Budget & Taxes

signed · Oklahoma · Senate May 12, 2025

SB 301: Income tax; modifying credit limit for certain institute in certain tax years. Effective date.

SB 301 modifies Oklahoma's tax credit system for donations to biomedical and cancer research institutes. It reduces annual credit limits to $1.5 million for biomedical research donations and $500,000 for cancer research donations starting in 2026, down from $2 million previously. Donors to qualifying institutes (which must receive $20 million annually in NIH funding for biomedical or $4 million for cancer research) will face new caps: $25,000 for business donors to biomedical institutes, and $1,000-$2,000 for individual filers depending on filing status. The bill adjusts how credit percentages are calculated using the second preceding year's claims and ensures credits cannot exceed tax liability.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill reduces tax credit limits for research donations, restricting tax incentives and increasing state revenue by limiting donor benefits.90% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

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

signed · Oklahoma · Senate May 7, 2025

SB 582: State fiscal affairs; modifying fiscal years requiring estimated revenue collections. Effective date.

SB 582 requires Oklahoma state agencies collecting revenue into the General or Special Revenue Funds to provide the Office of Management and Enterprise Services with detailed, itemized forecasts of expected collections for the current year and the next two fiscal years. It also mandates the Oklahoma Tax Commission to submit comprehensive economic reports - analyzing recent performance and forecasting national/state trends - to the Director of Management and Enterprise Services at least two weeks before State Board of Equalization meetings, including assessments of past forecast accuracy. These reports and revenue estimates must be shared simultaneously with key legislative committees. The bill takes effect November 1, 2025, and became law without the Governor's signature on May 7, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires detailed revenue forecasts and economic reports to improve fiscal planning transparency and accountability, strengthening budget management processes.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

signed · Oklahoma · Senate May 7, 2025

SB 249: Oklahoma Tourism Development Act; increasing cumulative inducement per year. Effective date.

This bill amends the Oklahoma Tourism Development Act to increase the cumulative inducement amount that can be provided annually for tourism promotion. It directly affects state agencies responsible for developing and marketing Oklahoma as a travel destination. The key provision allows for a higher annual budget allocation to incentivize tourism growth through financial incentives. The bill became law on May 7, 2025, without requiring the Governor's signature.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill increases state budget allocation for tourism promotion, directly funding government programs and economic development initiatives.85% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

signed · Oklahoma · House May 6, 2025

HB 1392: Counties and county officers; county treasurer fee; effective date.

HB 1392 increases the fee county treasurers charge for certifying mortgages from $5 to $10 per mortgage. This fee, paid by mortgage borrowers, lenders, or other interested parties, will be deposited into a dedicated "County Treasurer's Mortgage Certification Fee Account" and used solely for operating the treasurer's office. The bill modifies existing mortgage tax rates based on loan term length but focuses the main change on the certification fee increase. It becomes effective November 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases mortgage certification fee to fund county treasurer's office operations, providing dedicated revenue stream for government function.85% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

passed · Oklahoma · House Apr 28, 2025

HB 1243: Career and technology education; creating the National Guard CareerTech Assistance Act; tuition assistance; repayment amount; hardship waiver; creating fund; effective date; emergency.

HB 1243 creates the Oklahoma National Guard CareerTech Assistance Program, providing tuition assistance to eligible Oklahoma National Guard members enrolled in state technology center programs that lead to certification or licensure. The program covers tuition costs (up to a three-year limit) for members who agree to remain in service for 24 months after completing their training and maintain academic requirements like a 2.0 GPA. Members who fail to meet service or academic obligations must repay assistance calculated as a monthly amount based on the total assistance received, though hardship waivers are available. The program is funded through a new revolving fund in the state treasury, supported by annual state appropriations, and administered by the State Board of Career and Technology Education.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates dedicated state fund for tuition assistance, directly allocating budget resources to fund National Guard education programs without tax changes.95% confidence ✓ EducationSupports EducationCreates tuition assistance fund for National Guard members in career tech programs, expanding educational access and funding for vocational training.95% confidence ✓ TechnologySupports TechnologyProvides tuition assistance for National Guard members in technology certification programs, funding workforce development in technology fields.90% confidence ✓ VeteransSupports VeteransProvides tuition assistance for National Guard members' career training, directly supporting veterans' education and employment benefits through state-funded program.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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passed · Oklahoma · Senate Apr 15, 2025

SB 1114: Constitutional amendment; providing credit for owners of property that qualify for certain limitation on the growth of fair cash value.

SB 1114 creates a property tax credit for Oklahoma homeowners with qualifying homesteads who meet the existing "limitation on growth of fair cash value" under state law. The credit equals the difference between a homeowner's current year property tax and the prior year's tax, but only if the current tax is lower. County assessors must deduct this credit from the tax bill by October 1 annually, though the credit cannot reduce taxes below zero. The credit applies starting tax year 2026 and is codified in Oklahoma Statutes. It directly affects qualifying homestead property owners by potentially lowering their annual property tax burden.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax credit to qualifying homeowners, reducing their tax burden starting 2026 per bill language.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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passed · Oklahoma · Senate Apr 10, 2025

SB 820: Oklahoma Five Major Sports Leagues Rebate Program Act; expanding sports leagues eligible for incentives. Effective date.

SB 820 expands Oklahoma's sports league rebate program to include the WNBA, WPF, and NWSL, in addition to the existing NFL, NBA, NHL, and MLB. It allows qualifying professional sports teams (with specific payroll and employment thresholds) to receive quarterly rebates based on verified in-state payroll, capped at $10 million annually per team. The rebate requires teams to maintain operations in Oklahoma for eligibility and repay funds if they leave within three years. The bill is currently under review by the Appropriations and Budget Finance Subcommittee.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax rebates for sports leagues, directly impacting tax policy and state spending through a targeted incentive program.90% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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passed · Oklahoma · Senate Apr 8, 2025

SB 572: Oklahoma Center for the Advancement of Science and Technology; requiring the cessation of the technology business financing program; directing transfer of remaining funds. Effective date.

SB 572 ends Oklahoma's technology business financing program, which previously provided funding to help local businesses commercialize innovations. The bill requires all remaining program funds and annual royalty payments (from businesses that received funding) to be transferred to the state's General Revenue Fund by November 1, 2025. This affects OCAST (the Oklahoma Center for the Advancement of Science and Technology), businesses that had received program funding, and state finances. The program officially ceases upon the bill's effective date, redirecting all unused funds to general state revenue.

Topics ✗ Budget & TaxesOpposes Budget & TaxesDefunds OCAST program by transferring remaining funds to General Revenue Fund instead of program-specific use, ending targeted business innovation funding.92% confidence ✗ TechnologyOpposes TechnologyEnds tech business financing program, transferring funds to General Revenue Fund, defunding innovation support for technology businesses.95% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

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in committee · Oklahoma · Senate Mar 24, 2025

SB 234: Income tax credit; providing credit for certain qualified expenditures on adaptive reuse project. Effective date.

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.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates income tax credit for property owners, reducing tax liability to incentivize adaptive reuse projects, aligning with tax relief support for housing development.90% confidence ✓ EnvironmentSupports EnvironmentBill explicitly includes 'environmental cleanup' as a qualified cost for tax credits, directly advancing environmental protection through adaptive reuse projects.85% confidence ✓ HousingSupports HousingCreates tax credit for adaptive reuse of vacant buildings into housing with rent below 50% market rate, directly advancing affordable housing development.92% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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