Income tax; modifying calculation of the Oklahoma earned income tax credit. Effective date.

SB 52 modifies Oklahoma's earned income tax credit (OETC) by setting a fixed 5% rate based on the federal credit amount under IRS Section 32, effective for tax years beginning January 1, 2022, through 2025. It clarifies that the credit calculation must align with federal requirements for those years, prohibits advance payments of the credit, and ensures excess credit is refunded to taxpayers. The bill directly affects low-income Oklahoma residents who claim the OETC on their state tax returns. It also requires the credit amount to be prorated based on Oklahoma adjusted gross income relative to federal adjusted gross income. The changes take effect November 1, 2025.