STATE OF OKLAHOMA

1st Session of the 52nd Legislature (2009)

SENATE BILL 1136	By:	Bass

AS INTRODUCED

An Act relating to revenue and taxation; creating the Healthy Choices Tax Credit; providing short title; providing for an income tax credit for certain expenditures relating to providing nutritional information; limiting amount of credit; setting eligibility requirements; defining terms; providing for carryforward of unused credit; requiring Oklahoma Tax Commission to promulgate rules; providing for noncodification; providing for codification; and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     NEW LAW     A new section of law not to be codified in the Oklahoma Statutes reads as follows:
This act shall be known as may be cited as the "Healthy Choices Tax Credit".
SECTION 2.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 2357.305 of Title 68, unless there is created a duplication in numbering, reads as follows:
A.  For taxable years beginning after December 31, 2009, there shall be allowed a credit against the tax imposed by Section 2355 of Title 68 of the Oklahoma Statutes to a food facility for up to twenty percent (20%) of the expenses resulting from the disclosure of nutritional information as required by Enrolled Senate Bill No._____ of the 1st Session of the 52nd Oklahoma Legislature.  In no event shall the amount of the credit exceed Five Thousand Dollars ($5,000.00) for each taxpayer.
B.  In order to qualify for the tax credit provided for in subsection A of this section, the food facility shall comply with all requirements pursuant to Enrolled Senate Bill No._____ of the 1st Session of the 52nd Oklahoma Legislature and shall not have been assessed a fine pursuant to subsection D of Section 3 of Enrolled Senate Bill No._____ of the 1st Session of the 52nd Oklahoma Legislature.
C.  As used in this section:
1.  "Food facility" has the same meaning as defined in paragraph 5 of Section 1 of Enrolled Senate Bill No._____ of the 1st Session of the 52nd Oklahoma Legislature; and
2.  "Expenses" means printing, signage and testing for nutritional information.
D.  In no event shall the amount of the credit exceed the amount of any tax liability of the taxpayer.
E.  Any credits allowed but not used in any tax year may be carried over, in order, to each of the four (4) years following the year of qualification.
F.  The Oklahoma Tax Commission shall promulgate such rules as may be necessary to implement the provisions of this act.
SECTION 3.  This act shall become effective November 1, 2009.

52-1-1330	JCR	1/15/2009 7:05:09 PM