SB 1358 creates the Preserving and Advancing City and Town Transportation Fund, which will receive 0.5% of Oklahoma's sales tax revenue starting in fiscal year 2028. This fund directly supports cities and towns by providing dedicated funding for local transportation infrastructure projects like road and bridge maintenance. The bill amends existing sales tax apportionment rules to redirect this specific percentage of revenue to the new fund, replacing previous allocations for other state purposes. The legislation requires the Department of Transportation to confirm fund allocations before disbursement, ensuring funds are used for eligible city and town transportation needs.
SB 1406 creates the "Health Care Sharing Ministries Tax Parity Act" in Oklahoma, providing tax benefits for residents participating in health care sharing ministries (HCSMs). It allows eligible Oklahoma residents (qualified individuals) to deduct membership fees and medical sharing costs paid to HCSMs from their taxable income, and exempts payments received from HCSMs from taxable income for tax years 2027 and later. The bill defines HCSMs as tax-exempt organizations operating under specific ethical/religious guidelines without insurance-like guarantees, requiring quarterly financial statements and public disclaimers. These tax provisions apply only to residents actively enrolled in an HCSM for at least one month during the tax year, with claims filed using forms prescribed by the Oklahoma Tax Commission. The bill takes effect November 1, 2026.
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.
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.
SB 754 authorizes Oklahoma's OCAST to create the Doctoral Retention Grant Program, providing competitive grants to doctoral degree holders who commit to staying in Oklahoma to support the state's science and technology mission. The program prohibits duplicate funding with existing incentives and requires recipients to fulfill their proposed service commitments, with a reimbursement requirement (clawback) if they fail to do so. It establishes a revolving fund in the state treasury to finance grants and OCAST's administrative costs, with all funds designated for this purpose. The bill aims to retain doctoral talent in Oklahoma without overlapping with current state incentive programs.
SB 1161 allocates $100,000 from Oklahoma's General Revenue Fund to the Department of Corrections for the 2026 fiscal year. This funding supports the department's existing legal responsibilities, such as managing correctional facilities and staff operations. The bill declares an emergency to allow immediate use of these funds upon approval, bypassing standard budget timelines. It provides specific financial support for current Department of Corrections duties without creating new programs or altering existing laws.
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.
HB 1200 establishes a revenue stabilization mechanism for Oklahoma's state budget. It requires the State Board of Equalization to certify five-year average revenue from oil, natural gas, and corporate income taxes. If annual revenue exceeds these averages, specific percentages (25% to the Constitutional Reserve Fund, 75% to the Revenue Stabilization Fund) must be deposited - unless revenue growth exceeds $400 million (adjusted for inflation), which could trigger future tax rate reductions. The bill does not change tax rates directly but links fund deposits to revenue performance, affecting how state funds are managed rather than individual taxpayers. This procedural bill focuses on budget stability rules, not new tax policies.
HB 2754 establishes the Oklahoma Rural Hospitals Funding Assistance Grant Program to provide financial support to qualifying rural hospitals. It directly affects publicly owned hospitals in towns with fewer than 5,000 residents that meet federal critical access hospital standards. The program creates a revolving fund in the state treasury, administered by the State Department of Health, to award grants prioritizing areas with significant healthcare access barriers due to distance. Grants are limited to the total funds available in the revolving fund, and the program becomes effective July 1, 2025.
HB 2789 directs $3.3 million and $6.6 million from Oklahoma's Statewide Recovery Fund to the Oklahoma Water Resources Board for specific water-related projects previously funded under Senate Bill 13. The funds must be used as recommended by the Joint Committee on Pandemic Relief Funding, with no more than 4% retained for administrative costs. It creates special, non-fiscal-year-limited accounts in the state treasury for these funds, requiring quarterly reporting to the Joint Committee on Pandemic Relief Funding and strict adherence to American Rescue Plan Act guidelines. The bill also mandates agreements with other state agencies for fund oversight but prohibits transferring control of the funds to other agencies.
