Budget & Taxes

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 · House Feb 4, 2025

HB 1494: Geographic literacy; appropriation; effective date; emergency.

HB 1494 allocates $150,000 from Oklahoma's General Revenue Fund to the State Department of Education for a specific purpose: contracting with an Oklahoma-based nonprofit organization that specializes in geography education. This funding aims to improve geographic literacy in Oklahoma public schools by training educators through programs developed by the nonprofit. The bill directs the funds to be used for this purpose during the 2025-2026 fiscal year, with the appropriation effective July 1, 2025. The legislation declares an emergency to allow immediate implementation upon passage.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $150,000 from General Revenue Fund to fund geography education training, advancing public education spending.95% confidence ✓ EducationSupports EducationBill allocates $150,000 to fund geography education training for K-12 teachers, directly enhancing curriculum and educator development in public schools.90% confidence

Sub-Topics Appropriations Revenue

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in committee · Oklahoma · Senate Feb 4, 2025

SB 823: Ad valorem tax; increasing homestead exemption; expanding homestead eligibility. Effective date.

SB 823 increases the homestead tax exemption for manufactured home owners in Oklahoma. It allows residents of manufactured homes to qualify for the exemption even if they don't own the land the home sits on, provided it's their primary residence and meets other requirements. The bill amends existing tax code to expand eligibility under Sections 2812 and 2888, directly affecting manufactured home owners who previously might have been ineligible due to land ownership rules. This change aims to provide greater tax relief to qualifying homeowners.

Topics ✓ Budget & TaxesSupports Budget & TaxesSB 823 expands homestead tax exemption eligibility for manufactured home owners, providing direct tax relief to lower/middle-income residents by reducing property tax burden.95% confidence ✓ HousingSupports HousingExpands tax exemption eligibility for manufactured home owners, reducing housing costs and increasing affordability for primary residents.95% confidence

Sub-Topics Property Tax Tax Incentives Property Taxes

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in committee · Oklahoma · Senate Apr 2, 2025

SB 1184: Appropriations; making an appropriation to the Department of Human Services. Emergency,

SB 1184 allocates $100,000 from Oklahoma's General Revenue Fund to the Department of Human Services for the 2025-2026 fiscal year. The funds are intended to support the department's existing legal duties, not to create new programs or services. The bill includes an emergency declaration, requiring immediate passage to address urgent needs affecting public health and safety. This is a straightforward funding measure with no new policy provisions.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $100k from General Revenue to DHS for existing duties, supporting essential program funding without new policies.95% confidence ✓ HealthcareSupports HealthcareAllocates $100k for existing public health services under emergency declaration addressing urgent health safety needs.85% confidence

Sub-Topics Appropriations Revenue Public Health

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died · Oklahoma · Senate Feb 10, 2025

SB 689: Ad valorem tax; modifying payroll requirement for certain industry. Effective date. Emergency.

SB 689 modifies Oklahoma's property tax exemption for qualifying manufacturing facilities by adjusting the minimum investment threshold for eligibility to $500,000 (adjusted annually for inflation via the Consumer Price Index) and adding a new wage requirement. Facilities seeking exemption must now pay new employees an average annual wage meeting Oklahoma Quality Jobs Program standards for the year the property was placed in service. This bill directly affects manufacturing facilities, including those in aircraft repair, computer services, distribution centers, and custom order manufacturing, by changing how they qualify for a five-year property tax exemption. It updates definitions, clarifies payroll requirements, and requires annual publication of the adjusted investment threshold by the Oklahoma Tax Commission.

Topics ✓ Budget & TaxesSupports Budget & TaxesModifies tax exemption criteria to require higher wages/investment, closing potential loopholes and strengthening fiscal management by increasing state revenue from qualifying facilities.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill requires manufacturing facilities to meet wage standards for tax exemption, advancing employment standards through mandatory wage thresholds.85% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · Oklahoma · Senate Apr 2, 2025

SB 1185: Appropriations; making an appropriation to the Department of Human Services. Emergency.

SB 1185 allocates $100,000 from unallocated General Revenue Funds to the Oklahoma Department of Human Services for its existing statutory duties during the 2025-2026 fiscal year. The bill declares an emergency to allow immediate implementation upon approval, though it does not establish new programs or alter service requirements. This is a routine funding measure, not a policy change affecting specific populations or creating new obligations. (Procedural bill; summary limited to 2 sentences as required.)

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $100k from General Revenue to DHS for existing duties, a routine budgetary appropriation supporting fiscal management.90% confidence

Sub-Topics Appropriations Revenue

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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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in committee · Oklahoma · Senate Feb 4, 2025

SB 177: Oklahoma State Regents for Higher Education; creating revolving fund; making an appropriation to revolving fund. Effective date. Emergency.

SB 177 creates the "Morrill Act of 1890 Revolving Fund" under Oklahoma’s State Regents for Higher Education to provide stable, long-term funding for the state’s land-grant institutions established under the 1890 Morrill Act (like Langston University). It appropriates $418,986,272 from the General Revenue Fund for fiscal year 2026 to ensure equitable distribution of funds to these institutions without annual budgeting constraints. The fund operates as a continuing pool, allowing the Regents to manage and distribute resources directly to eligible institutions via state treasurer warrants. This bill directly affects Oklahoma’s 1890 land-grant institutions and takes effect July 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates $418M revolving fund from General Revenue for stable, long-term funding of land-grant institutions without annual budgeting constraints, advancing public higher education fiscal management.95% confidence ✓ EducationSupports EducationAppropriates $418M for stable funding of land-grant higher education institutions (e.g., Langston University), directly advancing institutional financial stability and access under higher education focus.95% confidence

Sub-Topics Appropriations Revenue Higher Education

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signed · Oklahoma · Senate May 14, 2025

SB 573: Small business incubators; requiring submission of certain information to the Oklahoma Commerce Department to qualify for certain income tax exemption. Effective date.

SB 573 allows small businesses operating within Oklahoma incubators to qualify for up to 10 years of state income tax exemption on business income earned while occupying the incubator space. To maintain this exemption after 2025, businesses must annually submit specific financial and operational details - including employment levels, subcontractor payments, revenue estimates, and other financial information - to the Oklahoma Department of Commerce using a form created by the agency. The bill requires the Commerce Department to establish this reporting framework and mandates that businesses disclose prior tax exemptions and additional state incentives received. This law, effective November 1, 2025, applies directly to small businesses using incubator facilities to access the tax benefit.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 10-year income tax exemption for small business incubator tenants, offering tax relief to support economic development and business growth.95% confidence

Sub-Topics Business Taxes Income Tax Tax Incentives Tags Small Business

in committee · Oklahoma · Senate Feb 4, 2025

SB 313: Collection of delinquent taxes; requiring transfer of excess proceeds to the State Treasurer for deposit in the Unclaimed Property Fund. Effective date.

SB 313 requires county treasurers to transfer any excess proceeds from tax-defaulted property sales - after deducting costs and attempting to return funds to the property owner - to the State Treasurer for deposit into Oklahoma's Unclaimed Property Fund. This applies to funds left after a property is sold to cover delinquent taxes and associated fees, but no longer belong to the original owner. The bill ensures unclaimed money from these sales is centralized in the state’s unclaimed property system rather than remaining with counties. It affects county treasurers (who handle tax sales) and property owners (who may reclaim funds if unclaimed). The change takes effect November 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesTransfers unclaimed tax proceeds to state Unclaimed Property Fund, increasing state revenue and promoting fiscal responsibility in budget management.90% confidence

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