Governor Fallin signed HB 1693 last week. It passed the House and Senate by large margins. HB 1693 was designed to improve the current legislation authorizing our OSF. The bill was carried State Representative Kevin Calvey and State Senator Kyle Loveless.
ENHANCED TAX CREDIT: The most universal improvement was the change of the benefits to multi-year donors. Effective January 1, 2016, donors committing to the same amount for TWO consecutive years will receive 75% tax credits for BOTH years. This an improvement over the current law that requires a three year commitment and allows 75% in Year 1 – and 50% in Year 2 and Year 3.
There will be a transition from this year to next that we will work out. We are working with the Tax Commission to make the transitions seamless. When resolved we will explain directly to enrolled multi-year donors and schools.
TUITION FREE SCHOOLS: There are some schools serving special populations that cannot and/or do not charge traditional tuitions. These schools are now eligible to participate in OSF.
DISABILITIES: There are some schools that enroll and teach children with disabilities. Some are preschool age. This bill will liberalize the definition of “disability” and accommodate preschool kids by synchronizing their services with SoonerCare.