Budget & Taxes

in committee · Oklahoma · Senate Mar 3, 2025

SB 108: Income tax; eliminating limitation on itemization of wagering losses for certain tax years. Effective date.

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.

Topics ✓ Budget & TaxesSupports Budget & TaxesRemoves restriction on deducting gambling losses, providing tax relief for qualifying taxpayers under Oklahoma's tax code.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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died · Oklahoma · Senate Mar 3, 2025

SB 72: Sales Tax Relief Act; modifying authorized claim amounts for certain years. Effective date.

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.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides direct sales tax refunds to low-income residents, reducing their tax burden through adjusted income thresholds for qualifying groups.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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died · Oklahoma · Senate Mar 3, 2025

SB 239: Income tax; limiting credit allowance for zero-emission facilities to certain tax years; limiting carry forward of credit. Effective date.

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.

Topics ✗ Budget & TaxesOpposes Budget & TaxesLimits tax credit carry-forward beyond 2025, restricting tax benefits for businesses generating zero-emission energy.90% confidence ✗ EnergyOpposes EnergyBill limits tax credit carry-forward for zero-emission facilities beyond 2025, restricting long-term incentives for renewable energy projects.92% confidence ✗ EnvironmentOpposes EnvironmentLimits tax credit duration for clean energy facilities, ending carry-forwards after 2025, weakening long-term incentives for zero-emission power generation.95% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

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in committee · Oklahoma · Senate Feb 25, 2025

SB 119: Economic development; creating investment rebate program for certain qualified expenditures; making appropriation. Effective date. Emergency.

SB 119 creates an investment rebate program for Oklahoma businesses making significant capital investments in specific energy sectors. It directly affects companies refining/manufacturing hydrogen (blue/green), generating emission-free power, or producing cleaner fuels, requiring them to commit to at least $750 million in qualified capital expenditures with $150 million already spent. Eligible businesses receive rebates equal to 6.67% of qualifying investments, paid from the newly created Commerce Energy Manufacturing Activity Development Fund, which is initially funded with $50 million. The program expires on July 1, 2031, with unspent funds transferring to the General Revenue Fund.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax rebates (6.67%) for qualifying business investments, funded via state appropriation, aligning with tax relief support for economic development.90% confidence ✓ EnergySupports EnergyCreates rebates for clean energy investments in hydrogen, emission-free power, and cleaner fuels, directly advancing renewable infrastructure through financial incentives.95% confidence ✓ EnvironmentSupports EnvironmentBill incentivizes emission-free power, hydrogen, and cleaner fuels via rebates, directly advancing climate-friendly energy development and reducing pollution.92% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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in committee · Oklahoma · Senate Feb 24, 2025

SB 231: Sales tax; expanding items eligible for the August sales tax holiday. Effective date.

SB 231 expands Oklahoma's August sales tax holiday to include additional school-related items. It adds school art supplies, school instructional materials (like reference books), and school computer supplies to the list of exempt items, alongside existing clothing, footwear, and sports equipment. The exemption applies to purchases under $100 during the three-day holiday period (first Friday in August to Sunday following). This directly affects students, parents, and schools purchasing these specific educational items during the tax-free window. The bill does not change the existing tax holiday dates or price threshold.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands sales tax holiday for school supplies, providing temporary tax relief for families purchasing essential items, aligning with tax relief for middle/lower income.95% confidence ✓ EducationSupports EducationExpands sales tax exemption for school supplies (art, instructional materials, computers), reducing costs for families/schools purchasing educational resources, directly enhancing access to necessary materials.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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in committee · Oklahoma · Senate Feb 20, 2025

SB 1124: Sinking funds; requiring levy sufficient for timely redemption; prohibiting issuance for certain period if redeemed below par. Effective date.

SB 1124 requires Oklahoma school districts (excluding technology centers) to set property tax levies high enough to fully redeem bonds and pay interest within the originally proposed timeframe. If a bond is redeemed early at a discount (below par), the district must reduce its tax levy to zero for one full tax year and cannot issue new bonds for the same purpose for one year. The State Auditor enforces these rules, and non-compliant districts must transfer 10% of state aid to an education fund, or face limits on future bond issuance. The bill takes effect November 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill enforces fiscal responsibility by mandating sufficient tax levies for bond redemption, penalizing underfunding through levy reductions and bond issuance bans, aligning with promoting fiscal management.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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in committee · Oklahoma · Senate Feb 20, 2025

SB 474: Sales tax; permit requirement; sale for resale tax exemption. Effective date.

