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.
HJR 1053 proposes a constitutional amendment requiring Oklahoma local governments to calculate a "revenue neutral rate" for property taxes each year, which would generate the same revenue as the previous year based on current property valuations. If a county, city, or school district seeks to exceed this rate, it must hold a public hearing, provide detailed written notice to property taxpayers 10 days in advance (including comparisons to prior tax rates), and obtain a majority vote from its governing body. The bill mandates refunds to taxpayers if local governments fail to follow these procedures when levying taxes above the revenue neutral rate. It excludes taxing districts receiving under $5,000 annually in property tax revenue.
HJR 1054 proposes a constitutional amendment exempting business inventory from Oklahoma's ad valorem property tax starting January 1, 2027. It directly affects for-profit businesses, estates, and trusts that record inventory in their books for tax purposes. The key provision adds Section 6D to Article X of the Oklahoma Constitution, exempting "personal property described as inventory" in business records. This would require voter approval through a legislative referendum, as outlined in the proposed ballot title. The amendment does not change existing tax rules for non-inventory business property.
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 2968 proposes changes to how Oklahoma calculates taxable income for corporations and adjusted gross income for individuals. It specifically adds interest income from state and local bonds (not already exempt) to taxable income, adjusts federal net operating loss deductions based on Oklahoma-sourced losses, and revises rules for allocating income from property and business activities. These changes would directly affect all Oklahoma taxpayers by altering their state tax calculations. The bill modifies existing tax code provisions but does not specify an effective date in the provided text.
HB 3237 amends Oklahoma's motor vehicle excise tax law to create a new exemption for surviving spouses of veterans who were awarded Gold Star status (indicating the veteran died in military service). This exemption directly affects eligible surviving spouses who own vehicles, removing the requirement to pay the standard excise tax on those vehicles. The bill adds this exemption as a new provision (section 11) to the existing list of tax exemptions in the statute. The key mechanism is eliminating the tax obligation for qualifying vehicles owned by these surviving spouses, with the exemption applying to vehicles registered in Oklahoma. The bill does not change other existing exemptions or tax rates.
HB 3751 expands Oklahoma's homestead property tax exemption to include mobile homes and site-built homes (whether on owned or rented/leased land) when occupied as a primary residence. It clarifies that owners must actually reside there to qualify, with special provisions for tornado victims (2013+ disasters with federal disaster declarations). The bill defines rural homesteads as up to 160 acres and urban homesteads as no more than 1 acre. It takes effect January 1, 2027.
HB 4318 allows Oklahoma businesses collecting sales and use tax to deduct a small amount for record-keeping and filing costs. Specifically, it authorizes a 1% deduction on the tax owed (capped at $1,000 per month per business account), but excludes deductions for direct payment permits or late filings (unless due to a declared natural disaster). The bill applies directly to businesses that collect and remit sales/use tax in Oklahoma, covering both the tax calculation process and monthly reporting requirements. It becomes effective November 1, 2026.
HB 1171 modifies Oklahoma's sales tax exemption rules for nonprofits by requiring organizations to have annual gross revenue under $500,000 to qualify for exemption on tangible personal property and services. It specifically excludes alcohol and tobacco sales from the exemption, meaning nonprofits selling these items cannot claim tax-free status. This change directly affects small nonprofits that previously qualified for full exemption but now must meet the revenue threshold to maintain tax-free status on other sales. The bill also updates existing exemption categories but does not alter the core tax treatment for qualifying nonprofits beyond the revenue limit and alcohol/tobacco exception.
