STATE OF OKLAHOMA

2nd Session of the 52nd Legislature (2010)

SENATE BILL 1953	By:	Bingman

AS INTRODUCED

An Act relating to revenue and taxation; amending Section 3, Chapter 281, O.S.L. 2006 (68 O.S. Supp. 2009, Section 2357.7A), which relates to income tax; clarifying reference relating to certain report on income tax credit; and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     AMENDATORY     Section 3, Chapter 281, O.S.L. 2006 (68 O.S. Supp. 2009, Section 2357.7A), is amended to read as follows:
Section 2357.7A.  On or before November 1 of each year subsequent to ~~the effective date of this act~~ June 7, 2006, the Oklahoma Tax Commission shall file a report with the Speaker of the House of Representatives and the President Pro Tempore of the Senate.  The report shall state the amount of credits actually claimed and allowed pursuant to the provisions of Section 2357.7 of Title 68 of the Oklahoma Statutes during the previous calendar year, statistical information on the qualified investments made by qualified venture capital companies during the previous year, an estimate of the number of jobs created in this state during the previous year pursuant to qualified investments made by qualified venture capital companies, and such other information as the Tax Commission may deem relevant.
SECTION 2.  This act shall become effective November 1, 2010.

52-2-2324	JCR	1/13/2010 4:01:44 PM