Budget & Taxes (Tax Credits)

HB 1454 changes fees for businesses that send money electronically (wire transmitters) in Oklahoma. It sets a fee of $5-$10 per transaction under $500, plus 1-2% on amounts over $500, requiring quarterly payments to the Oklahoma Tax Commission. Revenue funds the Drug Money Laundering and Wire Transmitter Revolving Fund, and customers may claim a tax credit equal to the fee when filing income taxes. The bill takes effect November 1, 2025, and includes enforcement measures like license suspension for non-compliance.

SB 1398, the "Children's Promise Act," creates an income tax credit for Oklahoma taxpayers who donate to qualifying charities focused on child welfare. The credit equals 50% of the donation (capped at the taxpayer’s total income tax bill) for organizations meeting strict criteria, including being headquartered in Oklahoma, serving children in state custody, preventing abuse/abandonment, or promoting traditional family values. Charities must certify they do not provide, fund, or support abortion services and meet specific local impact requirements. Taxpayers claim the credit on their tax return, and unused credits can be carried forward for up to five years.

HB 2102 creates a 100% state tax credit for married Oklahoma taxpayers who pay for couples counseling services, defined as relationship-focused therapy provided by licensed therapists, doctors, or religious leaders. The credit applies to costs incurred for counseling during taxable years beginning January 1, 2026, and reduces income tax liability but cannot lower it below zero. This policy directly affects legally married individuals in Oklahoma who seek counseling services, offering a financial incentive for such expenses. The credit is limited to the amount of state income tax owed and takes effect on January 1, 2026.

HB 2410 increases Oklahoma's annual cap for affordable housing tax credits from $4 million to $10 million per year through December 2029, then reverts to $4 million annually after 2029. It directly affects developers of qualifying affordable housing projects and investors who claim tax credits for these projects. The bill ties Oklahoma's tax credits to federal low-income housing credits, limits credits to projects placed in service after July 2015, and requires eligibility statements from the Oklahoma Housing Finance Agency to claim credits. Credits cannot reduce tax liability below zero and must be claimed with tax returns, with unused credits carryable forward for two years.

HB 1332 creates a new income tax credit for Oklahoma-licensed emergency medical services (EMS) personnel. It provides tiered credits based on certification level: $100 for emergency medical responders (EMRs), $200 for emergency medical technicians (EMTs), $400 for advanced/intermediate EMTs (AEMTs), and $600 for paramedics. To qualify, workers must maintain active Oklahoma licensure and be verified as current employees by their ambulance service administrator through a new online system managed by the State Department of Health. The credit applies to tax years beginning January 1, 2025, and can be combined with other tax credits. This bill directly affects licensed EMS workers employed in Oklahoma ambulance services.