Budget & Taxes

signed · Oklahoma · Senate May 29, 2025

SB 287: Income tax; modifying tax years for aerospace tax credit. Effective date.

SB 287 extends Oklahoma's aerospace tax credit program, allowing employers in the aerospace sector to claim credits for tuition reimbursement and compensation paid to qualified employees through 2031. The credit for tuition is 50% of the cost (capped at the average public tuition in Oklahoma) for the first four years of employment, while the credit for compensation is 10% for employees with Oklahoma degrees or 5% for out-of-state graduates, applicable for the first five years of employment. This bill affects aerospace businesses and certain educational institutions, specifically targeting employees with ABET-accredited aerospace engineering degrees or licensed engineers.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill extends tax credit for aerospace sector, reducing state revenue through targeted tax break, weakening budget revenue stream.95% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

signed · Oklahoma · House May 28, 2025

HB 2764: Revenue and taxation; duties of the State Board of Equalization; certification of revenue amounts; income tax rate reduction; effective date.

HB 2764 establishes a framework for determining when Oklahoma can reduce income tax rates based on state revenue levels. It requires the State Board of Equalization to annually certify five-year average revenue amounts from oil, natural gas, and corporate income taxes. If projected revenue exceeds these averages, specific portions (100% for oil/gas, 25% to a reserve fund and 75% to a stabilization fund for corporate tax) must be deposited into state funds. This bill directly affects Oklahoma taxpayers paying these specific taxes and sets the revenue thresholds that would trigger future income tax rate reductions. The law was approved by the Governor on May 28, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesEnables income tax rate reductions when revenue exceeds thresholds, directs excess to stabilization fund, promoting fiscal responsibility and tax relief.90% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

signed · Oklahoma · Senate May 27, 2025

SB 684: Income tax credit; relating to the Oklahoma Parental Choice Tax Credit Act; modifying tax years for which certain annual credit limit is enforced; prescribing procedure for enforcement of annual limit. Effective date. Emergency.

SB 684 modifies Oklahoma's Parental Choice Tax Credit Act by increasing the annual credit limit to $7,500 for eligible taxpayers claiming credits for private school tuition and related education expenses. It changes the tax years for which the credit limit applies and requires the Oklahoma Tax Commission to maintain a publicly accessible, searchable online list of all taxpayers claiming the credit, including their names, credit amounts, and the specific law authorizing the credit. This bill directly affects Oklahoma taxpayers claiming the education credit and participating private schools, which must provide information to the Tax Commission. The law also specifies that qualified expenses include tuition at accredited private schools or certain educational services like tutoring and materials. The changes take effect immediately upon the bill's approval.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credit limit to $7,500 for private school tuition, providing tax relief under parental choice program.90% confidence ✓ EducationSupports EducationIncreases tax credits for private school tuition, expanding educational access through school choice programs.90% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

signed · Oklahoma · Senate May 15, 2025

SB 1112: Lodging tax; excluding discounted or comped rooms or lodging from gross receipts upon which a lodging tax is levied. Effective date.

This Oklahoma bill changes how lodging tax is calculated by excluding free rooms (comped) and discounted rooms where hotels receive no payment from taxable income. It applies to all counties and cities collecting lodging tax under existing law. Hotels will no longer owe tax on rooms provided at no cost to customers or employees, or discounted rooms without third-party reimbursement. The change takes effect January 1, 2026.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExcludes comped/discounted rooms from taxable income, reducing state lodging tax revenue and weakening tax base for budget purposes.90% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

passed · Oklahoma · House May 8, 2025

HB 1200: Revenue; taxation rates; income; exemptions; deductions; effective date.

HB 1200 establishes a revenue stabilization mechanism for Oklahoma's state budget. It requires the State Board of Equalization to certify five-year average revenue from oil, natural gas, and corporate income taxes. If annual revenue exceeds these averages, specific percentages (25% to the Constitutional Reserve Fund, 75% to the Revenue Stabilization Fund) must be deposited - unless revenue growth exceeds $400 million (adjusted for inflation), which could trigger future tax rate reductions. The bill does not change tax rates directly but links fund deposits to revenue performance, affecting how state funds are managed rather than individual taxpayers. This procedural bill focuses on budget stability rules, not new tax policies.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates revenue stabilization fund requiring deposits when revenue exceeds averages, promoting fiscal responsibility through reserve building and potential future tax reductions.90% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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signed · Oklahoma · House May 7, 2025

HB 1372: Revenue and taxation; gross production tax; limited exemption for production from certain wells; surety; effective date; emergency.

