credit amount shall be Seven Thousand
301	445		Five Hundred Dollars ($7,500.00) or the amount of the cost to
302	446		educate the eligible student at the private school, whichever is
303	447		less;
304	448		4. If the eligible student attends a private school in this
305	449		state, accredited by the State Board of Education or another
306	450		accrediting association, that primarily serves financially
307	451		disadvantaged students, the credit amount shall be the maximum
308	452		credit amount authorized by paragraph 1 of this subsection or the
309	453		amount of the cost to educate the eligible student at the private
310	454		school, whichever is less. The cost to educate the eligible student
311	455		shall be equal to the average cost to educate all student s attending
312	456		the private school, which shall be calculated by dividing the
313	457		private school’s total expenditures in the previous year by the
314	458		total enrollment in the previous school year. A private school
315	459		shall be deemed to be primarily serving financially di sadvantaged
316	460		students if ninety percent (90%) of the private school ’s admissions
317	461		are based on enrolling students whose gross family income is two
318	462
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345	513		hundred fifty percent (250%) of the federal poverty threshold or
346	514		below;
347	515		5. The taxpayer shall retain all recei pts of qualified expenses
348	516		as proof of the amounts paid each tax year the credi t is claimed and
349	517		shall submit them to the Commission upon request;
350	518		6. If the credit exceeds the tax imposed by Section 2355 of
351	519		Title 68 of the Oklahoma Statutes, the excess amou nt shall be
352	520		refunded to the taxpayer; and
353	521		7. Credits claimed by a taxpayer pursuant to the provisions of
354	522		this section shall not be used to offset or pay the following:
355	523		a. delinquent tax liability,
356	524		b. accrued penalty or interest from the failure to file a
357	525		report or return,
358	526		c. accrued penalty or interest from the failure to pay a
359	527		state tax within the statutory period allowed for its
360	528		payment,
361	529		d. tax liability of the taxpayer from any prior tax year,
362	530		or
363	531		e. any debt, unpaid fine, final judgment, or claim filed
364	532		with the Commission by a qualified entity as defined
365	533		in Section 205.2 of Title 68 of the Oklahoma Statutes.
366	534		D. 1. a. For tax year 2024, the total amount of credits
367	535		authorized by paragraph 1 of subsection C of this
368	536
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395	587		section shall not exceed One Hundred Fifty Million
396	588		Dollars ($150,000,000.00).
397	589		b. For the period of January 1, 2025, thro ugh June 30,
398	590		2025, the total amount of credits authorized by
399	591		paragraph 1 of subsection C of this section shall not
400	592		exceed One Hundred Million Dollars ($100,000,000.00).
401	593		The Commission shall not require a taxpayer who
402	594		received a credit pursuant to paragraph 1 of
403	595		subsection C of this section in tax year 2024 to
404	596		reapply for a credit payable during the period
405	597		described in this subparagraph. The Commission shall
406	598		base the credit amoun t payable for the spring 2025 on
407	599		the fall 2024 installment disbursement paymen t amount.
408	600		c. For fiscal year 2026 and subsequent fiscal years, the
409	601		total amount of credits authorized by paragraph 1 of
410	602		subsection C of this section shall not exceed Two
411	603		Hundred Fifty Million Dollars ($250,000,000.00).
412	604		2. For tax year 2025 and subsequent tax years, the total amount
413	605		of credits authorized by paragraph 2 of subsection C of this section
414	606		shall not exceed Five Million Dollars ($5,000,000.00).
415	607		E. The Commission shall p rescribe applications for the purposes
416	608		of claiming the credits authorized by t he Oklahoma Parental Choice
417	609		Tax Credit Act and a deadline by which applications shall be
418	610		submitted. A taxpayer claiming the credit authorized by paragraph 1
419	611
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446	662		of subsection C of t his section shall submit an application
447	663		prescribed by the Commission to receive the credit in two
448	664		installments, each of which shall be half of the expected amount of
449	665		tuition and fees for the private school based on the enrollment
450	666		verification form submitte d pursuant to this subsection, but in no
451	667		event shall an installment payment ex ceed the amount of the credit
452	668		authorized by paragraph 1 of subsection C of this section. If an
453	669		eligible taxpayer provides documentation on the application that he
454	670		or she is a recipient of income-based government benefits including
455	671		the Supplemental Nutrition Assistance Program (SNAP), Temporary
456	672		Assistance for Needy Families (TANF), or SoonerCare, the eligible
457	673		taxpayer shall not be required to provide additional income
458	674		verification. A taxpayer claiming the credit authorized by
459	675		paragraph 1 of subsection C of this section shall submit to the
460	676		Commission an enrollment verification form from the private school
461	677		in which the eligible student is enrolled or is expected to enroll
462	678		with the tuition and fees to be charged the taxpayer for the
463	679		applicable school year. In reviewing applications submitted by
464	680		eligible taxpayers to determine whether they qualify for a credit
465	681		authorized by paragraph 1 of subsection C of this section, the
466	682		Commission shall give first preference in making installments to
467	683		taxpayers who qualify pur suant to subparagraphs a and b of paragraph
468	684		1 of subsection C of this section. For credits issued in the 2025 -
469	685		2026 school year and subsequent school years, the application perio d
470	686
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496	736
497	737		shall open on February 15 prior to the beginning of each school
498	738		year. For any eligible student whose parents or legal guardians
499	739		have a combined adjusted gross income that does not exceed One
500	740		Hundred Fifty Thousand Dollars ($150,000.00), applications sha ll be
501	741		submitted to the Commission within the first sixty (60) days of the
502	742		opening of the application period to receive priority consideration.
