Income tax; expanding credit to include instructor pilots. Effective date.

SB 296 expands Oklahoma's existing income tax credit program to include instructor pilots working for aerospace employers. It defines "instructor pilot" as FAA-licensed flight instructors employed in Oklahoma under federal government contracts, who were not previously working in the aerospace sector. Employers can claim a tax credit equal to 5-10% of an instructor pilot's compensation (depending on where they earned their degree), capped at $12,500 annually for up to five years. This affects aerospace employers hiring qualifying instructor pilots and provides a direct tax benefit to those employers, not the pilots themselves.