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.
This bill, titled "Mathematics instruction..." but actually amending the Oklahoma Higher Learning Access Program, adjusts financial eligibility rules for students seeking higher education support. It raises income thresholds for program qualification (e.g., $80,000 annually for families with five+ children starting in 2025-2026) and adjusts age limits for participation (extending to age 18 for some applicants). Students must meet updated income requirements and comply with program terms like regular school attendance and avoiding substance abuse to maintain eligibility. The bill directly affects Oklahoma students in grades 5-11 seeking financial aid for post-secondary education through this state program.
HB 2610 increases Oklahoma's tax credit for nonrecurring adoption expenses from 10% to 15% of eligible costs, raising the maximum annual credit to $3,000 for single filers or married individuals filing separately, and $6,000 for married couples filing jointly. The credit applies to Oklahoma resident taxpayers who pay for adoption-related expenses such as fees, court costs, medical expenses, and travel, but excludes attorney fees in contested adoptions and home renovations. The Oklahoma Tax Commission will establish rules for verifying qualifying expenses. This change takes effect January 1, 2026.
HB 2758 creates the "Preserving and Advancing County Transportation Fund" (PACT Fund) to allocate oil and gas tax revenues directly to Oklahoma counties for road and bridge maintenance. The fund prioritizes counties with the lowest current road maintenance funding, directing two-thirds of its money to help all counties reach a $4,000 per road mile target for highway upkeep. The remaining one-third is split equally between funding road miles based on statewide totals and allocating funds for county bridges using the most recent ODOT bridge inventory data. This bill directly affects all Oklahoma counties by providing a dedicated, ongoing source of funding for their local road and bridge systems.
HB 2785 requires Oklahoma's Office of Management and Enterprise Services (OMES) to implement stricter budget oversight for the Department of Mental Health and Substance Abuse Services. It mandates OMES to review agency budgets against actual spending before releasing funds, prohibit contracts without clear cost limits, restrict multi-year contract encumbrances to current-year funds, and block payments for unapproved expenses. The bill also requires OMES to report monthly revenue and spending status to the Governor, legislature leadership, and relevant committees. This directly affects state budget management for mental health services by adding specific financial controls to prevent overspending. The law takes immediate effect due to an emergency declaration.
HB 2768 increases the maximum investment cap for Oklahoma's Quality Jobs tax incentive program from $250 million to $700 million. It applies to existing manufacturing companies (SIC code 3011) already participating in the program that seek to expand facilities, requiring them to file a new application before certain tax payments are due. Companies must complete $700 million in facility modernization within five years (with a possible one-year extension if 80% is done by year five) to qualify for additional tax incentives. This change allows larger businesses to claim more tax benefits for qualifying investments under the program.
SB 1143 appropriates $100,000 from the General Revenue Fund to the Office of Management and Enterprise Services for the State Election Board's voting system maintenance. It creates a "State Election Board Voting System Revolving Fund" to cover costs related to election systems, with funds replenished through future appropriations. This bill directly affects Oklahoma's election administration by providing dedicated funding for maintaining voting technology, effective immediately upon becoming law on May 29, 2025.
HB 2797 prohibits Oklahoma's Health Care Authority (OHCA) from using statistical methods like extrapolation to audit Medicaid home and community-based service claims, which could require providers to repay overpayments. It invalidates all past audits using these methods (January 2020-November 2025) and voids related repayment demands. The bill requires OHCA and the Department of Human Services to jointly develop new audit standards and provide training for providers by November 2027. It also mandates compliance with existing fraud reporting rules and updates audit responsibilities for Medicaid waiver programs.
HB 2775 allocates $41.6 million from Oklahoma's Legacy Capital Financing Fund to construct, refurbish, or expand military facilities for the Oklahoma Military Department. The bill requires that recapitalization payments for this fund distribution begin only in the state fiscal year starting July 1, 2026, delaying repayment obligations. The Oklahoma Capitol Improvement Authority may distribute the funds in multiple payments and enter non-binding agreements with state agencies to facilitate the project, without creating legal obligations for the state. This directly benefits military infrastructure and operations across Oklahoma.
