This bill establishes a new foster care maintenance payment amount, mandating that traditional foster parents receive at least $1,000 per month for each child in their care. Additionally, it directs the Director of the Department of Human Services to conduct an annual review of these payment rates and allows for the possibility of authorizing higher payments if deemed appropriate.

Furthermore, the bill amends Section 2358.5-1 of the Oklahoma Statutes to increase the tax deduction for taxpayers who contract with child-placing agencies from $5,000 to $7,500 for expenses related to foster care. It also stipulates that the deduction can be claimed for up to three foster children per year and outlines specific conditions under which taxpayers can qualify for this deduction. The act is set to take effect on November 1, 2026.