Bill Summary – FastDemocracy

1                               STATE OF OKLAHOMA
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 2                  1st Session of the 58th Legislature (2021)
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 3   SENATE BILL 893                        By: Pugh
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 6                                 AS INTRODUCED
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 7            An Act relating to income tax; amending 68 O.S. 2011,
 7            Section 2357.301, as amended by Section 1, Chapter
 8            30, O.S.L. 2014 (68 O.S. Supp. 2020, Section
 8            2357.301), which relates to income tax credits;
 9            modifying definition related to credits for aerospace
 9            sector; and providing an effective date.
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12   BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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13       SECTION 1.      AMENDATORY       68 O.S. 2011, Section 2357.301, as
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14   amended by Section 1, Chapter 30, O.S.L. 2014 (68 O.S. Supp. 2020,
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15   Section 2357.301), is amended to read as follows:
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16       Section 2357.301.     As used in Sections 2357.301 through 2357.304
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17   of this title:
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18       1.   "Aerospace sector" means a private or public organization
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19   engaged in the manufacture of aerospace or defense hardware or
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20   software, aerospace maintenance, aerospace repair and overhaul,
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21   supply of parts to the aerospace industry, provision of services and
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22   support relating to the aerospace industry, research and development
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23   of aerospace technology and systems, and the education and training
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24   of aerospace personnel;
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     Req. No. 198                                                  Page 1
 1       2.    "Compensation" means payments in the form of contract labor
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 2   for which the payor is required to provide a Form 1099 to the person
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 3   paid, wages subject to withholding tax paid to a part-time employee
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 4   or full-time employee, or salary or other remuneration.
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 5   Compensation shall not include employer-provided retirement, medical
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 6   or health-care benefits, reimbursement for travel, meals, lodging or
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 7   any other expense;
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 8       3.    "Institution" means an institution within The Oklahoma State
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 9   System of Higher Education or any other public or private college or
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10   university that is accredited by a national accrediting body;
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11       4.    "Qualified employer" means a sole proprietor, general
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12   partnership, limited partnership, limited liability company,
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13   corporation, other legally recognized business entity, or public
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14   entity whose principal business activity involves the aerospace
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15   sector;
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16       5.    "Qualified employee" means any person, regardless of the
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17   date of hire, employed in this state by or contracting in this state
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18   with a qualified employer on or after January 1, 2009, who has been
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19   awarded an undergraduate or graduate degree from a qualified program
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20   by an institution, and who was not employed in the aerospace sector
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21   in this state immediately preceding employment or contracting with a
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22   qualified employer.   Provided, the definition shall not be
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23   interpreted to exclude any person who was employed in the aerospace
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24   sector, but not as a full-time engineer, prior to being awarded an
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     Req. No. 198                                                  Page 2
 1   undergraduate or graduate degree from a qualified program by an
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 2   institution or any person who has been awarded an undergraduate or
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 3   graduate degree from a qualified program by an institution and is
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 4   employed by a professional staffing company and assigned to work in
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 5   the aerospace sector in this state;
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 6       6.   "Qualified program" means a program at an institution that
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 7   includes a graduate or undergraduate program that has been
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 8   accredited by the Engineering Accreditation Commission of the
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 9   Accreditation Board for Engineering and Technology (ABET) and that
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10   awards an undergraduate or graduate degree.   Both the undergraduate
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11   and graduate programs of the same discipline of engineering at an
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12   institution shall be part of the qualified program if either program
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13   is ABET accredited; and
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14       7.   "Tuition" means the average annual amount paid by a
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15   qualified employee for enrollment and instruction in a qualified
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16   program.   Tuition shall not include the cost of books, fees or room
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17   and board.
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18       SECTION 2.   This act shall become effective November 1, 2021.
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20       58-1-198       QD        1/21/2021 4:32:49 PM
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     Req. No. 198                                                 Page 3
Statutes affected: 
Introduced: 68-2357.301
Floor (House): 68-2357.301
Floor (Senate): 68-2357.301
Engrossed: 68-2357.301
Amended And Engrossed: 68-2357.301
Enrolled (final version): 68-2357.301