Budget & Taxes (Tax Credits)

died · Oklahoma · House Feb 7, 2025

HB 1477: Revenue and taxation; income tax credit; qualified property; refundable tax credit; effective date.

HB 1477 creates a $2,000 refundable income tax credit for Oklahoma homeowners who own a qualifying single-family home (under 1,501 sq ft, built at least 50 years ago in an established neighborhood) for 4-8 years. To qualify, homeowners must have held the homestead exemption for the previous three tax years. The credit is fully refundable, meaning eligible taxpayers receive the full $2,000 as a cash refund directly from the state, even if they owe no income tax. This policy directly affects qualifying homeowners in established older neighborhoods, providing a direct financial benefit tied to long-term property ownership. The credit applies to tax years beginning January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates $2,000 refundable tax credit for qualifying homeowners, providing direct tax relief to middle-income residents through cash refunds.95% confidence

Sub-Topics Income Tax Property Tax Tax Credits

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died · Oklahoma · House Feb 14, 2025

HB 2094: Revenue and taxation; Oklahoma Revenue and Taxation Act of 2025; effective date.

HB 2094 creates a $250 tax credit for eligible small businesses in Oklahoma that use western redcedar trees as part of their storefront construction or design. The credit applies to taxable years beginning January 1, 2026, and is available to businesses defined as "small" under Oklahoma law (Title 75, Section 502). The credit cannot reduce a business's income tax liability below zero. This bill directly affects small businesses constructing or redesigning storefronts with western redcedar material, offering a limited tax incentive for this specific building practice.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides $250 tax credit to small businesses for using western redcedar, reducing tax burden and supporting local business investment under Oklahoma tax policy.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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in committee · Oklahoma · House Feb 4, 2025

HB 2839: Revenue and taxation; County Road and Bridge Funding Incentive Act of 2025; income tax credit; donations; counties; carryover; effective date.

HB 2839, the "County Road and Bridge Funding Incentive Act of 2025," provides Oklahoma individual taxpayers with income tax credits for donating to county road and bridge funds. The credit percentage varies by county population: 100% for counties under 25,000 residents, 75% for 25,000-50,000, 50% for 50,000-75,000, and 25% for 75,000-100,000 residents. Credits can be carried over for up to five years but are capped at $25 million annually, with adjustments based on prior-year usage. Donations must fund repairs to existing roads/bridges (not new equipment) and are limited to individual donors, not businesses or other entities.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides income tax credits for road/bridge donations, reducing taxpayer burden while directing funds toward infrastructure maintenance, aligning with tax relief and public service funding indicators.92% confidence ✓ TransportationSupports TransportationProvides tax credits for donations to county road/bridge funds, directly funding transportation infrastructure maintenance and improvement.95% confidence

Sub-Topics Income Tax Tax Credits Tax Incentives Bridges Roads & Highways Transportation Funding

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in committee · Oklahoma · Senate Feb 4, 2025

SB 204: Income tax; providing credit for marriage. Effective date.

SB 204 provides Oklahoma income tax credits for married individuals based on the length of their marriage, directly affecting taxpayers filing jointly or separately. The credit amounts range from $500 (for 1-5 years married) to $2,000 (for 16+ years married) for joint filers, with half that amount for separate filers. To claim the credit, taxpayers must submit a form with marriage license details and attest under penalty of perjury that their marriage was continuous through the tax year. The credit cannot reduce tax liability below zero, is nontransferable, and any unused portion can be carried forward for up to five years. The bill takes effect November 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides marriage-based income tax credits ($500-$2,000), directly reducing taxable income for married taxpayers, aligning with tax relief indicators for budget & taxes.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · House Feb 4, 2025

HB 2840: Revenue and taxation; income tax credit; National Guard; home station; effective date.

HB 2840 creates a $1,500 annual income tax credit for Oklahoma National Guard members who live more than 50 miles from their assigned home station. The credit applies to taxable years beginning January 1, 2026, and cannot reduce tax liability below zero. Unused portions of the credit may be carried forward for up to five subsequent years. The bill takes effect November 1, 2025, directly benefiting eligible National Guard members by reducing their state income tax burden.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing state income tax for National Guard members, aligning with tax relief indicators for targeted groups.95% confidence ✓ VeteransSupports VeteransBill provides $1,500 annual tax credit for National Guard members (a military group central to veterans' support), reducing their tax burden and directly advancing financial benefits for service members.85% confidence

Sub-Topics Income Tax Tax Credits National Guard & Reserve

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in committee · Oklahoma · Senate Feb 4, 2025

SB 104: Income tax; providing credit for certain child care expenses and child care workers. Effective date.

