Revenue and taxation; income tax credits; qualified employees; qualified employers effective date.

HB 1602 creates tax credits for Oklahoma vehicle manufacturing companies that hire engineers with ABET-accredited degrees. Employers can claim a 50% credit on tuition reimbursement (capped at $5,000 annually) and 5-10% on salaries (capped at $12,500 annually) for the first 4-5 years of employment. Total credits are limited to $3 million annually for employer credits and $2 million for employee credits. The program expires after 2031.