A bill that would ensure clarity for those engineers and\nemployers using one of the best aerospace tax incentive programs in the state\nof Oklahoma was signed by the Governor on May 28.<\/p>\n\n\n\n
Senate Bill 893 by Sen. Adam Pugh, R-Edmond and Rep. Scott\nFetgatter, R-Okmulgee, is the culmination of a multi-year effort by the\nlegislature to ensure an interpretation of which engineers and the employers\nthat hire them can qualify for the tax credit.<\/p>\n\n\n\n
The measure clarifies that graduates of programs of the same\ndiscipline of engineering at a higher education institution will receive the\ntax credit so long as either the graduate or undergraduate degree is ABET\naccredited. The measure also modifies the term \u201cqualified employee\u201d to require\nsuch persons to possess either an undergraduate or graduate degree from a\nqualified program by an institution or be a licensed Professional Engineer.<\/p>\n\n\n\n
\u201cThe engineer tax credits are a major reason aerospace is\none of the fastest growing industries in our state, and I am grateful to\nSenator Pugh and the Legislature for sending SB 893 to my desk this session,\u201d\nsaid Governor Kevin Stitt. \u201cOklahoma is becoming a national hub for aerospace,\nand I will continue to support policies that expand and grow this critical\nindustry for our state.\u201d<\/p>\n\n\n\n
\u201cThese credits have been significant for Tinker Air Force\nBase, the world\u2019s largest military aircraft repair facility and the largest\nemployer of engineers in aerospace in Oklahoma. In addition to Tinker, Boeing\nand Oklahoma City operations list these tax credits among the top 3 reasons for\nadding over 3,000 jobs to Oklahoma over the last several years,\u201d said Pugh.<\/p>\n\n\n\n
Proponents believe the credits have contributed in a\nsignificant way to the rapid growth experienced in aerospace over the last 10\nyears. Aerospace is Oklahoma\u2019s fastest-growing industry, and according to the\nAeronautics Commission economic impact study, the industry\u2019s annual economic\nactivity is $44 billion a year.<\/p>\n\n\n\n
\u201cThe amendments maintain the integrity of ABET accreditation\nbut make it clear that if you get your graduate degree in engineering from a\nuniversity in which the corresponding undergraduate degree is ABET accredited,\nyou qualify for the credits. The amendments also allow an engineer with a\nProfessional Engineer license employed in the aerospace industry to qualify for\nthe tax credits,\u201d said Fetgatter.<\/p>\n\n\n\n
The Aeronautics Commission fostered the engineer tax credits\nlegislation in 2008 so that engineers with an undergraduate or graduate degree\nin engineering from an ABET accredited institution qualified for the credits.<\/p>\n\n\n\n
\u201cThis alternative avenue of qualification will be very\nhelpful to foreign-born engineers and will have very little economic impact on\nthe State,\u201d said State Director of Aeronautics Grayson Ardies.<\/p>\n","protected":false},"excerpt":{"rendered":"
A bill that would ensure clarity for those engineers and employers using one of the best aerospace tax incentive programs in the state of Oklahoma was signed by the Governor on May 28. Senate Bill 893 by Sen. Adam Pugh, R-Edmond and Rep. Scott Fetgatter, R-Okmulgee, is the culmination of a multi-year effort by the […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[56],"tags":[],"class_list":["post-18594","post","type-post","status-publish","format-standard","hentry","category-oklahoma"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/18594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/comments?post=18594"}],"version-history":[{"count":1,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/18594\/revisions"}],"predecessor-version":[{"id":18595,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/18594\/revisions\/18595"}],"wp:attachment":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/media?parent=18594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/categories?post=18594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/tags?post=18594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}