Income tax; modifying amount of personal exemption for certain tax years; modifying amount of standard deduction for certain taxpayers for certain tax years. Effective date.

SB 312 modifies Oklahoma's income tax code by adjusting the personal exemption amount and standard deduction for specific tax years and certain taxpayers. It also introduces two new exemptions: one for women claiming a defined number of dependents and another for taxpayers meeting a specified age threshold. These changes directly affect individual filers in Oklahoma who qualify for the modified exemptions or deductions. The bill does not specify exact new amounts or the full list of affected tax years but alters how these tax benefits are calculated under state law.