This Oklahoma bill creates a tax credit program to encourage converting old, vacant buildings into housing. Property owners can claim up to 50% of qualified costs (like environmental cleanup, code upgrades, or system repairs) for adaptive reuse projects on structures at least 30 years old that have been vacant or underutilized (with rent below 50% of market rate). The program has a $5 million annual cap on approved credits, with unused funds carried forward to future years. Credits cannot reduce tax liability below zero but may be carried forward for up to 10 years. The Oklahoma Department of Commerce and Tax Commission will administer the program and prioritize projects based on local housing needs.
SB 817 requires local governments and trusts issuing bonds for their benefit to publicly disclose specific details about bond projects, previous bond usage, and unfinished bonds at least 30 days before a bond vote. This applies to counties, cities, school districts, and other local entities covered under Oklahoma's bond laws. The bill mandates that this information be posted on the government's website or made accessible online, including physical addresses for property purchases. Non-compliant entities are prohibited from issuing new bonds until they meet these transparency requirements.
SB 223 allows Oklahoma taxpayers to claim a state income tax credit for stillborn children. Specifically, it authorizes a credit equal to 5% of the federal child tax credit (as defined under the Internal Revenue Code) for each stillbirth resulting in a birth certificate issued under Oklahoma law. This credit must be claimed in the tax year the stillbirth occurs, and it applies only if the child would have been a household member. The Oklahoma Tax Commission may establish rules to implement this provision.
SB 678 creates a state fund to reimburse Oklahoma counties for lost property tax revenue when centrally assessed properties (like oil/gas facilities) decrease in value. Counties qualify if they lose at least $250,000 in annual tax collections from these properties, receiving 25% of the loss for the first two years after the valuation drop. Reimbursement funds prioritize school districts first, with remaining funds going to counties. The bill appropriates $2 million from the General Revenue Fund to start the fund, effective July 2025.
SB 554 would require Oklahoma school districts to provide stipends (one-time payments) instead of regular salary increases to teachers holding specific certifications, such as out-of-state, international, or National Board for Professional Teaching Standards credentials. The bill prohibits these stipends from being counted toward future salary calculations or raises. It amends existing teacher certification laws to clarify that compensation for these certified teachers must follow this stipend structure rather than standard salary progression. This change directly affects teachers with the specified certifications who currently qualify for salary-based increases under Oklahoma law.
SB 367 modifies Oklahoma's earned income tax credit (EITC) calculation for tax years 2022 through 2025. It sets the state credit at 5% of the federal EITC amount and requires that the maximum credit be prorated based on how much a taxpayer's Oklahoma-adjusted gross income compares to their federal adjusted gross income. This change directly affects low-to-moderate income Oklahoma residents who claim the state EITC on their tax returns. The bill takes effect November 1, 2025.
SB 108 would remove a restriction preventing Oklahoma taxpayers from deducting gambling losses against their taxable income for certain tax years. This change directly affects individual taxpayers who have wagering losses in qualifying tax years, allowing them to deduct these losses as itemized deductions. The bill amends Oklahoma's tax code (68 O.S. § 2358) to eliminate the existing limitation on such deductions. It does not change other tax provisions or create new requirements.
SB 72 updates Oklahoma's Sales Tax Relief Act to adjust income thresholds and refund amounts for low-income residents filing for sales tax refunds. For 2025 and beyond, single filers without dependents or special circumstances may claim up to $200 annually if their household income is under $35,000 (or $100 under $40,000). Individuals with dependents, disabilities, or who are 65+ may claim up to $200 under $45,000 (or $150 under $50,000). The bill directly affects Oklahoma residents meeting these income criteria who file annual sales tax relief claims.
SB 239 modifies Oklahoma's tax credit for electricity generated by zero-emission facilities (like wind, solar, hydro, or geothermal power plants). It limits the credit to tax years ending by 2025, ending the ability to carry forward unused credits beyond that year. For credits claimed after July 2019, taxpayers must choose between receiving an 85% direct refund or carrying the credit forward for up to 10 years (ending in 2025). This bill directly affects businesses and entities generating eligible renewable electricity in Oklahoma, altering how they can use or access these tax credits.
SB 472, titled "Oklahoma Parental Choice Tax Credit Act; expanding scope of scholarships while participating in the program," was withdrawn from committee on February 19, 2025, and is no longer active. The bill's original intent, as reflected in its title, was to expand tax credit eligibility for education scholarships under Oklahoma's parental choice program. However, with the title stricken and the bill withdrawn, no legislative action or policy changes were enacted. This procedural withdrawal means the proposed expansion of scholarship access did not advance.