503	743		For students enrolled in the full school year, the credit shall be
504	744		paid in two installments, one per school seme ster, to be paid no
505	745		later than August 30 and January 15, each of which shall be half of
506	746		the total expected amount of tuition and fees on the enrollment
507	747		verification form submitted pursuant to this subsection.
508	748		F. In the event there are more applications su bmitted by
509	749		eligible taxpayers for a credit authorized by paragraph 1 of
510	750		subsection C of this section than available credits pursuant to
511	751		subsection D of this section, then the Commission shall give first
512	752		preference in authorizing credits for eligible studen ts of taxpayers
513	753		who qualify pursuant to subparagraphs a and b of paragraph 1 of
514	754		subsection C of this section and have received the credit in the
515	755		prior year.
516	756		G. Taxpayers claiming the credit shall:
517	757		1. Only claim the credit for qualified expenses as define d in
518	758		paragraphs 6 and 7 of subsection A of this section to provide an
519	759		education for an eligible student;
520	760
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546	810
547	811		2. Ensure no other person is claiming a credit for the eligible
548	812		student;
549	813		3. Not claim the credit for an eligible student who enrolls as
550	814		a full-time student in a public school district, public charter
551	815		school, public virtual charter school, or magnet school;
552	816		4. Comply with rules and requirements established by the
553	817		Commission for administration of the Oklahoma Parental Choice Tax
554	818		Credit Program; and
555	819		5. Notify the Commission not later than thirty (30) days after
556	820		the date on which the eligible student:
557	821		a. enrolls in a public school, including an open -
558	822		enrollment charter school,
559	823		b. enrolls in a nonaccredited private school,
560	824		c. graduates from high school, or
561	825		d. is no longer utilizing credits authorized by paragraph
562	826		1 of subsection C of this section for any reason.
563		-	H. Eligible ~~students may accept a any scholarship including a~~
564		-	scholarship from the Lindsey Nicole ~~Henry Scholarships for Students~~
565		-	with Disabilities Program created by ~~Section 13 -101.2 of this title~~
566		-	while participating in the Oklahoma ~~Parental Choice Tax Credit~~
567		-	Program.
	827	+	H. Eligible For fiscal year 2026 and subsequent fiscal years,
	828	+	eligible students may accept a scholarship from the Lindsey Nicole
	829	+	Henry Scholarships for Students with Disabilities Program created by
	830	+	Section 13-101.2 of this title while participating in the Oklahoma
	831	+	Parental Choice Tax Credit Program.
568	832		I. 1. The Commission shall have the authority to conduct an
569	833		audit or contract for the auditing of re ceipts for qualified
570	834
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596	884
597	885		expenses submitted pursuant to paragraph 2 of subsection C of this
598	886		section.
599	887		2. The Commission shall be authorized to recapture the credits
600	888		otherwise authorized by the provisions of the Oklahoma Parental
601	889		Choice Tax Credit Act on a pror ated basis if an audit conducted
602	890		pursuant to this subsection shows that the cr edit was claimed for
603	891		expenditures that were not qualified expenses or it finds that the
604	892		taxpayer has claimed an eligible student who no longer attends a
605	893		private school or has enr olled in a public school in the state.
606	894		3. The Commission shall be authorized to reallocate credits to
607	895		the next eligible taxpayer in line when a taxpayer, on behalf of an
608	896		eligible student in the program, chooses not to participate, is no
609	897		longer eligible to participate, or chooses to forgo participation in
610	898		the program for any reason.
611	899		4. The Commission shall provide notification of approval status
612	900		to applicants within thirty (30) days of closure of the application
613	901		window. Notice to applicants with an eligib le student, whose
614	902		parents or legal guardians have a combined adjusted gross income of
615	903		more than One Hundred Fifty Thousand Dollars ($150,000.00), shall be
616	904		sent within thirty (30) days or no later than thirty (30) days after
617	905		the last day of the priority con sideration period.
618	906		J. In the event of a failure of revenue pursuant to the
619	907		Oklahoma State Finance Act, the tax credits otherwise authorized in
620	908		subsection C of this section shall be reduced proportionately to the
621	909
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648	960		reduction in the amount of money appropriat ed to the State Board of
649	961		Education for the financial support of public schools for the fiscal
650	962		year in which the failure of revenue occurs.
651	963		K. The Commission shall make available on its website to be
652	964		updated monthly:
653	965		1. The total amount of credits claimed each year pursuant to
654	966		paragraphs 1 through 4 of subsection C of this section;
655	967		2. The amount of credits claimed and number of students awarded
656	968		each fiscal year pursuant to paragraph 1 of subsection C of this
657	969		section disaggregated by income categories;
658	970		3. The total amount of credits claimed and number of students
659	971		awarded who attended a public school in the semester immediately
660	972		preceding the school year for which the application is made each
661	973		year; and
662	974		4. The total number of applications denied and total am ount of
663	975		credits the denied applications represent for each fiscal year.
664	976		L. Credits received pursuant to the Oklahoma Parental Choice
665	977		Tax Credit Act shall not constitute taxable income to a taxpayer who
666	978		received the credit on behalf of an eligible student.
667	979		SECTION 2. This act shall become effective November 1, 2025.
668		-	~~COMMITTEE REPORT BY: COMMI TTEE ON EDUCATION~~
669		-	~~February 11,~~ 2025 ~~- DO PASS AS AMENDED~~
	980	+
	981	+	60-1-186 QD 1/8/2025 9:14:54 PM