Budget & Taxes (Income Tax)

in committee · Oklahoma · House Feb 3, 2026

HB 4480: Revenue and taxation; income tax; deduction; potable water; natural gas; electricity; effective date.

HB 4480 amends Oklahoma's income tax code to allow a deduction for certain taxpayers who pay for natural gas, electricity, or potable water services. This deduction directly affects individual and business taxpayers who incur these utility expenses. The bill adjusts Oklahoma taxable income calculations to include this specific deduction, aligning with existing tax code provisions. It does not create new tax rates or broadly alter tax structures, but modifies how certain utility payments are treated in taxable income calculations. The bill is currently in committee referral after its initial readings.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides targeted tax deduction for utility payments, reducing taxable income for affected taxpayers, aligning with tax relief indicators for middle/lower income.95% confidence

Sub-Topics Income Tax

Track

signed · Oklahoma · House May 11, 2026

HB 2988: Environment and natural resources; Terry Peach North Canadian Watershed Restoration Act; pilot program; definitions; fund; effective date.

HB 2988 creates an income tax credit for Oklahoma landowners who implement specific conservation practices, including removing harmful woody species, improving soil health, or enhancing water efficiency on agricultural land. It directly affects farmers and ranchers who actively practice these conservation methods on their property, allowing them to claim credits of $5-$500 per acre (up to $150,000-$200,000 annually) based on the number of qualifying practices used. The Oklahoma Conservation Commission issues tax credit certificates verifying eligibility, while the program limits annual credits to $3 million total and requires applicants to not have received full cost coverage from other sources. The credit applies to income tax returns for 2027-2030, with certificates processed in order of submission until the $3 million cap is reached.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates income tax credit for landowners implementing conservation practices, providing targeted tax relief and directly engaging with tax policy as a fiscal management tool.95% confidence ✓ EnvironmentSupports EnvironmentProvides tax credits for conservation practices (removing harmful species, soil/water improvement), incentivizing environmental protection on agricultural land.95% confidence

Sub-Topics Income Tax Tax Credits Conservation Water Quality

in committee · Oklahoma · Senate Feb 3, 2026

SB 1838: Specie; authorizing the payment of certain debts; authorizing income tax deduction for gains derived from the sale of specie. Effective date.

SB 1838 (Oklahoma Senate Bill 1838) makes U.S. gold and silver coins legal tender for public debts and allows silver bullion (at .999 purity) to be used for private debts, while prohibiting mandatory acceptance. It exempts gold/silver transactions from state taxes, excludes such assets from personal property taxation, and requires the State Treasurer to store 10% of state funds in gold/silver and accept them for property taxes. The bill also adds a tax deduction for capital gains from selling precious metals. These changes directly affect Oklahoma taxpayers, state finances, and businesses dealing in gold/silver.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts gold/silver transactions from state taxes, excludes assets from personal property tax, and provides capital gains tax deduction, directly reducing tax burdens for specified transactions.95% confidence

Sub-Topics Income Tax

Track

in committee · Oklahoma · House Feb 3, 2026

HB 3823: State government; creating the Oklahoma Employee Benefits Expansion Act of 2026; providing for noncodification; and providing an effective date.

HB 3823 requires private employers in Oklahoma to provide employees with up to 90 days of unpaid leave for organ or bone marrow donation, upon written request. It directly affects private employers (excluding government entities, schools, and public agencies) and their employees who are organ or bone marrow donors. The bill also allows employers who pay employees during this leave to claim a 25% credit against their Oklahoma income tax liability, limited to the first 90 days. This law does not apply to employees already covered by federal Family Medical Leave Act protections and takes effect November 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 25% tax credit to employers for paid leave, reducing tax liability, directly supporting tax policy85% confidence ✓ Labor & EmploymentSupports Labor & EmploymentMandates unpaid leave for organ donation, expanding employee benefits under workplace standards.90% confidence

Sub-Topics Income Tax Paid Leave

Track

signed · Oklahoma · Senate May 7, 2026

SB 1405: Tax refund donation; reauthorizing checkoff for Wildlife Diversity Fund. Effective date.

SB 1405 reauthorizes a voluntary tax checkoff on Oklahoma state income tax returns, allowing taxpayers to donate a portion of their refund to the Wildlife Diversity Fund. The fund, managed by the Oklahoma Wildlife Conservation Commission, supports conservation efforts for nongame wildlife (species not classified as game or furbearer). Taxpayers who donate by mistake can request a refund within three years, and the reauthorized checkoff takes effect January 1, 2027. This bill updates statutory language to maintain the existing donation mechanism without altering its core purpose.

