Budget & Taxes (Tax Incentives)

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 238: Sales tax; providing exemption on the sale of ammunition. Effective date.

SB 238 exempts the sale of ammunition from Oklahoma's state sales tax. This directly affects individuals and businesses purchasing ammunition within the state. The bill amends Oklahoma's sales tax code to add ammunition as a specific exempt item under existing tax exemption provisions. This change means ammunition sales will no longer be subject to the state's 4.5% sales tax.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExempting ammunition from 4.5% sales tax reduces state revenue, weakening tax collection. Directly removes a tax source, aligning with 'oppose' stance per tax reduction indicators.95% confidence

Sub-Topics Procurement Sales Tax Tax Incentives

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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

Sub-Topics Appropriations Revenue Tax Incentives

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in committee · Oklahoma · House Feb 4, 2025

HB 1972: Revenue and taxation; sales tax exemptions; income tax; disabled veterans; effective date.

HB 1972 would create a sales tax exemption for disabled veterans in Oklahoma purchasing tangible personal property (such as everyday items), expanding existing tax exemptions to include this group. It directly affects disabled veterans by eliminating sales tax on their purchases of goods like clothing, electronics, or furniture. The bill amends Oklahoma’s sales tax code (Section 1357) to add disabled veterans to the list of exempt categories, mirroring exemptions already provided to organizations like Meals on Wheels. This policy change lowers out-of-pocket costs for qualifying veterans without altering tax rates or creating new administrative requirements.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts disabled veterans from sales tax, providing targeted tax relief aligning with support indicators for lower-income groups.90% confidence ✓ VeteransSupports VeteransCreates sales tax exemption for disabled veterans on tangible goods, reducing financial burden and expanding existing benefits.95% confidence

Sub-Topics Income Tax Sales Tax Tax Incentives Veteran Education

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in committee · Oklahoma · House Feb 4, 2025

HB 1970: Revenue and taxation; Filmed in Oklahoma Act of 2021; incentive amounts; effective date; emergency.

HB 1970 amends Oklahoma's Filmed in Oklahoma Act to adjust tax incentives for film and television productions filmed in the state. It sets a base incentive of 30% of eligible production costs (excluding above-the-line personnel) and adds specific bonus incentives for qualifying projects, such as 3% for on-location filming in smaller counties, 5% for soundstage use, 2-5% for post-production in Oklahoma, and 2.5% for faith-based content. The bill limits total incentives to 30% of eligible costs and takes effect July 1, 2025. It directly affects film producers seeking tax benefits for Oklahoma-based productions.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill explicitly modifies tax incentives (30% base + bonuses) for film productions, directly addressing taxation policy within Budget & Taxes topic.90% confidence

Sub-Topics Tax Incentives

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in committee · Oklahoma · Senate Feb 4, 2025

SB 471: Economic Incentives; expanding requirements; defining term. Effective date.

SB 471 requires all new Oklahoma economic incentives for businesses (including tax credits, grants, loans, or payments) to include measurable goals like job creation or investment targets, and limits tax credit programs to a maximum of 10 years. It directly affects businesses receiving state economic incentives by mandating clear outcome tracking and time limits. The bill expands the definition of "incentive" to cover tax credits tied to specific jobs or industries, grants, and state payments. The law takes effect November 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires measurable outcomes for tax credits and limits duration, promoting fiscal accountability in state spending and preventing indefinite tax breaks.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Tags Economic Development

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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

Sub-Topics Income Tax Tax Credits Tax Incentives Affordable Housing Historic Preservation Renters

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died · Oklahoma · House Feb 17, 2025

HB 2366: Revenue and taxation; income tax credit; biomanufacturing; effective date.

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.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates targeted income tax credit for biomanufacturing employees, providing tax relief as a fiscal incentive, aligning with support indicators for tax relief programs.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides $5,000 annual income tax credit to biomanufacturing employees with specific qualifications, directly increasing disposable income and expanding targeted worker benefits.85% confidence ✓ TechnologySupports TechnologyBill creates tax credit for biomanufacturing sector employees, directly funding a technology industry (biotechnology) through financial incentives, aligning with 'fund' for technology growth.90% confidence

Sub-Topics Income Tax Tax Credits Tax Incentives

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in committee · Oklahoma · House Feb 10, 2025

HB 1198: Revenue and taxation; ad valorem; homestead exemption; definition; effective date.

HB 1198 adds a $1,000 property tax break for Oklahoma homeowners with household income under $30,000 annually. It directly affects low-income primary homeowners (defined as those maintaining a home and providing for household necessities) by exempting $1,000 of their property's assessed value from taxes. Homeowners must apply yearly by March 15 (or within 30 days of a valuation notice) and certify income, which includes most earnings like Social Security but excludes veterans' benefits and pandemic relief payments. Seniors aged 65+ who previously qualified do not need annual applications but must report income exceeding $30,000 to maintain the exemption.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides direct tax relief for low-income homeowners through a $1,000 property tax exemption, aligning with support indicators for lower-income tax relief.95% confidence ✓ HousingSupports HousingProvides $1,000 property tax break for low-income homeowners ($30k income cap), directly reducing housing costs and increasing affordability for primary residents.95% confidence

Sub-Topics Property Tax Tax Incentives Property Taxes

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