HB 2973 amends Oklahoma law to modify how excise taxes are calculated and applied to the transfer of specific vehicles, including all-terrain vehicles, motorcycles, and utility vehicles. The bill clarifies tax rates for new and used vehicles, establishes a minimum tax amount for off-road vehicles, and defines which transfers are exempt, such as those between family members. Additionally, it outlines rules for commercial vehicles and introduces a credit for taxpayers who replace a stolen or defective new vehicle. The legislation also details penalties for late payments and specifies how tax revenue should be distributed between state funds.
HB 3107 introduced the Oklahoma Small Business Development Act of 2024, which was intended to establish new rules for small business development in the state. The bill did not advance to become law because it failed in a legislative conference committee during the 2024 session. As a result, no specific provisions regarding employer-employee relationships or franchise definitions were enacted.
This bill creates a revolving fund for the Oklahoma Water Resources Board specifically to support levee improvement and matching projects along the Arkansas River. It establishes that money received for these purposes will remain in the fund to be used for future projects, and it includes an initial appropriation of $50 million from unappropriated funds. The legislation also declares an emergency to allow the law to take effect immediately upon approval. However, the bill died in conference after the Senate rejected the committee substitute and a conference committee was formed.
HB 3738 modifies Oklahoma's sales tax exemptions for agriculture to clarify which items and transactions remain tax-free. The bill expands the definition of exempted goods to include specific agricultural supplies, farm machinery, and equipment used directly in farming, while explicitly excluding items like pet animals and non-commercial garden seeds. To prevent abuse, the legislation requires written certification from buyers for certain purchases, such as feed for livestock and materials for agricultural permit holders, and imposes penalties for false claims. Although the bill was introduced to update tax rules for farmers and ranchers, it ultimately did not become law after dying in conference.
HB 3961 updates the definitions used in Oklahoma's ad valorem tax code to clarify how broadband service providers and video services providers are classified for property assessment purposes. The bill establishes specific rules for calculating the taxable value of property owned by these companies, setting a fifteen percent assessment ratio for broadband service providers and defining how video programming revenues factor into valuations. Additionally, the legislation clarifies that certain entities, such as cable television companies and fixed wireless broadband providers, are excluded from specific definitions of public service corporations and transmission companies. This act applies to property placed in service after its effective date of November 1, 2024, and aims to standardize how the State Board of Equalization values these assets for taxation.
This bill creates two new income tax credits for Oklahoma employers and childcare workers effective in 2025. Employers can claim a credit equal to 30% of their spending on childcare assistance, operating on-site facilities, or reserving spots for employees, with a maximum claim of $30,000 per year. Additionally, the bill establishes a refundable $1,000 tax credit for qualified childcare workers who are employed for at least eight months and have completed 12 credit hours of professional development. Both credits are available for tax years through 2029, with annual state limits of $5 million for employer credits and $14 million for worker credits.
This bill creates an investment rebate program in Oklahoma designed to encourage large manufacturing projects in smaller cities. To qualify, businesses must invest at least $800 million in real property located within a municipality of 20,000 to 30,000 people and have already spent at least 20% of their planned investment. The Oklahoma Department of Commerce will review applications and may offer a rebate equal to 6.25% of the qualified capital expenditure costs. Funding for these rebates comes from a new state fund initially seeded with $50 million, with any remaining funds transferred to the general revenue after 2030.
This bill amends Oklahoma's sales tax laws to provide specific exemptions for certain nonprofit organizations and public entities. It clarifies and expands the list of groups that can sell goods or services without paying sales tax, including churches, accredited schools, and various state agencies involved in public construction projects. The legislation also outlines strict requirements for these entities to qualify, such as ensuring sales are not conducted for profit and that proceeds are used for charitable or educational purposes. Additionally, it establishes penalties for individuals who falsely certify that purchases are made on behalf of exempt government agencies.
This bill increases the daily fee paid to jurors in Oklahoma courts from $20 to $75 and authorizes the payment of parking fees for district court jurors. It establishes a new Lengthy Trial Fund to provide wage replacement or supplementation for jurors serving on civil cases for more than ten days, with funding collected through a $10 fee charged to attorneys filing civil cases. The fund is designed to cover the difference between a juror's regular wages and the state jury fee, with specific exemptions for government attorneys, pro se litigants, and cases involving minimal court resources. Additionally, the bill allows courts to award supplemental wages for days four through ten of service if a juror faces significant financial hardship.
This bill creates an investment rebate program to help small municipalities in Oklahoma with populations between 5,000 and 7,000 pay for water and wastewater infrastructure upgrades. To qualify, a municipality must spend at least $30 million on such projects to support a new business in a specific economic sector located within a designated development district, and it must have already spent at least 20% of its planned budget. The Oklahoma Department of Commerce will review applications and issue payments from a new state fund, capping the rebate at $35 million per municipality and the total program at the amount of money designated for the fund. The program is set to run until July 1, 2029, and any remaining funds will be returned to the state's general revenue.
HB 2900 establishes the Public Finance Act of 2023 as a standalone legal document that is not added to the Oklahoma Statutes. The bill designates November 1, 2023, as the effective date for this act. It serves primarily as a procedural measure to name and organize the legislation without altering specific financial rules or policies.
HB 2899, titled the Public Finance Act of 2023, is a procedural bill that establishes the official name for a set of public finance laws but does not create any new rules or change existing policies. The legislation designates these laws as a noncodified act, meaning they are not added to the permanent Oklahoma Statutes codebook. It also sets a specific effective date of November 1, 2023, for when the act becomes active. Ultimately, the bill serves an administrative purpose by organizing legal references without altering how public finance is managed in Oklahoma.
