1 STATE OF OKLAHOMA
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2 1st Session of the 58th Legislature (2021)
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3 SENATE BILL 915 By: Hall
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6 AS INTRODUCED
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7 An Act relating to income tax deduction; providing
7 deduction for certain investments; requiring the
8 Oklahoma Department of Commerce to determine
8 investors eligible for deduction; requiring
9 consultation with the Oklahoma Tax Commission;
9 authorizing the Department to promulgate rules;
10 providing for codification; and providing an
10 effective date.
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13 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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14 SECTION 1. NEW LAW A new section of law to be codified
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15 in the Oklahoma Statutes as Section 2358.200 of Title 68, unless
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16 there is created a duplication in numbering, reads as follows:
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17 A. For tax year 2022 and subsequent tax years, there shall be
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18 allowed a deduction against the tax imposed in Section 2355 of Title
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19 68 of the Oklahoma Statutes for accredited investors, determined by
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20 the Oklahoma Department of Commerce, making investments in qualified
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21 venture capital funds and qualified Oklahoma-based startups.
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22 B. The Oklahoma Department of Commerce, in consultation with
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23 the Oklahoma Tax Commission, shall determine the investments that
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24 qualify for the deduction provided in subsection A of this section.
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 1 The department may promulgate rules to enforce the provisions of
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2 this act.
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3 SECTION 2. This act shall become effective November 1, 2021.
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5 58-1-1390 QD 1/21/2021 4:53:56 PM
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