Income tax; modifying certain income tax rate for certain tax years. Effective date.

SB 308 modifies Oklahoma's income tax code by lowering the top tax rate from 7% to 6.65% on the highest portion of taxable income for tax years beginning in 2004 or later. This change affects all Oklahoma residents and nonresidents filing income tax returns under the standard tax calculation method. The bill updates the statutory language for the highest tax bracket (the "remainder" portion) but does not alter other tax bracket thresholds or rates. It also corrects outdated statutory references in the existing tax code.