HB 2366
Revenue and taxation; income tax credit; biomanufacturing; effective date.
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- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates a new income tax credit for employees working in the biomanufacturing sector in Oklahoma. The credit is available to individuals who meet specific criteria, such as having a degree from an accredited program or holding a relevant professional license. Qualified employees can claim up to $5,000 per year for a maximum of five years, and unused credits can be carried over to subsequent years. The law also defines key terms related to the biomanufacturing sector and establishes an effective date.
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