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Gov. Stitt signs bill to give $5,000 tax exemption to foster families

Oklahoma Capitol building
Posted at 3:17 PM, May 01, 2019
and last updated 2019-05-01 16:17:54-04

OKLAHOMA CITY — Gov. Kevin Stitt on Tuesday signed a bill that will give some financial relief to Oklahoma's more than 4,100 foster families.

Senate Bill 893 will provide a $5,000 income tax exemption for anyone contracting with a child-placing agency beginning on Jan. 1, 2019.

“There are nearly 8,000 children in state custody who have been removed from their homes because of abuse or neglect. No child should ever have to go through this but fortunately Oklahoma has families who selflessly open their hearts and homes to help these kids and their biological families,” Sen. Paul Scott said. “DHS is always in need of more foster homes to meet the needs of the children in their care. This exemption will provide foster families with some financial relief as well as hopefully help recruit many more great families.”

In order to qualify for the exemption, the taxpayer must have been under contract and providing care for at least six months or claim a pro rate exemption.

DHS hopes to recruit another 400 foster families by the end of June to their annual goal of 900 new and approved foster homes.

The bill will go into effect on Nov. 1.

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