Revenue and taxation; income tax credit; legally married couple; child; effective date.

HB 1359 would create an Oklahoma income tax credit for married couples with dependent children, directly affecting legally married couples filing jointly who have children under 19 living with them. The credit amount varies by years of marriage: $500 for 1-5 years, $1,000 for 5-10 years, $1,500 for 11-15 years, and $2,000 for 16+ years, per child. It includes limits: a $10,000 annual cap per filer, a $25 million total annual cap for all credits, and requires pre-approval with documentation verifying marriage duration and child residency. The bill would take effect January 1, 2026, if passed, but remains pending in committee as of February 2025.