HB 4432 amends Oklahoma's tax code to eliminate a limitation on itemizing wagering income for tax purposes and updates statutory references throughout the Oklahoma Revenue and Taxation Act. It specifically adjusts how businesses calculate Oklahoma taxable income, particularly regarding federal net operating loss deductions and the allocation of income from property or business activities. The bill clarifies that Oklahoma net operating losses must be separately determined using federal rules but without requiring a federal loss, and it updates rules for allocating income from intangible property and certain business activities. This is a procedural update to the tax code, not a new tax or policy change, and it affects businesses and individuals filing Oklahoma income taxes. The bill was introduced in 2026 but has not advanced beyond committee referral.
SB 2084 caps settlement amounts for wrongful termination claims by employees of Oklahoma public institutions of higher education (like state universities) at two years of their base salary at termination. It limits total settlements to include back pay and damages but excludes accrued unpaid wages, leave, and retirement contributions already earned. The bill specifically applies to state law claims, not federal ones, and takes effect November 1, 2026. This directly affects public university employees filing termination disputes under Oklahoma law.
HB 3465 extends the termination date for Oklahoma's Emission Reduction Technology Rebate Program from July 1, 2027, to July 1, 2029. This change directly affects businesses and entities participating in the rebate program, allowing them to continue receiving incentives for emission-reducing technology through 2029. The bill amends Section 55012 of the Oklahoma Statutes to update the program's end date while maintaining existing rebate mechanisms. It becomes effective November 1, 2026.
HB 3590, the Oklahoma Opportunity Scholarship Act of 2026, expands tax credits for Oklahoma taxpayers who contribute to scholarship-granting organizations. It increases the maximum annual tax credit: to $5,000 for single filers (up from $1,000), $10,000 for married couples filing jointly (up from $2,000), and $250,000 for businesses (up from $100,000). Taxpayers who commit to contribute the same amount for two consecutive years qualify for a 100% credit (up from 75%) on those contributions. The bill affects Oklahoma taxpayers making eligible contributions and requires scholarship organizations to submit annual financial reports to the Oklahoma Tax Commission. It takes effect January 1, 2027.
SB 1403 modifies Oklahoma's Quality Jobs Incentive Program by extending eligibility periods and adjusting wage requirements. It extends incentive contracts from 15 to 30 years for businesses in the entertainment industry (NAICS 711211) without additional funds, while lowering the required annual payroll for manufacturing businesses (NAICS 3111-3119) from $2.5 million to $1.5 million. The bill also adds special provisions for businesses operating on contaminated Superfund sites, allowing them to qualify for incentives if they meet environmental remediation requirements and generate 50% of Oklahoma taxable income at the site. These changes directly affect new businesses seeking state tax incentives for job creation and payroll growth.
HB 3882 creates a new "Lake and Industrial Access Revolving Fund" within Oklahoma's State Treasury for the Oklahoma Department of Transportation (ODOT). The fund will use existing DOT-received monies to provide recurring grants through ODOT's Lake Access and Industrial Access programs, with no annual budget restrictions. It allows ODOT to reuse funds for these specific projects without needing annual legislative appropriations. The bill takes effect July 1, 2026, and declares an emergency to expedite implementation. This directly affects ODOT's grant programs and the communities/businesses receiving infrastructure support for lake access or industrial site development.
HB 4215 establishes the "Oklahoma Film, Television and Music Incentives Act of 2026," creating a new economic development program for the state's film, television, and music industries. The bill formally names the incentive program and sets its effective date as November 1, 2026. It does not detail specific financial incentives or eligibility rules in the provided text. This legislation directly affects producers and businesses in Oklahoma's entertainment sector by establishing a framework for potential future incentives. The bill is currently in early committee review with no specific provisions outlined beyond its name and effective date.
Oklahoma's SJR 39 proposes a constitutional amendment to reduce limits on annual increases in property tax assessments. It would lower the maximum annual growth rate for most real property from 5% to 3% (for tax years 2027 onward) and further reduce limits for homestead properties (primary residences) and agricultural land from 3% to 1%. The amendment applies to locally assessed real property, excluding personal property and properties with recent transfers or improvements. If approved by voters, these changes would take effect for tax years beginning in 2027.
HB 4346 modifies Oklahoma's sales tax exemption for agricultural purchases by requiring specific proof of eligibility. It establishes an agricultural exemption permit obtained through county assessors (verifying farming property and no tax delinquencies) or alternative documents like IRS Schedule F forms or Farm Service Agency paperwork. The bill also allows vendors to honor out-of-state permits from Texas, Arkansas, Kansas, New Mexico, or Missouri for qualifying agricultural purchases. Additionally, it requires permit holders to notify vendors of non-exempt purchases to maintain their exemption, with a $500 penalty for misuse on non-qualifying items.
This Oklahoma House Concurrent Resolution expresses support for eliminating the United States Department of Education and urges the U.S. Congress to cooperate with that goal. The document argues that education is a state responsibility under the Tenth Amendment and claims that federal involvement has led to excessive regulations and poor student outcomes in Oklahoma. It highlights concerns about declining national reading scores and asserts that local control would better address educational needs. The resolution does not change any laws or policies within Oklahoma but serves as a formal statement of legislative sentiment regarding federal education policy.