SB 474 requires businesses that buy goods to resell (like wholesalers) to obtain a free permit from the Oklahoma Tax Commission to claim sales tax exemption on those purchases. Vendors must honor valid permits, and claiming exemption without one is a misdemeanor punishable by up to $1,000. Permits expire June 30 annually and can be verified electronically by sellers through a system developed by the Tax Commission. This replaces the previous system where businesses could self-claim the exemption without verification. The bill takes effect June 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesCloses sales tax exemption loophole by requiring permits, ensuring proper tax collection and fiscal responsibility per bill's replacement of self-claim system.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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in committee · Oklahoma · Senate Feb 20, 2025

SB 38: Sales and use tax apportionment; modifying apportionment for Oklahoma Historical Society. Effective date. Emergency.

SB 38 modifies Oklahoma's sales tax revenue allocation to provide a fixed annual amount for the Oklahoma Historical Society. It specifies that starting in fiscal year 2026, 0.06% of sales tax revenue will be directed to the Historical Society's Capital Improvement and Operations Revolving Fund, capped at $1,880,553.25 annually. This change directly affects the Historical Society's funding, replacing the previous cap based on 2015 apportionment amounts. The bill does not alter other tax revenue allocations for education, tourism, or general funds.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates 0.06% of sales tax revenue (capped at $1.88M) to Oklahoma Historical Society, providing dedicated funding for its operations. This is a direct budgetary appropriation supporting state program funding.90% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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in committee · Oklahoma · Senate Feb 11, 2025

SB 294: State fiscal affairs; the Oklahoma Quick Action Closing Fund; excluding certain industry from eligibility to receive funds. Effective date.

SB 294 amends Oklahoma's Oklahoma Quick Action Closing Fund to exclude electric vehicle manufacturing businesses (specifically those using NAICS code 336110) from eligibility for funding. This bill directly affects companies in the electric vehicle manufacturing industry, preventing them from receiving economic development funds intended for high-impact business projects. The change modifies existing eligibility rules under the fund's statutes without altering other provisions for qualifying industries or the fund's administration. The exclusion applies to all applications for the fund, including those seeking rebates under the Oklahoma Film Enhancement Rebate Program. The bill does not change the fund's purpose, which remains supporting job creation, capital investment, and economic development through targeted business incentives.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExcludes EV manufacturers from economic development fund, restricting government spending eligibility for specific industry95% confidence ✗ EnergyOpposes EnergyExcludes EV manufacturing (NAICS 336110) from economic development funds, directly restricting renewable energy infrastructure investment.95% confidence ✗ EnvironmentOpposes EnvironmentExcludes EV manufacturers (NAICS 336110) from economic development funds, hindering clean energy industry growth and contradicting environmental progress indicators.85% confidence ✗ TechnologyOpposes TechnologyExcludes electric vehicle manufacturing (tech industry) from economic development funds, directly restricting financial support for a technology sector.95% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

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in committee · Oklahoma · Senate Feb 10, 2025

SB 736: Income tax; creating the Health Care Sharing Ministry Tax Parity Act; stating certain deduction and procedures; requiring Oklahoma Tax Commission to create forms and guidelines. Effective date.

SB 736 creates the "Health Care Sharing Ministry Tax Parity Act," allowing Oklahoma residents who are active members of qualifying health care sharing ministries (HCSMs) to deduct their contributions from their state income tax starting in 2026. It directly affects Oklahoma residents who have been active HCSM members for at least one month during the tax year, treating their contributions like health insurance premiums for tax purposes. The bill requires the Oklahoma Tax Commission to develop forms for claiming the deduction, prohibits taxing reimbursements from HCSMs, and mandates annual reporting on the program's impact.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax deduction for HCSM contributions, reducing taxable income for qualifying residents - provides tax relief per SUPPORT indicators.90% confidence ✓ HealthcareSupports HealthcareAllows tax deductions for health care sharing ministry contributions, treating them like insurance premiums to expand coverage options for residents.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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