Income tax credit; providing tax credit for contributions to charitable organizations. Effective date.

SB 826 creates a state income tax credit for Oklahoma taxpayers who donate to qualifying charitable organizations serving specific populations. It allows credits of up to $400 (single/head of household/married separate) or $800 (married joint) for donations to organizations supporting low-income households, individuals with chronic illnesses or disabilities, and up to $500/$1,000 for foster care-focused charities. To qualify, charities must spend at least 50% of their budget on eligible services in Oklahoma and provide written certification to the Tax Commission, while excluding organizations involved in abortion services. Taxpayers cannot claim this credit if they also take a federal deduction for the same donation, and unused credits may be carried forward for up to five years.