Income tax credit; providing refundable child tax credit; making child care credit refundable. Effective date.

Summary

The bill adds two new refundable tax credits to Oklahoma's income tax code: a child‑care credit and a child tax credit. Both credits are limited to taxpayers with adjusted gross incomes below $100,000 and are reduced proportionally to the taxpayer's Oklahoma income relative to their federal income. The measures aim to give low‑ and moderate‑income families more financial relief for child‑related expenses.

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