Okla. Stat. tit. 59, § 59-567.31: Advanced Practice Registered Nurse Preceptor Tax Credit

Revolving Fund.

There is hereby created in the State Treasury a revolving fund

for the Oklahoma Board of Nursing to be designated the “Advanced

Practice Registered Nurses 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 Advanced Practice

Registered Nurses 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.