The bill amends the Oklahoma Parental Choice Tax Credit Program by removing the priority consideration previously given to certain qualifying taxpayers when applying for tax credits. Specifically, the language that provided priority to taxpayers who qualified under specific income thresholds has been deleted. The bill maintains the structure of the tax credit program, which allows taxpayers to claim credits for qualified educational expenses incurred on behalf of eligible students attending accredited private schools or utilizing other educational services. The maximum credit amounts are tiered based on the combined adjusted gross income of the parents or guardians, with specific amounts outlined for different income brackets.

Additionally, the bill establishes that the Oklahoma Tax Commission will no longer prioritize applications based on income levels or previous credit receipt, thereby streamlining the application process. The effective date for these changes is set for January 1, 2027. The bill also includes provisions for the auditing of claimed credits and the reallocation of credits if a taxpayer chooses not to participate in the program. Overall, the amendments aim to simplify the application process while continuing to support educational choices for families in Oklahoma.