Revenue and taxation; Senior Service Corps Act of 2025; adjustments to Oklahoma adjusted gross income and taxable income; support services; schools; effective date.

HB 1248 amends Oklahoma's tax code to adjust how taxable income is calculated for individuals and corporations. It adds state/local interest income not federally exempt, deducts amounts Oklahoma cannot tax due to constitutional or legal limits, and revises rules for net operating loss carryovers (particularly for tax years after 2007). The bill directly affects Oklahoma taxpayers by changing their state tax calculations based on federal rules and Oklahoma-specific adjustments. The title referencing a "Senior Service Corps" appears inconsistent with the actual tax provisions and may be a drafting error.