Income tax; providing credit for employers who make payments on student loan debt of employees. Effective date.

SB 106 creates a 30% tax credit for Oklahoma employers who pay down employees' student loan debt, effective for tax years starting in 2026. The credit directly affects employers (not employees) and cannot reduce tax liability below zero, but unused portions can be carried forward for up to 10 years. Employers must claim the credit using forms and documentation specified by the Oklahoma Tax Commission. The bill takes effect November 1, 2025.