Income tax credit; modifying credit amount for qualified employee in aerospace sector. Effective date.

SB 1392 modifies Oklahoma's income tax credit for qualified employees in the aerospace sector. It increases the annual credit from $5,000 (for tax years 2009-2026) to $10,000 (for tax years 2027-2031), allowing a maximum of $10,000 per year for up to five total years. Unused credits can be carried forward to future tax years, but the credit cannot reduce taxes below zero. The bill would take effect November 1, 2026, if passed.