Budget & Taxes

in committee · Oklahoma · Senate Feb 3, 2026

SJR 28: Constitutional amendment; revenue neutral rate for ad valorem; millage adjustment.

This constitutional amendment (SJR 28) requires Oklahoma counties to calculate a "revenue neutral rate" each year - defined as the tax rate needed to generate the same revenue as the previous year based on current property valuations. Taxing jurisdictions (like cities or school districts) can only exceed this rate after holding a public hearing, providing detailed notices to taxpayers (including the proposed rate, budget needs, and previous rates), and obtaining a majority vote from their governing body. If jurisdictions fail to follow these steps, they must refund excess taxes collected. The bill also mandates that county assessors send taxpayers annual notices showing the revenue neutral rate, proposed changes, and how officials voted on tax rates. It takes effect January 1, 2028.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRequires revenue-neutral tax rates, restricting jurisdictional increases without public hearings/votes. Limits tax hikes rather than advancing funding or tax relief.92% confidence

Sub-Topics Property Tax

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in committee · Oklahoma · Senate Feb 3, 2026

SB 1997: Ad valorem tax; exempting certain property of business entity from ad valorem tax. Effective date.

SB 1997 exempts certain business-owned property from Oklahoma's ad valorem property taxes. It specifically applies to businesses operating rental housing (requiring 75% annual occupancy) or continuum of care retirement communities (licensed, nonprofit, and IRS 501(c)(3) qualified). Property owners must annually report occupancy rates to the county assessor to maintain the exemption. This bill directly affects businesses owning multi-family housing or senior living facilities that meet these specific criteria.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExempts business property from ad valorem taxes, reducing tax revenue and weakening state tax base without funding public services.95% confidence ✓ HousingSupports HousingExempts rental housing (75% occupancy) and senior housing from property taxes, reducing costs for operators which may support affordability and property maintenance.85% confidence

Sub-Topics Property Tax Property Taxes Renters

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in committee · Oklahoma · Senate Feb 3, 2026

SB 2015: Local Development Act; modifying amount of incentives or exemptions granted; requiring project plans to serve the public as a whole. Effective date.

SB 2015 modifies Oklahoma's Local Development Act to limit tax incentives for new development projects. It caps incentives at 50% of new investment, bans tax breaks for retail properties (except hotels and similar lodging), and requires all projects to include provisions benefiting the broader public, not just private entities. The bill also mandates annual reports detailing incentive recipients, project costs, public benefits, and financial disclosures to the Oklahoma Department of Commerce. These changes aim to ensure tax breaks serve community needs while preventing excessive or exclusive private benefits.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRestricts tax incentives by capping at 50% and banning retail breaks, requiring public benefits, thus limiting tax expenditures for private development.95% confidence

Sub-Topics Tax Incentives Tags Economic Development

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in committee · Oklahoma · Senate Feb 3, 2026

SJR 44: Constitutional amendment; increasing voter threshold for levy of tax and issuance of debt.

SJR 44 is a constitutional amendment requiring voter approval for property tax changes and debt issuance. It would raise the threshold from a simple majority to at least two-thirds of registered voters casting ballots for any new tax, tax increase, or debt issuance by counties, cities, or other local governments. The amendment affects all local taxing jurisdictions in Oklahoma by making it harder to pass tax or debt measures without broad public support. It applies to existing constitutional provisions governing property taxes (Sections 6B, 8, 9, etc.) and revenue bills, though it does not change current tax exemptions like manufacturing incentives. The measure must be approved by voters in an election to take effect.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRaises voter approval threshold for local tax/debt measures, restricting passage of new taxes and debt issuances without broad public support.95% confidence ✗ HousingOpposes HousingRaises voter threshold for property tax/debt measures, making it harder for local governments to fund housing initiatives through bonds or tax increases, thus limiting housing development funding.85% confidence

Sub-Topics Business Taxes Debt & Bonds Property Tax Property Taxes

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in committee · Oklahoma · House Feb 3, 2026

HB 4064: Revenue and taxation; Oklahoma taxable income and adjusted gross income; OSHA; consultation; effective date.

HB 4064 modifies Oklahoma's tax calculation rules for income tax purposes. It adjusts how state tax liability is calculated by adding state/local interest income not federally exempt, deducting amounts federal law prohibits taxing, and changing how businesses can carry forward net operating losses (e.g., limiting loss carrybacks to two years for certain tax years). These changes apply directly to Oklahoma taxpayers, including both individuals and corporations, when filing state income tax returns. The bill updates existing tax code provisions to align with federal rules and clarify income allocation methods.

