Budget & Taxes

HB 1221 creates "SAFE Accounts" in Oklahoma’s State Treasury to manage specific federal funds received by state agencies. It requires agencies to seek legislative approval (via concurrent resolution) before accessing funds from competitive grants, federal relief payments, or block grants, and mandates detailed reporting to the Legislature about grant applications and funding purposes. Existing federal programs already managed by agencies as of January 1, 2025, are excluded from these requirements unless they involve competitive grants needing reapplication after November 2025. The bill also establishes deadlines for submitting notices and holding hearings on new federal funding sources, effective July 1, 2025, for block grants and November 1, 2025, for competitive grants.

HB 1760 creates tax credits for Oklahoma taxpayers who contribute to eligible scholarship-granting or educational improvement organizations. It allows a 50% tax credit (up to $1,000 for individuals, $2,000 for married couples, $100,000 for businesses) on contributions, increasing to 75% for those making a multi-year commitment with written proof. The bill also modifies how credits are allocated to business owners and requires annual financial reporting from participating organizations. These credits are subject to annual caps established by the Oklahoma Tax Commission.

HB 2033 creates a revolving fund called the "Community Health Center Access to Care Revolving Fund" within Oklahoma's State Department of Health. The fund, not limited by fiscal years, will use appropriated monies to increase access to care at federally authorized community health centers (as defined under 42 U.S.C. §330). The Department of Health can spend these funds to support such centers, with expenditures requiring State Treasurer warrants based on approved claims. The bill takes effect July 1, 2025, and was declared an emergency to allow immediate implementation.

HB 2218 creates a state tax rebate program to support local music performances in Oklahoma. It provides rebates on sales tax or drink sales tax collected by venues during eligible events, capped at $10 million annually. To qualify, events must feature Oklahoma-based performers (individuals or businesses owned by Oklahomans) for at least 30 minutes, with venues paying performers at least $100 per event. The rebate limits are $2,000 per event and $50,000 per venue yearly, applying to both ticketed and unticketed venues that sell taxable goods or drinks.