Budget & Taxes (Tax Credits)

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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signed · Oklahoma · House May 30, 2025

HB 2610: Revenue and taxation; nonrecurring adoption expenses credit; modifying amount; effective date.

HB 2610 increases Oklahoma's tax credit for nonrecurring adoption expenses from 10% to 15% of eligible costs, raising the maximum annual credit to $3,000 for single filers or married individuals filing separately, and $6,000 for married couples filing jointly. The credit applies to Oklahoma resident taxpayers who pay for adoption-related expenses such as fees, court costs, medical expenses, and travel, but excludes attorney fees in contested adoptions and home renovations. The Oklahoma Tax Commission will establish rules for verifying qualifying expenses. This change takes effect January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credit for adoption expenses, providing direct tax relief to eligible taxpayers by raising credit amounts.95% confidence

Sub-Topics Tax Credits

in committee · Oklahoma · Senate Feb 23, 2026

SB 1389: Oklahoma Parental Choice Tax Credit Act; modifying annual limit for certain fiscal years. Emergency.

SB 1389 modifies Oklahoma's Parental Choice Tax Credit Act by increasing annual credit limits for parents or guardians paying qualified education expenses for eligible students. The bill sets income-based maximums: $7,500 for households earning under $75,000, decreasing to $5,000 for households earning over $250,000, with special provisions for schools serving homeless or financially disadvantaged students. It directly affects Oklahoma taxpayers who pay tuition or approved educational expenses (like curriculum, tutoring, or assessments) for students in accredited private schools or qualifying educational programs. The credit applies to tax years 2024 and beyond, with the Oklahoma Tax Commission required to publish specific administrative information. This bill adjusts existing credit limits without changing the program's core structure or eligibility rules.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credit limits for middle-income families ($7,500 under $75k), providing direct tax relief while capping credits for higher earners.95% confidence ✓ EducationSupports EducationIncreases tax credits for education expenses, expanding access for lower-income families and disadvantaged students via income-based limits.95% confidence

Sub-Topics Tax Credits Curriculum Higher Education School Choice

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in committee · Oklahoma · Senate Mar 10, 2025

SB 367: Income tax; modifying calculation of the Oklahoma earned income tax credit. Effective date.

SB 367 modifies Oklahoma's earned income tax credit (EITC) calculation for tax years 2022 through 2025. It sets the state credit at 5% of the federal EITC amount and requires that the maximum credit be prorated based on how much a taxpayer's Oklahoma-adjusted gross income compares to their federal adjusted gross income. This change directly affects low-to-moderate income Oklahoma residents who claim the state EITC on their tax returns. The bill takes effect November 1, 2025.

Topics ✗ Budget & TaxesOpposes Budget & TaxesReduces Oklahoma EITC benefit to 5% of federal credit and prorates max amount, directly weakening tax relief for low-income taxpayers.90% confidence

Sub-Topics Income Tax Tax Credits

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vetoed · Oklahoma · House May 29, 2025

HB 2260: Revenue and taxation; income tax credit; civil engineering; effective date.

HB 2260 creates tax credits for Oklahoma civil engineering employers and employees to encourage hiring and retention. Employers can claim credits for 50% of tuition reimbursed to new hires (first 4 years) or 5-10% of compensation paid (first 5 years), capped at $12,500 annually per employee. Employees may claim up to $5,000 yearly in tax credits for 5 years, based on their degree location (in-state vs. out-of-state). The credits apply to qualified employees with ABET-accredited degrees or Professional Engineer licenses, employed by eligible engineering firms starting January 1, 2026, through 2030. The bill takes effect November 1, 2025, with all credits expiring after 2030.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates targeted tax credits for civil engineering employers/employees, providing tax relief to incentivize hiring/retention, directly advancing tax policy within Budget & Taxes.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · Senate Feb 4, 2025

SB 281: Income tax; creating the Making Adoption Affordable Again Act; providing and modifying credit for certain contributions and adoption expenses. Effective date. Emergency.

SB 281 creates the "Making Adoption Affordable Again Act," providing Oklahoma taxpayers with a refundable income tax credit for donations to certified adoption funding organizations (like churches or 501(c)(3) nonprofits) and for non-monetary contributions (in-kind donations) supporting adoption services. Taxpayers can claim up to $10,000 annually ($50,000 for businesses), with excess credits refunded. Organizations must be certified by the Oklahoma Tax Commission, use at least 50% of funds for adoption services, limit staff compensation to 20% of funds, and report annually to maintain certification. The total annual credit amount is capped at $10 million, with adjustments to prevent exceeding this limit.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides refundable tax credit for adoption contributions, reducing taxpayer liability - direct tax relief under Budget & Taxes policy framework.95% confidence

Sub-Topics Income Tax Tax Credits

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