HB 1372 temporarily lowers the gross production tax rate for oil and gas from existing wells (spudded before the law's effective date) to 5% for 36 months, instead of the standard 7%. It also creates two new tax exemptions: 1) 5 years of tax-free production for secondary/tertiary recovery projects approved after July 2022, and 2) a 24-month tax exemption for wells using recycled water (proportional to recycled water usage). For orphaned wells, producers must post a $25,000 surety bond per well to qualify for a 50% tax reduction for 36 months. The bill sets annual refund limits of $15 million for recovery projects and $10 million for recycled water exemptions, requiring producers to apply for refunds through the Tax Commission.

Topics ✗ Budget & TaxesOpposes Budget & TaxesReduces tax rates (7%→5%) and creates exemptions for oil/gas producers, weakening state tax revenue collection.95% confidence ✗ EnergyOpposes EnergyBill provides tax breaks for oil/gas production, favoring fossil fuels over renewables, opposing clean energy transition through targeted exemptions.85% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

passed · Oklahoma · House Apr 28, 2025

HB 2087: Revenue and taxation; income tax credit; research institutes; effective date.

HB 2087 modifies Oklahoma's income tax credit for donations to qualified research institutes. It adjusts annual funding caps: for biomedical research institutes, the limit drops from $2 million to $1.5 million per year starting in 2026, while cancer research institute credits are capped at $500,000 annually. The credit percentage for each donation type is recalculated yearly based on prior-year claims, using specific formulas to stay within these new limits. Taxpayers donating to qualifying nonprofit biomedical or cancer research institutes (defined by NIH funding requirements) can claim the credit, with individual limits of $1,000-$25,000 depending on filing status or business type.

Topics ✗ Budget & TaxesOpposes Budget & TaxesReduces annual tax credit caps for research institutes, restricting tax benefits and limiting government spending on these credits.95% confidence ✗ HealthcareOpposes HealthcareReduces funding caps for biomedical/cancer research institutes, limiting tax credit support for healthcare research through lower annual donation limits.85% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

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passed · Oklahoma · House Apr 28, 2025

HB 1201: Revenue and taxation; credit; pregnancy resource centers; effective date.

HB 1201 creates a 70% tax credit for Oklahoma taxpayers who donate to certified pregnancy resource centers, capping the credit at $50,000 per donor annually. To qualify, centers must provide free, non-abortion services (like prenatal care and counseling) without performing or referring for abortions, and must be certified by the state health director. The total annual tax credits for all donors are capped at $5 million, with annual adjustments to prevent exceeding this limit. The credit applies to donations of $100 or more and takes effect January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 70% tax credit for donations to pregnancy centers, reducing taxpayer liability while capping total annual credits at $5M, aligning with tax relief and fiscal responsibility.95% confidence ✓ HealthcareSupports HealthcareCreates tax credit for donations to centers providing prenatal care and counseling (non-abortion healthcare services), directing funds toward specific health services.85% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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passed · Oklahoma · House Apr 24, 2025

HB 2590: Public finance; Office of Management and Enterprise Services; requiring certain form for use in contracts related to management of federal funds; content; effective date.

HB 2590 requires Oklahoma's Office of Management and Enterprise Services to create a standardized form for state agencies evaluating vendors managing federal funds. This form must include specific vendor details like legal name, incorporation jurisdiction, principal officers' names, prior federal fund management experience, recent financial audits, and pending lawsuits. It directly affects state agencies contracting with external vendors for federal fund management. The bill mandates this form be used starting July 1, 2025, to standardize vendor vetting processes.

Topics ✓ Budget & TaxesSupports Budget & TaxesMandates vendor vetting for federal fund management, promoting fiscal accountability and responsible oversight per Budget & Taxes topic description.85% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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passed · Oklahoma · House Apr 23, 2025

HB 1220: Cities and towns; prohibiting imposition of certain taxes and fees on certain bond revenue; municipal taxation; conforming language; emergency.

HB 1220 prohibits Oklahoma cities and towns from imposing franchise fees or sales/use taxes on specific revenue streams used by utilities to repay private financing. It directly affects electric cooperatives and other utilities that used private financing under the February 2021 Utility Consumer Protection Acts to avoid immediate cost burdens on customers. The bill defines "securitization revenue streams" as rates and charges solely for repaying such private loans, and bans local taxes on these streams for bonds issued by the Oklahoma Development Finance Authority under those acts. This prevents municipalities from taxing revenue dedicated to repaying utility loans structured to protect consumers from upfront costs.

Topics ✗ Budget & TaxesOpposes Budget & TaxesProhibits local taxes on utility repayment revenue, restricting municipal tax authority on specific revenue streams per bill language.90% confidence ✓ EnergySupports EnergyPrevents local taxes on utility repayment funds, protecting consumers from cost increases under the 2021 Utility Consumer Protection Acts.85% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

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