Oklahoma Amends Parental Choice Tax Credit, Raises Cap to $275 Million

The Oklahoma Governor signs law amending the Oklahoma Parental Choice Tax Credit Program, increasing the maximum amount of tax credits available for qualified educational expenses. The amendment raises the total authorized tax credit cap from $250 million, to $275 million, providing additional funding for private school tuition and homeschooling expenses based on family income levels. The increased tax credit cap will take effect for fiscal year 2027 and all subsequent fiscal years. [H.B. 3705, enacted 05/01/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.