Topics ✗ Budget & TaxesOpposes Budget & TaxesAdds taxable income (state/local interest) and restricts business loss carrybacks, increasing state tax revenue.95% confidence

Sub-Topics Income Tax

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in committee · Oklahoma · House Feb 3, 2026

HB 3426: Revenue and taxation; income tax credit; blood donation; effective date.

HB 3426 repeals a state income tax credit for blood donations in Oklahoma. It removes the provision that allowed taxpayers to claim a credit for donating blood, effective January 1, 2028. This change directly affects Oklahomans who previously claimed this credit on their state tax returns. The bill makes no new provisions or funding changes - only eliminates the existing tax benefit.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRepeals income tax credit for blood donations, eliminating a tax benefit which alignates with restricting tax relief under 'oppose' stance.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · House Mar 4, 2026

HB 3978: Revenue and taxation; Oklahoma Rural Jobs Act; tax credits; capital investments; effective date.

HB 3978 creates tax credits for Oklahoma investors who fund "rural funds" that invest in small businesses located in rural areas. It allows investors to claim up to $15 million in annual state tax credits against their liability, provided the rural fund invests at least 100% of the capital in eligible businesses within three years. Eligible businesses must have fewer than 250 employees and operate primarily (60%+ payroll) in counties under 75,000 population or towns under 7,000 residents. The bill defines specific rules for qualifying investments, including restrictions on refinancing prior investments and limits on total funding per business ($6.5 million or 20% of the fund's capital). The tax credit program applies to capital investments certified after the bill's effective date.

Topics ✗ Budget & TaxesOpposes Budget & TaxesProvides tax credits to wealthy investors for rural investments, reducing state revenue and aligning with 'tax breaks primarily for wealthy' oppose indicator.85% confidence

Sub-Topics Tax Credits Tax Incentives Tags Rural Communities

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in committee · Oklahoma · House Mar 5, 2026

HJR 1053: Oklahoma Constitution; ad valorem taxation; revenue neutral tax rates; procedures; ballot title; filing.

HJR 1053 proposes a constitutional amendment requiring Oklahoma local governments to calculate a "revenue neutral rate" for property taxes each year, which would generate the same revenue as the previous year based on current property valuations. If a county, city, or school district seeks to exceed this rate, it must hold a public hearing, provide detailed written notice to property taxpayers 10 days in advance (including comparisons to prior tax rates), and obtain a majority vote from its governing body. The bill mandates refunds to taxpayers if local governments fail to follow these procedures when levying taxes above the revenue neutral rate. It excludes taxing districts receiving under $5,000 annually in property tax revenue.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRequires revenue-neutral property tax rates, restricting local tax hikes without voter approval per bill's explicit language.95% confidence

Sub-Topics Property Tax Revenue

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failed · Oklahoma · Senate Apr 28, 2026

SJR 39: Constitutional amendment; ad valorem; reducing limitation on growth of fair cash value; modifying limitation on growth of fair cash value for homesteads of persons over sixty-five years of age.

Oklahoma's SJR 39 proposes a constitutional amendment to reduce limits on annual increases in property tax assessments. It would lower the maximum annual growth rate for most real property from 5% to 3% (for tax years 2027 onward) and further reduce limits for homestead properties (primary residences) and agricultural land from 3% to 1%. The amendment applies to locally assessed real property, excluding personal property and properties with recent transfers or improvements. If approved by voters, these changes would take effect for tax years beginning in 2027.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill reduces property tax assessment growth limits from 5% to 3% (3% to 1% for homesteads), restricting government revenue growth from property taxes.95% confidence

Sub-Topics Property Tax

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in committee · Oklahoma · House Feb 3, 2026

HJR 1068: Oklahoma Constitution; appropriations; adjustment; ballot title; filing.

HJR 1068 proposes a constitutional amendment to Oklahoma's budget process. It requires the State Board of Equalization to certify annual revenue estimates 35-45 days before each legislative session, capping annual state spending increases at 6% (adjusted for inflation). The bill establishes a Constitutional Reserve Fund that must grow to 15% of the previous year's revenue estimate, with limited use of reserve funds for manufacturing incentives under strict conditions. This directly affects how Oklahoma's legislature appropriates funds, limiting annual spending growth and mandating specific revenue certification procedures.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCaps annual state spending increases at 6% (inflation-adjusted), restricting budget growth and limiting fiscal flexibility.95% confidence

Sub-Topics State Budget

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