Budget & Taxes

in committee · Oklahoma · Senate Mar 3, 2025

SB 108: Income tax; eliminating limitation on itemization of wagering losses for certain tax years. Effective date.

SB 108 would remove a restriction preventing Oklahoma taxpayers from deducting gambling losses against their taxable income for certain tax years. This change directly affects individual taxpayers who have wagering losses in qualifying tax years, allowing them to deduct these losses as itemized deductions. The bill amends Oklahoma's tax code (68 O.S. § 2358) to eliminate the existing limitation on such deductions. It does not change other tax provisions or create new requirements.

Topics ✓ Budget & TaxesSupports Budget & TaxesRemoves restriction on deducting gambling losses, providing tax relief for qualifying taxpayers under Oklahoma's tax code.95% confidence

Sub-Topics Income Tax

Track

in committee · Oklahoma · Senate Feb 4, 2025

SB 290: Tax; modifying certain income tax rates for certain tax years. Effective date.

SB 290 modifies Oklahoma's individual income tax rates for tax years beginning in 2024 and later. It sets new tax brackets: for single filers, 0.25% on the first $1,000, rising to 4.75% on income over $6,250; for joint filers, 0.25% on the first $2,000, rising to 4.75% on income over $10,650. The bill directly affects all Oklahoma residents and nonresidents who file state income tax returns. These rate changes replace previous brackets and take effect starting with the 2024 tax year.

Topics ✓ Budget & TaxesSupports Budget & TaxesModifies tax brackets to lower rates for lower-income earners (0.25% on first $1,000 for singles), providing tax relief per Budget & Taxes indicators.90% confidence

Sub-Topics Business Taxes Income Tax

Track

in committee · Oklahoma · Senate Feb 3, 2026

SB 1394: Income tax credit; providing credit equal to OHFA down payment and closing cost assistance. Effective date.

SB 1394 creates a refundable income tax credit for Oklahoma residents who receive down payment or closing cost assistance through the Oklahoma Increased Housing Program (OHFA). The credit equals the exact amount of assistance received each tax year, directly benefiting first-time homebuyers using OHFA support. If the credit exceeds a taxpayer's income tax liability, the excess amount is refunded to them. This credit applies to tax years starting in 2027, effective November 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides refundable tax credit for first-time homebuyers using OHFA, reducing tax liability for lower-income residents through direct fiscal relief.95% confidence ✓ HousingSupports HousingCreates refundable tax credit matching OHFA down payment assistance, directly increasing affordability for first-time homebuyers through state housing program funding.90% confidence

Sub-Topics Income Tax Tax Credits Homeownership

Track

in committee · Oklahoma · Senate Feb 4, 2025

SB 327: Income tax; modifying marginal income tax brackets for certain tax years. Effective date.

SB 327 modifies Oklahoma's individual income tax rates for tax years beginning in 2024. It lowers the top marginal tax rate from 5.50% to 4.75% for single filers and married couples filing jointly, while adjusting brackets for lower income levels (e.g., 0.25% on the first $1,000 for singles instead of 0.5%). The bill directly affects Oklahoma residents filing individual income tax returns for 2024 and future years. Key changes include updated tax percentages across all income tiers, with the highest rate applying to income above specific thresholds (e.g., $12,200 for single filers). The bill is currently in committee review and would take effect for the 2024 tax year.

Topics ✓ Budget & TaxesSupports Budget & TaxesLowers top marginal tax rate (5.50%→4.75%) and reduces lower brackets (e.g., 0.5%→0.25% on first $1k), providing tax relief per Budget & Taxes indicators.95% confidence

Sub-Topics Business Taxes Income Tax

Track

in committee · Oklahoma · Senate Feb 17, 2025

SB 67: Roads and bridges; Rebuilding Oklahoma Access and Driver Safety Fund; modifying apportionment for certain fiscal years. Effective date. Emergency.

SB 67 creates a dedicated "Rebuilding Oklahoma Access and Driver Safety Fund" to finance road and bridge projects, requiring annual state funding that increases from $575 million in 2021 to $1 billion by 2033. The fund must first cover transportation debt payments before funding other projects, with strict rules preventing it from replacing existing state transportation budgets. The Oklahoma Department of Transportation manages these funds, and the State Board of Equalization must annually verify that the fund enhances - not supplants - state transportation spending. This bill ensures predictable, growing funding for infrastructure while protecting existing state transportation resources.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates dedicated fund with increasing annual state appropriations ($575M to $1B) for transportation infrastructure, strengthening public works funding without replacing existing budgets.92% confidence ✓ TransportationSupports TransportationCreates dedicated fund for road/bridge projects with increasing annual funding ($575M to $1B), directly advancing transportation infrastructure.95% confidence

Sub-Topics Bridges Roads & Highways Transportation Funding

Track

passed · Oklahoma · House Apr 28, 2025

HB 1540: Appropriations; Oklahoma Workforce Education Partnership Revolving Fund; effective date; emergency.

