Budget & Taxes (Tax Credits)

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

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signed · Oklahoma · Senate May 27, 2025

SB 684: Income tax credit; relating to the Oklahoma Parental Choice Tax Credit Act; modifying tax years for which certain annual credit limit is enforced; prescribing procedure for enforcement of annual limit. Effective date. Emergency.

SB 684 modifies Oklahoma's Parental Choice Tax Credit Act by increasing the annual credit limit to $7,500 for eligible taxpayers claiming credits for private school tuition and related education expenses. It changes the tax years for which the credit limit applies and requires the Oklahoma Tax Commission to maintain a publicly accessible, searchable online list of all taxpayers claiming the credit, including their names, credit amounts, and the specific law authorizing the credit. This bill directly affects Oklahoma taxpayers claiming the education credit and participating private schools, which must provide information to the Tax Commission. The law also specifies that qualified expenses include tuition at accredited private schools or certain educational services like tutoring and materials. The changes take effect immediately upon the bill's approval.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credit limit to $7,500 for private school tuition, providing tax relief under parental choice program.90% confidence ✓ EducationSupports EducationIncreases tax credits for private school tuition, expanding educational access through school choice programs.90% confidence

Sub-Topics Income Tax Tax Credits Higher Education School Choice

passed · Oklahoma · House Apr 28, 2025

HB 1848: Revenue and taxation; income tax credit; childcare expenses; childcare services; definitions; effective date.

HB 1848 creates an Oklahoma income tax credit for employers that covers up to 30% of eligible childcare expenses for employees' children aged 5 or younger. Qualifying expenses include direct childcare assistance, operating a childcare facility for employees, or reserving spots at a licensed childcare facility. The credit is capped at $30,000 per employer annually and $5 million statewide per fiscal year, and applies to tax years 2026 through 2030. This policy aims to reduce childcare costs for working families by incentivizing employer-supported childcare solutions.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates income tax credit for childcare expenses, providing tax relief to employers and employees while capping state fiscal impact.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill provides tax credit for employer childcare expenses, reducing costs for working parents and supporting workforce participation in employment standards.90% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · Senate Feb 17, 2025

SB 221: Income tax credit; Oklahoma Rural Jobs Act; providing expanded annual credit limitation for certain applications. Effective date. Emergency.

SB 221 doubles the annual state tax credit limit under Oklahoma's Rural Jobs Act, raising it from $15 million to $30 million for applications approved on or after July 1, 2025. It allows rural investment funds certified before this date to reapply for certification for subsequent projects, ensuring continuity for existing applicants. The bill requires rural funds to secure cash investments within 95 days of certification, with at least 10% coming from local sources like employees or affiliates, and mandates the Department to provide eligibility opinions within 15 business days. This directly affects rural investment funds and businesses in Oklahoma’s rural areas seeking tax credit-funded capital.

Topics ✓ Budget & TaxesSupports Budget & TaxesDoubles tax credit limit ($15M→$30M) under Rural Jobs Act, providing tax relief for rural investment funds and expanding fiscal incentives for economic development.90% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · Senate Feb 25, 2026

SB 683: Education; Oklahoma Parental Choice Tax Credit Act; expanding qualifying expenses eligible for credit; requiring submission of receipt or list to claim certain qualifying expenses. Effective date.

SB 683 creates an Oklahoma income tax credit for families covering education expenses for eligible students. It directly affects Oklahoma taxpayers with children in accredited private schools or using approved alternative education methods (like homeschooling). The credit amount varies by family income: up to $7,500 annually for lower-income families ($75,000 adjusted gross income or less), decreasing to $5,000 for higher earners ($250,000+), with separate provisions for schools serving homeless or financially disadvantaged students. Qualified expenses include private school tuition, tutoring, textbooks, and standardized test fees, but exclude amounts covered by scholarships. The bill amends existing tax law to define terms and update references, effective for tax years 2024 and beyond.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates income tax credit for lower-income families ($75k AGI or less), providing direct tax relief under budget/tax policy95% confidence ✓ EducationSupports EducationProvides tax credits for private/homeschool expenses, expanding educational access and funding options for families per bill's explicit purpose.90% confidence

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

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died · Oklahoma · House Feb 5, 2025

HB 2091: Revenue and taxation; income tax credit; rent; procedures; effective date.

