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.
HB 2212 establishes Oklahoma's Registered Apprenticeship Program (ORAP), allowing apprentices in federally recognized programs to take general education courses at public community colleges toward an associate degree. It authorizes an income tax credit for employers who hire apprentices and requires the Oklahoma Workforce Commission to collect workforce data to track program outcomes. The bill sets eligibility for apprentices (including journeyworkers with federal certificates) and mandates completion of 15 credit hours within six years. This directly affects apprentices, community colleges, and employers participating in registered apprenticeships statewide.
HB 1092 creates a $7,500 annual tax credit for Oklahoma residents who complete qualifying trade or vocational programs (such as HVAC, plumbing, or welding training) at approved Oklahoma schools. The credit, available for taxable years starting January 1, 2026, offsets income tax liability up to the actual tuition cost paid (whichever is lower), but cannot reduce tax below zero. Unused portions may carry forward for up to three years, and the credit can only be claimed once per individual after receiving program certification. This policy directly supports Oklahoma residents pursuing in-demand technical careers by reducing the cost of vocational education.
SB 106 creates a 30% tax credit for Oklahoma employers who pay down employees' student loan debt, effective for tax years starting in 2026. The credit directly affects employers (not employees) and cannot reduce tax liability below zero, but unused portions can be carried forward for up to 10 years. Employers must claim the credit using forms and documentation specified by the Oklahoma Tax Commission. The bill takes effect November 1, 2025.
HB 1469 creates an income tax credit program for Oklahoma taxpayers covering qualified education expenses for eligible students. It directly affects parents, guardians, or legal custodians who pay for private school tuition or approved educational services (like tutoring, materials, or assessments) for children in Oklahoma. The credit amount varies by family income (ranging from $5,000 to $7,500 annually) and includes special provisions for schools serving homeless students or financially disadvantaged students (90% of enrollment below 250% of federal poverty level). The bill requires taxpayers to submit receipts to the Oklahoma Tax Commission and limits credits to expenses not covered by scholarships or discounts.
HB 1267 adjusts Oklahoma's individual income tax rates for tax years beginning in 2024. It lowers the top marginal tax rate from 5.50% to 4.75% for most taxpayers (single filers and married couples filing jointly), creating new tax brackets starting at 0.25% for lower income levels. The bill eliminates deductions for federal income taxes when calculating Oklahoma taxable income. These changes affect all Oklahoma residents and nonresidents filing state income tax returns for 2024 and subsequent years, with the top rate reduction contingent on a State Board of Equalization determination.
HB 1788 amends Oklahoma's individual income tax rates for taxable years beginning in 2024 and ending in 2025. It lowers tax brackets across the board, reducing the top marginal rate from 5.5% to 4.75% for single filers and married couples filing jointly. The bill also eliminates the deduction for federal income taxes paid when calculating taxable income. These changes directly affect all Oklahoma individual taxpayers filing state income tax returns during the 2024-2025 tax years.
SB 296 expands Oklahoma's existing income tax credit program to include instructor pilots working for aerospace employers. It defines "instructor pilot" as FAA-licensed flight instructors employed in Oklahoma under federal government contracts, who were not previously working in the aerospace sector. Employers can claim a tax credit equal to 5-10% of an instructor pilot's compensation (depending on where they earned their degree), capped at $12,500 annually for up to five years. This affects aerospace employers hiring qualifying instructor pilots and provides a direct tax benefit to those employers, not the pilots themselves.
HB 2366 creates a $5,000 annual income tax credit for qualified employees working in Oklahoma's biomanufacturing sector, available for up to five years total per employee. It directly affects new employees (not previously working in the sector) who hold relevant engineering degrees from ABET-accredited programs or hold a Professional Engineer license. The credit applies to taxable years beginning after December 31, 2025, and cannot reduce tax liability below zero, with unused credits carryable to subsequent years. Employers must be "qualified" (engaged in biomanufacturing), and employees must meet specific education or licensing criteria to qualify.
SB 826 creates Oklahoma income tax credits for donations to specific charitable organizations. Taxpayers can claim a credit of up to $400 (single/head of household) or $800 (married filing jointly) for contributions to organizations serving low-income households, people with chronic illnesses/disabilities, or up to $500/$1,000 for foster care-focused organizations. Credits cannot reduce tax liability below zero, must be claimed on a state form, and cannot be used if federal deductions for the same donations are claimed. Organizations must provide written certification to the Tax Commission verifying they meet eligibility requirements, including spending at least 50% of their budget on qualifying services. The credit is non-refundable but can be carried forward for up to five years if unused in a tax year.
