Okla. Stat. tit. 59, § 59-645.1
This is the official text of Okla. Stat. tit. 59, § 59-645.1, part of Oklahoma’s Stat. tit. 59, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 59,." Browse the sections below, each linked to its official government source.
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Osteopathic Physician Preceptor Tax Credit Revolving
Official statutory text
Fund.
There is hereby created in the State Treasury a revolving fund
for the State Board of Osteopathic Examiners to be designated the
“Osteopathic Physician Preceptor Tax Credit Revolving Fund”. The
fund shall be a continuing fund, not subject to fiscal year
limitations, and shall consist of the monies received by the Board
from a portion of licensure fees received from osteopathic
physicians under subsection I of Section 1 of this act. All monies
accruing to the credit of the fund are hereby appropriated and the
fund shall be used to make a transfer payment to the Oklahoma Tax
Commission in an amount equal to the amount of tax credits awarded
pursuant to this act. The Oklahoma Tax Commission shall apportion
monies transferred from the fund in the same manner as provided by
Section 2352 of Title 68 of the Oklahoma Statutes. Monies in the
fund which are not required for payment of administrative expenses
to the Health Care Workforce Training Commission, which shall not
exceed five percent (5%) of monies apportioned to the fund, or which
are not required to be transferred to the Oklahoma Tax Commission as
otherwise required by this act to offset the revenue impacted by the
use of the income tax credits awarded pursuant to Section 1 of this
act may be used to implement programs required or authorized by law.
There is hereby created in the State Treasury a revolving fund
for the State Board of Osteopathic Examiners to be designated the
“Osteopathic Physician Preceptor Tax Credit Revolving Fund”. The
fund shall be a continuing fund, not subject to fiscal year
limitations, and shall consist of the monies received by the Board
from a portion of licensure fees received from osteopathic
physicians under subsection I of Section 1 of this act. All monies
accruing to the credit of the fund are hereby appropriated and the
fund shall be used to make a transfer payment to the Oklahoma Tax
Commission in an amount equal to the amount of tax credits awarded
pursuant to this act. The Oklahoma Tax Commission shall apportion
monies transferred from the fund in the same manner as provided by
Section 2352 of Title 68 of the Oklahoma Statutes. Monies in the
fund which are not required for payment of administrative expenses
to the Health Care Workforce Training Commission, which shall not
exceed five percent (5%) of monies apportioned to the fund, or which
are not required to be transferred to the Oklahoma Tax Commission as
otherwise required by this act to offset the revenue impacted by the
use of the income tax credits awarded pursuant to Section 1 of this
act may be used to implement programs required or authorized by law.
Status: in_force · Read it on the official government site
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