SB 104 creates two new Oklahoma income tax credits to support child care. Employers can claim a 30% credit (up to $30,000 annually) for expenses covering employee child care at licensed facilities or for providing on-site care, while qualified child care workers (meeting specific employment, training, and education requirements) receive a $1,000 refundable credit. The employer credit is capped annually at $5 million for the state and can be carried forward if unused, with adjustments to prevent exceeding the limit. These credits apply to tax years 2026-2030, with the bill effective November 1, 2025. The bill directly affects employers providing child care benefits and licensed child care workers in Oklahoma.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates refundable tax credits for employers and child care workers, providing tax relief while supporting child care services through fiscal policy.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides $1,000 refundable credit to child care workers, directly supporting their income and job stability within the labor sector.85% confidence

Sub-Topics Income Tax Tax Credits

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signed · Oklahoma · House May 27, 2025

HB 2011: Tax credits; Fighting Chance for Firefighters Act; income tax credit for certain unreimbursed medical costs incurred by firefighters; limitation; effective date.

HB 2011, titled "Fighting Chance for Firefighters Act," actually expands health insurance benefits for firefighters rather than providing tax credits, as the title incorrectly states. The bill amends Oklahoma Statutes Section 1315 to explicitly include municipal fire departments (organized under 11 O.S. § 29-101) and county fire departments (under 19 O.S. § 351) in the Oklahoma Employees Insurance and Benefits Plans. This allows firefighters employed by these departments to access the same health insurance coverage available to state employees, including continuation of coverage after retirement or termination with eight years of service. The law, enacted without the Governor’s signature on May 27, 2025, directly affects firefighters in local fire departments by improving their access to health insurance benefits.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands state-funded health insurance benefits for firefighters, increasing public service spending under existing budget frameworks without tax changes.85% confidence ✓ HealthcareSupports HealthcareBill explicitly expands health insurance benefits for firefighters by including them in state employee health plans, advancing coverage access for public safety workers.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentExpands health insurance benefits for firefighters by including municipal/county departments in state employee benefits plan, strengthening workplace health protections.95% confidence

Sub-Topics Income Tax Tax Credits Insurance

in committee · Oklahoma · Senate Feb 4, 2025

SB 686: Oklahoma Parental Choice Tax Credit Act; applying authorized but unused credit to subsequent annual limitation. Effective date.

SB 686 amends Oklahoma's Parental Choice Tax Credit Act to allow taxpayers to carry forward unused portions of their annual credit amount to future tax years. This change specifically increases the annual credit limitation by the amount of certain unused credits from prior years, while removing the previous option to reallocate unused credits between different types of qualified education expenses. The bill affects Oklahoma taxpayers claiming the credit for eligible students' education costs, including private school tuition and related expenses, as defined under the existing program. It does not alter the credit amounts or income thresholds but changes how unused credit is handled administratively.

Topics ✓ Budget & TaxesSupports Budget & TaxesAmends tax credit to allow unused credits to carry forward, expanding tax relief for education expenses and increasing credit flexibility for taxpayers.95% confidence ✓ EducationSupports EducationBill enables taxpayers to carry forward unused education tax credits, increasing flexibility and access to funding for K-12 education expenses without restricting options.92% confidence

Sub-Topics Tax Credits Higher Education School Choice

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in committee · Oklahoma · Senate Feb 4, 2025

SB 342: Income tax; providing credit for certain miles commuted to workplace. Effective date.

SB 342 creates a refundable income tax credit for Oklahoma individual taxpayers who commute at least 2 miles each way (4 miles total daily) to a fixed workplace where they reside year-round. The credit amount is calculated by multiplying 240 (days) by the daily commute miles (max 40 miles) and the IRS standard mileage rate for that year. If the credit exceeds the taxpayer's income tax liability, the excess is refunded directly. This bill directly affects employees commuting regularly to a single workplace within Oklahoma, providing a concrete tax benefit based on actual commute distance.

Topics ✓ Budget & TaxesSupports Budget & TaxesRefundable tax credit reduces taxable income for commuters, providing direct tax relief to eligible taxpayers, aligning with support indicators for middle-income tax relief.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · Senate Feb 4, 2025

SB 627: Storm shelters; authorizing certain building standards and establishing certain tax credit. Effective date.

SB 627 requires new multiunit housing developments in Oklahoma (built on or after November 1, 2025) to include storm shelters meeting FEMA safety standards, such as in-ground or prefabricated shelters. It creates a tax credit covering 20-25% of costs for installing qualifying storm shelters in single-family homes, retrofitted multiunit housing, or new multiunit construction. Businesses claiming the credit are capped at $500,000 annually, while individuals may receive refunds for unused credits. The credit applies to tax years starting in 2026, with documentation requirements set by the Oklahoma Tax Commission.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit covering 20-25% of storm shelter costs, providing direct tax relief to homeowners/businesses, aligning with fiscal support indicators.85% confidence

Sub-Topics Tax Credits

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