HB 1452 imposes a state tax on owners of wind, solar, geothermal, and hydroelectric facilities in Oklahoma, equal to the federal production tax credit amount they could have claimed. The tax applies regardless of whether the facility owner actually used the federal credit. Government-owned facilities are exempt from this tax, while private owners must report and pay the tax monthly to the Oklahoma Tax Commission. All revenue collected flows into the state's General Revenue Fund.
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.
This Oklahoma constitutional amendment (SJR 15) proposes eliminating all property taxes by January 1, 2030, and replacing them with county-level consumption taxes on final goods and services sold within the county. It requires counties to develop voter-approved plans by 2028 to fund services (including schools) previously supported by property taxes, using a new Section 20A added to the state constitution. Counties must hold special elections for voter approval of any consumption tax levy or rate changes, with no tax exemptions allowed, and must revise proposals if rejected. The bill directly affects all Oklahoma counties, residents (through potential tax shifts), and school districts (which would rely on consumption tax revenue).
HB 2057 establishes a 7% tax on retail medical marijuana sales in Oklahoma, collected at the point of sale. Tax revenue is allocated annually starting July 2026: $65 million is divided between the State Public Common School Building Fund (59.23%), the Oklahoma Medical Marijuana Authority (34.62%), drug and alcohol rehabilitation programs (5%), and the Trauma Care Assistance Revolving Fund (1.15%). Any surplus tax collections go to the General Revenue Fund. The bill also requires medical marijuana businesses to pay taxes or face permanent license revocation.
HB 2407 creates a $2 million revolving fund in the Oklahoma State Treasury, managed by the Department of Commerce, to provide grants for qualifying Main Street programs. To receive funding, a Main Street must first be designated by Oklahoma's Main Street Program, maintain that designation, and submit annual proof of eligibility. The grant funds, appropriated from the General Revenue Fund for fiscal year 2026, may be used for operational costs but cannot be relied upon for ongoing operations. The bill requires reallocation of unclaimed funds if a recipient loses their Main Street designation, effective July 1, 2025.
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 241 appropriates $20 million from Oklahoma's General Revenue Fund to the Department of Commerce for rebates on capital investments in hydrogen-related manufacturing. It directly affects companies building facilities that refine, manufacture, or process hydrogen-based products within chemical manufacturing industries (NAICS codes 324 or 325). The key provision offers rebates for qualifying capital expenses, funded by the state's general revenue. The program becomes effective November 1, 2025.
HB 1733 modifies how Oklahoma allocates 0.87% of sales tax revenue (for fiscal years 2022-2025) to three tourism-related funds: the Oklahoma Tourism Promotion Revolving Fund (capped at $5 million annually), the Oklahoma Tourism Capital Improvement Revolving Fund (capped at $9 million), and the Oklahoma Route 66 Commission Revolving Fund (capped at $6.6 million). For fiscal years 2026 and beyond, it increases the allocation to 1% of sales tax revenue, with $6.6 million going directly to Route 66, and remaining funds split 36% to Tourism Promotion and 64% to Tourism Capital Improvement. The bill directly affects these state tourism funds, which support marketing, infrastructure, and historic preservation projects. It does not change overall tax rates but adjusts the distribution of existing sales tax revenue to these specific programs.
SB 196 appropriates $1.2 million from the state's General Revenue Fund to the Oklahoma Water Resources Board for infrastructure grants to rural water districts. The funds are intended to support water infrastructure projects in rural communities across Oklahoma. The bill declares an emergency to allow it to take effect immediately upon approval. This is a funding measure focused on direct financial support for rural water systems, with no other policy changes or provisions.
HB 1843 creates the "Community Quality of Life Enhancement Revolving Fund" to provide funding for local community projects. It is funded by a 0.25% increase in individual income tax revenue (capped at $250 million total), with eligible communities applying through locally formed boards to the Oklahoma Department of Commerce. Funds can be used for specific quality-of-life improvements like parks, infrastructure, public transportation, cultural centers, public art, and environmental projects. The bill takes effect July 1, 2025, and establishes the fund as a continuing state resource for these community priorities.
