Income tax; modifying certain apportionment factor for calculation of Oklahoma taxable income. Effective date.

The bill header was changed from 'ENGROSSED SENATE' to 'HOUSE OF REPRESENTATIVES - FLOOR VERSION' indicating the bill moved from Senate to House consideration.

Two additional sponsors (Maynard and Lepak) were added to the House sponsors list in the House version.

The bill structure was reorganized with page numbers and section numbering changed, though the core tax adjustment provisions (interest income additions, deductions, and net operating loss rules) appear substantively unchanged.

Some text was removed during the transition, particularly in the net operating loss carryback provisions, potentially creating gaps in the House version that need clarification.

Added House coauthors (Maynard and Lepak) and updated the bill's title to reflect it is now an engrossed version passed by both chambers.

Adjusted page numbering and formatting throughout the document to reflect the House amendment process.

Added blank lines and spacing in various sections, likely for formatting purposes during the amendment process.

Added new allocation rules for taxable years beginning after December 31, 2003, specifically addressing capital or ordinary gains from selling ownership interests in publicly traded partnerships.

Defined 'publicly traded partnership' as a partnership meeting the requirements of Section 7704(b) of the Internal Revenue Code of 1986.

Established a new allocation formula: gains are allocated to the state in the ratio of the partnership's tangible property in the state to its total tangible property everywhere, based on original cost at the time of sale.

Added a threshold provision: if more than 50% of the partnership's assets are intangible, the allocation rules apply differently (text appears incomplete in the provided excerpt).