Revenue and taxation; practice of medicine; tax credit; time period; effective date.

Increased the maximum annual tax credit for qualifying doctors from $20,000 to $25,000.

Raised the total annual state funding cap for the credit program from $1,000,000 to $1,000,000 and added a rule to disallow the credit if the cap is reached.

Expanded the definition of 'rural area' to include locations directly employed by tribally owned or operated health facilities or the federal Indian Health Service.

Changed the document header from 'Committee Substitute' to 'Floor Version' to reflect its status as the final House bill.

The maximum individual tax credit per doctor was reduced from $25,000 to $20,000 per year.

A new total annual cap of $1,000,000 was established for all credits claimed under this section combined.

The Oklahoma Tax Commission is now required to calculate and publish a reduction percentage if the total credits claimed exceed the $1,000,000 limit.

The effective date for the credit was set to January 1, 2026, with the new total cap applying starting in tax year 2028.

The entire text of the bill was replaced with a new version marked as a 'Committee Substitute' instead of a 'Proposed Policy Committee Substitute', indicating the bill has been formally amended by the House Committee.

Document headers and footers were updated to reflect the new committee substitute status, including changes to the request number (from 12415 to 13162) and the date of the amendment.

The maximum individual tax credit amount was increased from $20,000 to $25,000.

Eligibility was expanded to include doctors whose primary residence is in a federally recognized tribe and who are directly employed by a tribally owned health facility or the Indian Health Service.

The method for limiting total credits changed from an automatic percentage reduction to a hard cap that suspends the credit entirely for any year where the total claimed exceeds $1 million.

The definition of 'rural area' was updated to include jurisdictions within federally recognized tribes.

The Oklahoma Tax Commission's reporting requirement was changed from publishing a reduction percentage to publishing an estimate of cumulative credits to trigger the suspension of the program.

The maximum tax credit amount for a qualifying doctor was reduced from $25,000 to $20,000 per year.

A new annual cap of $1,000,000 was established for the total credits issued in any given year.

A specific mathematical formula was added to automatically reduce individual credit amounts if the total claimed exceeds the $1 million annual cap.

The previous rule that would completely disallow the credit for a doctor in a year where the total cap was exceeded was removed; instead, credits are now simply reduced proportionally.

The definition of a 'rural area' was slightly clarified by changing references from 'Oklahoma' to 'this state' to ensure consistency within the statute.

Co-sponsors were added to the bill header, and the summary description was updated to reflect the new funding limits and adjustment formula.

The maximum annual tax credit allowed for a qualifying doctor increased from $20,000 to $25,000.

The effective date for the new tax credit provisions was established as January 1, 2026, applying to taxable years beginning after December 31, 2025.

The bill text was reorganized to reflect the final agreement between the House and Senate, including updated page headers and the removal of the Senate amendment marker.

The effective date for the tax credit was changed from November 1, 2025, to January 1, 2026, meaning the credit applies to tax years starting after December 31, 2025, instead of the previous date.

The bill was amended to be codified in the Oklahoma Statutes under Section 2357.410 of Title 68, replacing the original instruction that the law would not be codified.

The title of the act was updated from 'Oklahoma Revenue and Taxation Act of 2025' to a generic description of the topics covered, as required by the new codification structure.