Oklahoma § 59-645.1 - Osteopathic Physician Preceptor Tax Credit Revolving

§ 59-645.1. Osteopathic Physician Preceptor Tax Credit Revolving

Fund.

There is hereby created in the State Treasury a revolving fund

for the State Board of Osteopathic Examiners to be designated the

“Osteopathic Physician Preceptor Tax Credit Revolving Fund”. The

fund shall be a continuing fund, not subject to fiscal year

limitations, and shall consist of the monies received by the Board

from a portion of licensure fees received from osteopathic

physicians under subsection I of Section 1 of this act. All monies

accruing to the credit of the fund are hereby appropriated and the

fund shall be used to make a transfer payment to the Oklahoma Tax

Commission in an amount equal to the amount of tax credits awarded

pursuant to this act. The Oklahoma Tax Commission shall apportion

monies transferred from the fund in the same manner as provided by

Section 2352 of Title 68 of the Oklahoma Statutes. Monies in the

fund which are not required for payment of administrative expenses

to the Health Care Workforce Training Commission, which shall not

exceed five percent (5%) of monies apportioned to the fund, or which

are not required to be transferred to the Oklahoma Tax Commission as

otherwise required by this act to offset the revenue impacted by the

use of the income tax credits awarded pursuant to Section 1 of this

act may be used to implement programs required or authorized by law.

Added by Laws 2024, c. 316, § 4, emerg. eff. May 16, 2024.