HB 2091 creates a refundable state income tax credit for Oklahoma residents who pay rent for their primary residence. Starting in 2026, eligible taxpayers can claim up to $110 annually, with future credit amounts adjusted yearly based on inflation measured by the Consumer Price Index. To claim the credit, individuals must provide their landlord's name, rental address, and annual rent paid on a form required by the Oklahoma Tax Commission. The credit applies to all qualifying renters, not just low-income households, and becomes effective November 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates refundable income tax credit for renters, providing direct tax relief to lower-income residents, advancing fiscal support for housing costs.95% confidence ✓ HousingSupports HousingCreates refundable tax credit for renters to reduce housing costs, directly advancing affordable housing access for qualifying residents.95% confidence

Sub-Topics Income Tax Tax Credits Affordable Housing Renters Tenant Rights

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in committee · Oklahoma · House Feb 4, 2025

HB 2447: Revenue and taxation; broadband communications; income tax credit; effective date.

HB 2447 creates a 25% income tax credit for businesses that invest in qualified broadband telecommunications infrastructure in Oklahoma, effective for tax years beginning after December 31, 2025. The credit covers the cost of equipment, facilities, and technology used to provide high-speed internet service, with the credit limited to reducing tax liability to zero and allowing unused portions to be carried forward for up to five years. This policy directly affects businesses building or upgrading broadband networks, particularly in rural areas as defined by the Rural Broadband Expansion Council. The bill aims to incentivize broadband expansion by reducing costs for infrastructure investment. It becomes effective January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 25% business income tax credit for broadband infrastructure investment, reducing taxable income and incentivizing private sector broadband expansion through fiscal policy.95% confidence ✓ TechnologySupports TechnologyCreates 25% tax credit for broadband infrastructure investment, directly expanding high-speed internet access through business incentives.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Broadband Access Telecommunications

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signed · Oklahoma · Senate May 29, 2025

SB 1135: Health insurance; premium taxes; clarifying applicability of certain exclusion; premium tax credit; creating certain exclusion. Emergency.

SB 1135 allocates $100,000 from Oklahoma's General Revenue Fund to the Oklahoma Health Care Authority for the 2025-2026 fiscal year to support its operations. The bill declares an emergency to allow immediate implementation upon approval. This legislation provides specific funding for the Authority's duties without altering existing health insurance or tax policies.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $100k from General Revenue Fund to fund Oklahoma Health Care Authority operations, directly advancing state budget allocation for essential services without tax policy changes.90% confidence ✓ HealthcareSupports HealthcareAllocates $100k to Oklahoma Health Care Authority for operations, directly funding public health services without altering existing policies.90% confidence

Sub-Topics Revenue Tax Credits Insurance

died · Oklahoma · Senate Feb 26, 2025

SB 472: Oklahoma Parental Choice Tax Credit Act; expanding scope of scholarships while participating in the program. Effective date.

SB 472, titled "Oklahoma Parental Choice Tax Credit Act; expanding scope of scholarships while participating in the program," was withdrawn from committee on February 19, 2025, and is no longer active. The bill's original intent, as reflected in its title, was to expand tax credit eligibility for education scholarships under Oklahoma's parental choice program. However, with the title stricken and the bill withdrawn, no legislative action or policy changes were enacted. This procedural withdrawal means the proposed expansion of scholarship access did not advance.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill expands tax credits for education scholarships, providing tax relief and aligning with tax policy support for education funding through fiscal incentives.95% confidence ✓ EducationSupports EducationBill explicitly aimed to expand tax credit scholarships for education, increasing parental choice and access to educational options under Oklahoma's parental choice program.95% confidence

Sub-Topics Tax Credits School Choice Student Financial Aid

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passed · Oklahoma · Senate Apr 15, 2025

SB 1114: Constitutional amendment; providing credit for owners of property that qualify for certain limitation on the growth of fair cash value.

SB 1114 creates a property tax credit for Oklahoma homeowners with qualifying homesteads who meet the existing "limitation on growth of fair cash value" under state law. The credit equals the difference between a homeowner's current year property tax and the prior year's tax, but only if the current tax is lower. County assessors must deduct this credit from the tax bill by October 1 annually, though the credit cannot reduce taxes below zero. The credit applies starting tax year 2026 and is codified in Oklahoma Statutes. It directly affects qualifying homestead property owners by potentially lowering their annual property tax burden.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax credit to qualifying homeowners, reducing their tax burden starting 2026 per bill language.95% confidence

Sub-Topics Property Tax Tax Credits

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