Topics ✓ Budget & TaxesSupports Budget & TaxesVoluntary tax checkoff redirects refunds to fund conservation, supporting fiscal management of public programs.95% confidence ✓ EnvironmentSupports EnvironmentReauthorizes tax checkoff funding Wildlife Diversity Fund for nongame wildlife conservation, directly advancing environmental protection through dedicated conservation funding.92% confidence

Sub-Topics Income Tax Conservation Wildlife

died · Oklahoma · House Feb 7, 2025

HB 1359: Revenue and taxation; income tax credit; legally married couple; child; effective date.

HB 1359 creates a state income tax credit for legally married couples in Oklahoma with eligible dependent children. The credit amount depends on how long the couple has been continuously married: $500 for 1-5 years, $1,000 for 5-10 years, $1,500 for 11-15 years, and $2,000 for 16+ years of marriage, per child. The credit is capped at $10,000 per household annually, requires pre-application with the Oklahoma Tax Commission, and cannot reduce tax liability below zero. It directly affects married couples with children under 19 who reside with them and meet the marriage duration requirements.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax relief via income tax credits for married couples with children, directly reducing tax liability for eligible households under Oklahoma's tax code.92% confidence

Sub-Topics Income Tax Tax Credits

Track

vetoed · Oklahoma · House May 29, 2025

HB 2374: Revenue and taxation; Filmed in Oklahoma Act of 2021; procedures for withholding tax; income tax treatment; set aside amount for economic impact reviews; effective date; emergency.

HB 2374 creates a film production rebate program in Oklahoma for productions meeting specific filming requirements. It provides rebates to eligible film and television productions that film at least 75% of a season or pilot within the state, based on qualifying local spending like wages for Oklahoma residents or crew. The program, administered by the Oklahoma Department of Commerce and Tax Commission, requires applicants to verify payments to local crew, vendors, and tax compliance. Productions must submit annual reports detailing rebate payments to legislative committees. The bill directly affects film studios, production companies, and local crew members who qualify under its spending and filming criteria.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax rebates for film productions, providing tax relief to incentivize local economic activity and qualifying spending, directly impacting tax policy and budget allocation.90% confidence

Sub-Topics Income Tax

Track

in committee · Oklahoma · Senate Feb 4, 2025

SB 312: Income tax; modifying amount of personal exemption for certain tax years; modifying amount of standard deduction for certain taxpayers for certain tax years. Effective date.

SB 312 modifies Oklahoma's income tax structure by adjusting the personal exemption amount and standard deduction for specific taxpayers during certain tax years. It directly affects eligible individuals, including women claiming a certain number of dependents and taxpayers meeting age requirements, by providing additional tax relief through these adjusted exemptions. The bill updates existing tax code provisions to align with current tax year requirements without changing tax rates or creating new tax brackets. These changes aim to reduce the taxable income burden for qualifying residents during the specified tax years.

Topics ✓ Budget & TaxesSupports Budget & TaxesModifies personal exemptions/deductions to provide tax relief for targeted taxpayers (e.g., women with dependents, seniors), directly aligning with tax relief indicators for middle/lower income groups.90% confidence

Sub-Topics Income Tax

Track

in committee · Oklahoma · Senate Feb 9, 2026

SB 1392: Income tax credit; modifying credit amount for qualified employee in aerospace sector. Effective date.

SB 1392 modifies Oklahoma's income tax credit for qualified employees in the aerospace sector. It increases the annual credit from $5,000 (for tax years 2009-2026) to $10,000 (for tax years 2027-2031), allowing a maximum of $10,000 per year for up to five total years. Unused credits can be carried forward to future tax years, but the credit cannot reduce taxes below zero. The bill would take effect November 1, 2026, if passed.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases aerospace sector tax credit from $5k to $10k annually, providing targeted tax relief and strengthening sector-specific tax incentives.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentIncreases tax credit for aerospace employees, expanding financial benefits and effectively raising disposable income for workers in a specific sector.85% confidence

Sub-Topics Income Tax Tax Credits

Track

died · Oklahoma · House Feb 10, 2025

HB 1395: Schools; Oklahoma Parental Choice Tax Credit Act; website requirements; effective date.

HB 1395 creates a tax credit program for Oklahoma parents or guardians paying eligible education costs for students. It allows taxpayers to claim credits of up to $7,500 annually (based on family income) for private school tuition, academic tutoring, textbooks, and standardized test fees for students attending accredited private schools or alternative education programs. The credit amount decreases as household income rises, with special provisions for schools serving homeless students or financially disadvantaged students (requiring 90% of enrollment to qualify based on income thresholds). This bill directly affects Oklahoma families choosing private education or alternative learning options, reducing their state income tax liability for qualifying education expenses.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief via credits for education expenses, decreasing tax burden for lower/middle income families per bill's income-based credit structure.90% confidence ✓ EducationSupports EducationProvides tax credits for private school expenses, expanding parental educational choice and access for K-12 students.95% confidence

Sub-Topics Income Tax Tax Credits Higher Education School Choice Testing & Assessment

Track