HB 3314 allows Oklahoma counties to impose a local tax of up to 15% on retail marijuana sales (not personal cultivation) after voter approval. Counties must hold a special election or use an initiative petition (requiring 5% of registered voters' signatures) to approve the tax, with results requiring a majority vote. Funds collected must be used exclusively for public safety (sheriffs, police, fire departments) and property improvements, and counties must specify the tax's purpose and duration to voters. The Oklahoma Tax Commission will handle tax collection for a 0.5% fee, and counties must provide 60 days' notice before rate changes. The bill takes effect November 1, 2026.
HB 3178 changes how farm equipment and tractors are valued for property tax in Oklahoma. It requires county assessors to apply a specific 25% annual depreciation schedule: 75% of original cost in year one, 50% in year two, 25% in year three, and zero value from year four onward. This applies to equipment used in agricultural production on farms owned, leased, or operated by the owner. The bill affects Oklahoma farmers who own qualifying equipment by reducing their property tax burden after three years. It takes effect January 1, 2027.
HB 1427 creates tax credits for Oklahoma taxpayers who invest in qualifying clean-burning motor vehicle fuel equipment. It directly affects vehicle owners and businesses that install or purchase equipment allowing vehicles to run on compressed natural gas, hydrogen, liquefied natural gas, or liquefied petroleum gas. The bill provides tiered credits: up to $5,500 for light vehicles (under 6,000 lbs), up to $100,000 for heavy trucks (over 26,500 lbs), and 45% of costs for commercial refueling stations. Credits are limited to new, certified equipment meeting safety standards and must be claimed against state income tax. Unused credits can be carried forward for up to five years.
HB 3973 creates a "Southwest Oklahoma Juvenile Center Reestablishment Revolving Fund" in the state treasury to support the Office of Juvenile Affairs (OJA) in restoring the Southwest Oklahoma Juvenile Center in Manitou. The fund allows OJA to use these monies, along with other available funds, to plan, develop, and improve the facility for providing secure care and specialty residential services to Oklahoma youth. It authorizes the Office of Management and Enterprise Services (OMES) to accept properties (like the former facility) offered as gifts or at minimal cost to aid reestablishment. The bill repeals the prior governing section (10A O.S. 2021, Section 2-7-618) and takes effect July 1, 2026.
This bill authorizes an emergency appropriation of approximately $19.66 million to the Oklahoma Department of Mental Health and Substance Abuse Services. The funds must come from the Rate Preservation Fund in the State Treasury and are designated specifically for Title XIX services, which are Medicaid-funded mental health and substance abuse programs. The legislation includes an emergency provision, allowing the funding to take effect immediately upon the governor's approval without waiting for the regular budget cycle. This action provides direct financial resources to the state agency responsible for administering mental health and substance abuse services.
HB 2140 changes how commercial buildings with unfinished interiors are taxed in Oklahoma. It requires county assessors to value such properties - those sold or leased for the new owner/tenant to complete interiors (e.g., flooring, ceilings) - based solely on the cost of construction materials before interior work, not the full building cost. This applies to commercial buildings constructed without final interior elements like finished walls or cabinetry, affecting property owners and contractors selling or leasing these spaces. The law takes effect January 1, 2026, directly impacting property tax assessments for these specific commercial properties.
HB 1834 creates the "Inhofe Disaster Savings Account Act" in Oklahoma, allowing homeowners to set up tax-advantaged savings accounts specifically for covering insurance deductibles or self-insured losses related to qualifying disasters (hurricanes, tornadoes, floods, etc.) at their primary residence. Homeowners can deduct contributions from state taxable income (with limits based on their insurance deductible: $2,000 max for deductibles ≤$1,000, up to $15,000 or twice the deductible for higher deductibles, or $350,000 for self-insured), and all interest earned in the account is exempt from state income tax. Withdrawals are tax-free if used for qualified disaster expenses (declared by federal/state authorities), but otherwise become taxable income with a 2.5% penalty, and accounts pass tax-free to surviving spouses upon death. The law takes effect January 1, 2026, targeting Oklahoma homeowners seeking disaster financial preparedness.
HB 2646 eliminates a limitation on taxpayers deducting wagering income when calculating Oklahoma taxable income, directly affecting individuals and businesses claiming such deductions. The bill amends Oklahoma Statute 68 O.S. § 2358 to allow full itemization of wagering income without prior restrictions. It also updates statutory references and adjusts tax year calculations for net operating losses. The bill was referred to the Governor but received a pocket veto on June 15, 2025, meaning it did not become law.
HB 2645 creates a tax credit for qualifying doctors practicing medicine in rural Oklahoma, directly affecting licensed physicians who meet specific residency and education criteria. The credit, capped at $20,000 per year per doctor, applies to taxable income from medical practice in designated rural areas (population under 25,000 and at least 25 miles from larger cities). The bill includes an annual $1 million total credit limit, with adjustments to prevent exceeding this cap. The bill was pocket-vetoed by the governor on June 15, 2025, and never became law.
HB 1378 would have expanded Oklahoma's sales tax exemptions for agriculture by adding timber to the definition of "agricultural products." This change would have exempted sales of timber (including timber products used in farming) from sales tax, directly affecting Oklahoma agricultural businesses, farmers, and timber producers. The bill amended existing tax code provisions that already exempted farm products, livestock, feed, fertilizer, machinery, and other agricultural supplies. However, the bill was vetoed by the Governor on June 10, 2025, and did not become law.
