ENGROSSED HOUSE
BILL NO. 2763	By:	Renegar, Kern, McDaniel (Jeannie), Hoskin, Bennett, Lockhart, Sherrer, Rousselot and Shoemake of the House

				and

		Ballenger of the Senate

 [ revenue and taxation – income tax – deduction – 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 2358.5-2 of Title 68, unless there is created a duplication in numbering, reads as follows:
For taxable years beginning after December 31, 2014, there shall be allowed a deduction for individual taxpayers, regardless of filing status, in the amount of Five Thousand Dollars ($5,000.00) for expenses incurred providing care for each grandchild of which the taxpayer has custody under a court order.
SECTION 2.  This act shall become effective January 1, 2015.
Passed the House of Representatives the 10th day of March, 2014.

	
	Presiding Officer of the House
	of Representatives

Passed the Senate the ___ day of __________, 2014.

	
	Presiding Officer of the Senate