House Bill No. 1092 establishes the "Oklahoma Trade School Tuition Tax Credit," aimed at providing financial relief to individuals pursuing vocational education in the state. The bill defines key terms, including "qualified program," which refers to trade or vocational schools in Oklahoma that offer specialized training in fields such as HVAC, plumbing, automotive mechanics, electrical work, carpentry, welding, and construction. Eligible taxpayers, defined as natural persons, can claim a tax credit of up to $7,500 or the actual tuition costs incurred, whichever is less, for attending a qualified program. This credit can only be claimed once and must be utilized within three years of receiving certification from the program.

Additionally, the bill stipulates that the tax credit cannot reduce a taxpayer's income tax liability to below zero, and any unused portion of the credit may be carried over to the next three taxable years. The legislation is set to take effect on November 1, 2025, and includes provisions for noncodification and codification within the Oklahoma Statutes.