Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
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2 2nd Session of the 60th Legislature (2026)
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3 SENATE BILL 1392 By: Rader
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6 AS INTRODUCED
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7 An Act relating to income tax, amending 68 O.S. 2021,
7 Section 2357.304, as last amended by Section 3,
8 Chapter 402, O.S.L. 2025 (68 O.S. Supp. 2025, Section
8 2357.304), which relates to the tax credit for a
9 qualified employee in the aerospace sector; modifying
9 amount of credit for certain tax years; and providing
10 an effective date.
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13 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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14 SECTION 1. AMENDATORY 68 O.S. 2021, Section 2357.304, as
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15 last amended by Section 3, Chapter 402, O.S.L. 2025 (68 O.S. Supp.
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16 2025, Section 2357.304), is amended to read as follows:
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17 Section 2357.304. A. Except as provided in subsection D of
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18 this section, for tax years 2009 through 2031, a qualified employee
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19 shall be allowed a credit against the tax imposed pursuant to
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20 Section 2355 of this title of up to Five Thousand Dollars
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21 ($5,000.00) per tax year, for tax years 2009 through 2026, and Ten
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22 Thousand Dollars ($10,000.00) per tax year, for tax years 2027
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23 through 2031, for a period of time not to exceed five (5) years
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Req. No. 2458 Page 1
1 during the lifetime of the qualified employee. This credit may be
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2 claimed in nonconsecutive tax years.
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3 B. The credit authorized by this section shall not be used to
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4 reduce the tax liability of the taxpayer to less than zero (0).
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5 C. Any credit claimed, but not used, may be carried over, in
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6 order, to each of the five (5) subsequent taxable years.
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7 D. No credit otherwise authorized by the provisions of this
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8 section may be claimed for any event, transaction, investment,
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9 expenditure, or other act occurring on or after July 1, 2010, for
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10 which the credit would otherwise be allowable. The provisions of
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11 this subsection shall cease to be operative on July 1, 2011.
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12 Beginning July 1, 2011, the credit authorized by this section may be
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13 claimed for any event, transaction, investment, expenditure, or
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14 other act occurring on or after July 1, 2011, according to the
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15 provisions of this section.
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16 SECTION 2. This act shall become effective November 1, 2026.
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18 60-2-2458 QD 12/30/2025 10:35:15 PM
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Req. No. 2458 Page 2Every fact on this page links to its source, starting with the official bill record.