Okla. Stat. tit. 68, § 68-2357.302: Credit for employee tuition reimbursement

A. Except as provided in subsection F of this section, for tax

years 2009 through 2031, a qualified employer shall be allowed a

credit against the tax imposed pursuant to Section 2355 of this

title for tuition reimbursed to a qualified employee.

B. The credit authorized by subsection A of this section may be

claimed only if the qualified employee has been awarded an

undergraduate or graduate degree within one (1) year of commencing

employment with the qualified employer.

C. The credit authorized by subsection A of this section shall

be in the amount of fifty percent (50%) of the tuition reimbursed to

a qualified employee for the first through fourth years of

employment. In no event shall this credit exceed fifty percent

(50%) of the average annual amount paid by a qualified employee for

enrollment and instruction in a qualified program at a public

institution in Oklahoma.

D. The credit authorized by subsection A of this section shall

not be used to reduce the tax liability of the qualified employer to

less than zero (0).

E. No credit authorized by this section shall be claimed after

the fourth year of employment.

F. No credit otherwise authorized by the provisions of this

section may be claimed for any event, transaction, investment,

expenditure or other act occurring on or after July 1, 2010, for

which the credit would otherwise be allowable. The provisions of

this subsection shall cease to be operative on July 1, 2011.

Beginning July 1, 2011, the credit authorized by this section may be

claimed for any event, transaction, investment, expenditure or other

act occurring on or after July 1, 2011, according to the provisions

of this section.