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Req. No. 11246 Page 1
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STATE OF OKLAHOMA
1st Session of the 60th Legislature (2025)
HOUSE BILL 1407 By: Provenzano
AS INTRODUCED
An Act relating to schools; creating requirements
under the Oklahoma Parental Choice Tax Credit Act;
requiring certain taxpayers and private schools to
submit an annual report to the Oklahoma Tax
Commission; prescribing minimum contents of report;
providing for a standardized reporting form;
establishing deadline for report submission; allowing
penalties for failure to report; permitting audits
and investigations; authorizing Commission to
promulgate rules; 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 28-104 of Title 70, unless there
is created a duplication in numbering, reads as follows:
A. Any taxpayer receiving an income tax credit or private
school accepting students whose tuition is funded fully or partially
from tax credits pursuant to the Oklahoma Parental Choice Tax Credit
Act shall submit an annual report to the Oklahoma Tax Commission
detailing the allocation and expenditure of Oklahoma Parental Choice
Tax Credit dollars received.
Req. No. 11246 Page 2
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B. The annual report shall include, but not be limited to:
1. A detailed breakdown of how the tax credit dollars were
allocated and spent, including a description of expenses and their
respective amounts; and
2. An explanation and rationale for the use of the tax credit
funds, demonstrating their direct impact on educational programs,
facilities, or resources.
C. The Commission shall provide a standardized reporting form
for taxpayers and private schools to use in submitting the annual
reports required by subsection A of this section. The annual report
shall be submitted to the Commission no later than thirty (30) days
following the end of the tax year for which the tax credits were
received. Failure to submit the annual report prior to the deadline
may result in penalties as established by the Commission.
D. The Commission may audit or investigate taxpayers or private
schools subject to the requirements of this act to ensure compliance
with the reporting requirements of the act.
E. The Commission may promulgate rules to implement the
provisions of this act.
SECTION 2. This act shall become effective November 1, 2025.
60-1-11246 AO 12/26/24