Revenue and taxation; Oklahoma Revenue and Taxation Act of 2025; effective date.

HB 1519 amends Oklahoma's Parental Choice Tax Credit Program to expand tax credits for families using private school education. It removes previous caps on credits, sets income-based maximums (ranging from $5,000 to $7,500 annually), and specifies that credits apply to tuition at accredited private schools, tutoring, educational materials, and standardized test fees for eligible students. The bill directly affects Oklahoma taxpayers with children enrolled in qualifying private schools or alternative education programs, including special provisions for schools serving homeless students or financially disadvantaged students (defined as 90% of students with family incomes at or below 250% of the federal poverty level). The credit is refundable if it exceeds the taxpayer's income tax liability.