Oklahoma Parental Choice Tax Credit Act; modifying installment payment for certain eligible students. Effective date.

SB 682 modifies Oklahoma's Parental Choice Tax Credit Program by allowing taxpayers to claim credits for eligible students in installments rather than a single payment. It directly affects parents, guardians, or legal custodians paying for private school tuition or approved educational expenses for students who qualify under the program. The bill prohibits the Oklahoma Tax Commission from recapturing credits for certain cases, streamlining the process for families. The credit amounts remain based on household income (ranging from $5,000 to $7,500 annually) but simplify how families access the full credit amount.