Income tax; providing tax credit for certain teachers. Effective date.

SB 1776 creates a $10,000 annual income tax credit for Oklahoma teachers who have completed eight consecutive years teaching in the same school district. To qualify, teachers must continue teaching in that district for the remainder of their eighth year plus three additional years (with exceptions for layoffs, death, or medical hardship). The credit is refundable, meaning any amount exceeding a teacher's tax liability will be paid directly to them. The Oklahoma Tax Commission may audit claims and require repayment if eligibility is later found to be invalid. This bill would apply to tax years starting in 2027.