Budget & Taxes (Tax Credits)

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

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passed · Oklahoma · Senate Mar 31, 2026

SB 1395: Income tax credit; limiting new jobs tax credit to certain tax years for manufacturers; modifying carryforward. Effective date.

SB 1395 modifies Oklahoma's new jobs tax credit program for manufacturers. The bill restricts the credit to specific tax years and changes how unused credits can be carried forward to future years. Manufacturers must now submit an application and receive approval before claiming the credit. These changes update the program's eligibility and administrative requirements.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRestricts manufacturer tax credit eligibility and carryforward rules, limiting tax benefits for businesses rather than expanding them.90% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · Senate Feb 5, 2025

SB 682: Oklahoma Parental Choice Tax Credit Act; modifying installment payment for certain eligible students. Effective date.

SB 682 modifies Oklahoma's Parental Choice Tax Credit Program to change how taxpayers claim credits for private school expenses. It establishes income-based credit limits (ranging from $5,000 to $7,500 annually) for parents or guardians paying tuition at accredited private schools, with higher amounts for families below certain income thresholds. The bill also prohibits the Oklahoma Tax Commission from reclaiming credits for eligible students and clarifies that credits cover tuition, fees, and approved educational materials. This directly affects Oklahoma families using the program to offset private school costs, with specific provisions for schools serving homeless or financially disadvantaged students.

Topics ✓ Budget & TaxesSupports Budget & TaxesEstablishes income-based tax credits for private school tuition, providing targeted tax relief to lower-income families through modified credit limits and prohibited reclaiming.95% confidence ✓ EducationSupports EducationCreates income-based tax credits for private school tuition, expanding access for families and enhancing educational choice options.95% confidence

Sub-Topics Tax Credits Higher Education School Choice

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died · Oklahoma · Senate Feb 19, 2025

SB 228: Covenant marriage; creating the Covenant Marriage Act of Oklahoma; establishing requirements for entering covenant marriage; providing tax credit for covenant marriage. Effective date. Emergency.

SB 228 proposes creating "covenant marriage" in Oklahoma as a distinct legal option, requiring couples to sign a detailed Declaration of Intent affirming lifelong commitment, complete premarital counseling, and file this document with their marriage license application. It establishes stricter divorce rules, allowing dissolution only for abandonment, abuse, or adultery after mandatory counseling (except in abuse cases), and permits conversion of existing marriages to covenant marriages through similar steps. The bill also creates an annual tax credit of $2,500 for joint filers or $1,250 each for separate filers for couples entering covenant marriage, non-refundable but carry-forwardable for five years. The bill, introduced in 2025 but failed in committee, has not become law.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit for covenant marriage, offering tax relief to qualifying couples. Direct fiscal policy element within the bill.85% confidence

Sub-Topics Tax Credits

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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

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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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