HB 1540 creates the Oklahoma Workforce Education Partnership Revolving Fund within the State Treasury to support career and technology education programs. The fund, managed by the Oklahoma Department of Career and Technology Education (ODCTE), will use state appropriations, gifts, and donations to expand career tech education based on critical occupation data. It operates as a reusable fund (replenished by incoming revenue) until July 1, 2030, with expenditures requiring state treasurer warrants. The bill directly affects ODCTE's ability to fund workforce training programs, aiming to align education with local job market needs.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates state fund for career tech education via appropriations, expanding essential workforce programs through government spending, directly advancing budget allocation for public services.90% confidence ✓ EducationSupports EducationCreates fund to expand career tech education programs, increasing funding and access for workforce training within education system.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentFunds career tech education programs to align with critical occupations, enhancing workforce development and employment opportunities through dedicated state funding.90% confidence ✓ TechnologySupports TechnologyFunds career and technology education programs to develop workforce skills in tech fields, directly advancing technology sector workforce development.90% confidence

Sub-Topics Career & Technical Education Workforce Development

Track

in committee · Oklahoma · Senate Feb 4, 2025

SJR 10: Constitutional amendment; expanding veteran ad valorem tax exemption.

This constitutional amendment (SJR 10) proposes expanding Oklahoma's property tax exemptions for veterans. It would allow all honorably discharged veterans and their unremarried surviving spouses - regardless of disability status - to claim full exemptions on both household personal property and homesteads (primary residences) from ad valorem taxes. The bill removes the current requirement that veterans must have a 100% disability certification to qualify. To qualify, applicants must prove Oklahoma residency and meet existing homestead exemption criteria. If approved by voters, this change would apply to tax years beginning in 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands property tax exemptions for veterans, removing disability requirement to provide broader tax relief, aligning with support indicators.95% confidence ✓ VeteransSupports VeteransExpands property tax exemption for all honorably discharged veterans and surviving spouses by removing disability requirement, increasing access to financial benefit.95% confidence

Sub-Topics Property Tax Tax Incentives Veteran Education

Track

in committee · Oklahoma · Senate Feb 23, 2026

SB 102: Income tax; excluding certain compensation to certain nonresidents; prohibiting requirement of employers to withhold taxes from certain compensation. Effective date.

SB 102 modifies Oklahoma's income tax code to exclude certain income from nonresident workers who spend limited time in the state. Specifically, it excludes compensation for nonresidents working in Oklahoma for less than 30 days per year if their total earnings from that work are $20,000 or less, effective for tax years starting in 2026. This applies directly to temporary workers, contractors, or short-term business visitors with minimal Oklahoma presence. The change simplifies tax calculations for these individuals by removing their limited-service income from Oklahoma taxable income.

Topics ✓ Budget & TaxesSupports Budget & TaxesExcludes income from nonresident workers under $20k, providing tax relief for temporary workers and simplifying tax calculations per bill summary.85% confidence

Sub-Topics Income Tax

Track

vetoed · Oklahoma · Senate May 29, 2025

SB 915: Solar energy; requiring certain commercial solar energy facilities to meet certain standards. Effective date. Emergency.

This bill requires owners of commercial solar energy facilities in Oklahoma to pay annual property taxes on their solar installations by December 31 each year. It directly affects commercial solar facility owners, who previously may have been exempt from such taxes. The key provision mandates that taxes and other assessments be paid to the county treasurer annually, aligning commercial solar facilities with standard property tax rules. This changes the tax treatment for commercial solar projects, making them subject to local property tax requirements effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill closes tax exemption for commercial solar facilities, requiring annual property taxes, increasing state revenue and aligning with standard tax rules.90% confidence ✗ EnergyOpposes EnergyImposes property taxes on commercial solar facilities, increasing costs and potentially hindering solar development by removing previous tax exemptions.90% confidence

Sub-Topics Property Tax Solar

Track

in committee · Oklahoma · House Feb 4, 2025

HB 1009: Revenue and taxation; income tax; rates; effective date.

HB 1009 reduces Oklahoma's individual income tax rates for tax years beginning in 2022-2024. It lowers the top marginal rate from 5.50% to 4.75% for single filers (and 5.50% to 5.25% for married couples filing jointly) on income above specific thresholds, with new brackets starting at 0.25% for the first $1,000 of taxable income. The bill directly affects all Oklahoma residents and nonresidents who file individual income tax returns. Key provisions include lowering rates across all income tiers and specifying that reductions apply to tax years ending in 2024. The bill also includes similar rate reductions for corporate income tax.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces income tax rates across all tiers, providing tax relief per budget & taxes topic.90% confidence

Sub-Topics Business Taxes Income Tax

Track