SB 248 modifies how funds from real property sales are allocated to the Oklahoma Tourism and Recreation Department Revolving Fund. It requires that all money derived from selling, leasing, or transferring state-owned real property (excluding concessionaire agreements) must be used *exclusively* for maintenance and capital projects at Oklahoma state parks. The bill explicitly prohibits using these funds for any employee compensation at state agencies. This change ensures property sale revenue directly supports park improvements rather than staffing costs, while keeping other fund uses for department operations and real property purchases.
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.
HB 2894 amends Oklahoma's Tourism Development Act to adjust sales tax credit rules for tourism projects. It provides up to 10% tax credits for projects costing $500,000-$1 million and up to 25% for projects over $1 million, but credits cannot exceed the state's potential sales tax revenue from the project. The bill allows tourism developers in Entertainment Districts to pass credits to tenants or receive incentive payments based on tenant sales tax collections, subject to a $30 million annual cap on all inducements. Developers must verify expenditures with independent audits, and credits cannot be transferred except as specified for Entertainment District tenants.
HB 1590 establishes the "Oklahoma Education Infrastructure Linked Deposit Program" to provide reduced-rate loans for school infrastructure projects. It directly affects charter schools and nonprofit education service entities by enabling them to access funding for constructing, expanding, or repairing buildings and integrated systems like HVAC. The program works by having the State Treasurer place state funds (as certificates of deposit) with eligible banks, which then offer these low-cost loans to qualifying schools, requiring borrowers to certify funds will be used solely for infrastructure. The State Treasurer and Board review applications, with banks applying standard credit checks and prioritizing schools based on local educational needs.
SB 137 creates the "Oklahoma State Penitentiary Prison Rodeo Revolving Fund" to finance improvements to the prison rodeo arena at Oklahoma State Penitentiary. It appropriates $8.3 million from the General Revenue Fund for facility construction, repair, and upgrades to support prison rehabilitation programs and local economic development. The fund, managed by the Department of Corrections, will cover costs for the arena's maintenance and programming. This bill directly affects the Oklahoma Department of Corrections and the operations of the prison rodeo program at Oklahoma State Penitentiary.
SB 1122 requires Oklahoma's State Board of Equalization to assess property used for **wired broadband service** (offering internet over 100 Mbps download/20 Mbps upload) at a **15% tax rate** for tax years 2026-2036. It applies only to infrastructure in areas with **less than 10% broadband coverage** (per FCC maps) and exclusively to property used for broadband, excluding other services like video streaming. The bill amends tax code to define "broadband service providers" and mandates this specific assessment ratio for qualifying assets, including fiber, cables, and network infrastructure. This policy directly affects **wired broadband providers** expanding service in underserved rural or low-coverage regions.
HB 3711 requires Oklahoma school districts with websites to publicly disclose detailed spending data on their websites, including all state, federal, and local funds used for instruction, administration, and other purposes. It specifically mandates that districts display the percentage of total spending allocated to "instructional expenditures" (defined as funds directly supporting teaching, per the National Center for Education Statistics) on their homepage. This applies to all school districts with websites, requiring them to post this information alongside full expenditure details like budgeted vs. actual costs and superintendent compensation. The bill aims to increase transparency for parents and the public about how school funds are spent.
This bill proposes a constitutional amendment to establish the "Tobacco Settlement Endowment Trust Fund" for Oklahoma's tobacco settlement funds. It requires that at least 75% of new tobacco settlement payments (after 2001) be deposited into this trust fund, with specific percentages increasing over time. The trust fund's earnings must be used for cancer research, tobacco prevention programs, children's health initiatives, senior care programs, and education-related expenses, with unused funds remaining in the trust. The amendment creates two governing boards to manage investments and allocate funds, and it would require voter approval before taking effect.
HB 3704 directs Oklahoma to participate in a federal income tax credit program allowing individuals to claim a credit for donations to scholarship granting organizations (SGOs). The bill requires the Governor to certify Oklahoma's participation to the U.S. Treasury and designates the Oklahoma Tax Commission to register SGOs, maintain their lists, and handle federal reporting. This enables Oklahoma taxpayers to claim the federal credit for qualifying donations, while coordinating with Oklahoma's existing state tax credit for SGO contributions. The law takes effect July 1, 2026, and remains in place until changed by law or federal policy.
HB 3595 creates a permanent "Safer Counties Revolving Fund" within Oklahoma's State Treasury, managed by the Department of Public Safety. This fund, financed by existing legislative appropriations to the Department, provides grants to all Oklahoma counties to purchase public safety and traffic barrier equipment. Counties must use these funds solely for public safety purposes and cannot divert them to other uses. The fund operates without annual budget restrictions, allowing ongoing disbursements for safety equipment purchases.
