Schools; Oklahoma Parental Choice Tax Credit Act; website requirements; effective date.

HB 1742 creates an Oklahoma Parental Choice Tax Credit Program, allowing taxpayers to claim a state income tax credit for qualified education expenses of eligible students. The credit amount varies by family income (ranging from $5,000 to $7,500 annually) and covers private school tuition/fees, tutoring, textbooks, and standardized test fees for students attending accredited private schools or using approved educational alternatives. Eligible students include those in accredited private schools or homeschooled under specific state guidelines, with additional provisions for schools serving homeless students or financially disadvantaged students. Taxpayers must retain receipts and submit them to the Oklahoma Tax Commission to claim the credit, which may be refunded if it exceeds the tax owed. The program applies to tax years 2024 and beyond, with administration managed by the Oklahoma Tax Commission.