Budget & Taxes

passed · Oklahoma · Senate Apr 17, 2025

SB 304: Income tax; limiting certain personal exemption to certain tax years; modifying amount of standard deduction for certain tax years. Effective date.

SB 304 modifies Oklahoma's individual income tax structure for the 2024 tax year. It establishes new tax brackets with lower rates (0.25% to 4.75% for single filers, 0.25% to 4.75% for married couples filing jointly) compared to prior years, replacing older rates. The bill also limits certain personal exemptions to specific tax years and adjusts standard deduction amounts. These changes directly affect all Oklahoma residents filing individual income tax returns for 2024. The bill updates statutory references and language but does not create new taxes.

Topics ✓ Budget & TaxesSupports Budget & TaxesLowers 2024 income tax brackets (0.25%-4.75%) compared to prior years, providing tax relief to Oklahoma residents filing individual returns.95% confidence

Sub-Topics Business Taxes Income Tax

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in committee · Oklahoma · Senate Feb 3, 2026

SB 1388: Income tax credit; providing refundable child tax credit; making child care credit refundable. Effective date.

SB 1388 creates a refundable child tax credit for Oklahoma families with children under 19. It provides $500 per child for taxpayers with adjusted gross income of $70,000 or less, phasing out by $0.15 for every $10 of income above that threshold, and eliminating eligibility above $100,000. The credit applies to tax years beginning in 2027 and is refundable, meaning eligible taxpayers receive a cash payment even if they owe no state income tax. Married filers must include spousal income to determine eligibility and credit amount. This bill directly affects low-to-moderate-income Oklahoma families with qualifying children.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides refundable tax relief for lower/middle-income families ($70k AGI threshold), directly advancing fiscal support through targeted child tax credits per bill summary.95% confidence

Sub-Topics Income Tax Tax Credits

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vetoed · Oklahoma · House May 30, 2025

HB 1378: Revenue and taxation; sales tax exemptions; agriculture; definition to include timber; effective date.

HB 1378 would have expanded Oklahoma's sales tax exemptions for agriculture by adding timber to the definition of "agricultural products." This change would have exempted sales of timber (including timber products used in farming) from sales tax, directly affecting Oklahoma agricultural businesses, farmers, and timber producers. The bill amended existing tax code provisions that already exempted farm products, livestock, feed, fertilizer, machinery, and other agricultural supplies. However, the bill was vetoed by the Governor on June 10, 2025, and did not become law.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands sales tax exemptions for agricultural timber, providing tax relief to farmers and timber producers per bill summary.95% confidence

Sub-Topics Sales Tax

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in committee · Oklahoma · House Feb 4, 2025

HB 2093: Oklahoma Turnpike Authority; establishing bond debt ceiling; effective date.

HB 2093 establishes a $3.15 billion maximum debt ceiling for the Oklahoma Turnpike Authority's revenue bonds, limiting total outstanding bonds to this amount. The bill modifies existing law to set this specific cap, replacing previous debt limits while allowing the Authority to issue bonds for turnpike projects under the same existing rules. It does not create new projects or change bond issuance procedures beyond the new debt ceiling. The Authority remains authorized to use bond proceeds solely for turnpike project costs within this $3.15 billion limit.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill sets $3.15B debt ceiling for turnpike bonds, promoting fiscal responsibility by capping debt issuance without altering bond procedures.90% confidence ✓ TransportationSupports TransportationBill establishes $3.15B debt ceiling for turnpike bonds, enabling continued infrastructure funding within defined limits per existing project rules.92% confidence

Sub-Topics Debt & Bonds

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died · Oklahoma · House Feb 7, 2025

HB 1519: Revenue and taxation; Oklahoma Revenue and Taxation Act of 2025; effective date.

HB 1519 expands Oklahoma's Parental Choice Tax Credit Program by increasing the maximum annual tax credit for private school tuition from $5,000 to $7,500, removing the previous cap. It creates income-based tiers for the credit amount (ranging from $5,000 to $7,500 depending on household income) and broadens eligible expenses to include tutoring, textbooks, and standardized test fees. The bill directly affects Oklahoma taxpayers with children enrolled in accredited private schools, including schools serving homeless students or financially disadvantaged students (defined as 90% of enrollment below 250% of the federal poverty threshold). It requires taxpayers to submit receipts for qualified expenses and allows unused credit to be refunded. The program would apply to tax years 2024 and beyond, administered by the Oklahoma Tax Commission.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax credit program with income-based tiers, providing tax relief for families using private education. Directly modifies tax policy to reduce taxpayer liability.95% confidence ✓ EducationSupports EducationExpands tax credits for private school tuition and related expenses, increasing educational access and financial support for families, directly aligning with education access indicators.95% confidence

Sub-Topics Tax Credits Higher Education School Choice Testing & Assessment

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in committee · Oklahoma · House Feb 4, 2025

HB 1452: Revenue and taxation; Green Energy Subsidy Recapture Tax Act; definitions; purpose; tax levy; exemptions; reporting procedures; remittance; apportionment of revenues; effective date.

HB 1452 imposes a state tax on owners of wind, solar, geothermal, and hydroelectric facilities in Oklahoma, equal to the federal production tax credit amount they could have claimed. The tax applies regardless of whether the facility owner actually used the federal credit. Government-owned facilities are exempt from this tax, while private owners must report and pay the tax monthly to the Oklahoma Tax Commission. All revenue collected flows into the state's General Revenue Fund.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes state tax on private renewable facilities equal to federal credits, directing revenue to General Revenue Fund - increasing state tax revenue and fiscal management.95% confidence ✗ EnergyOpposes EnergyTaxing private renewable facilities at federal credit value removes financial incentive, directly opposing renewable energy growth by recapturing subsidies.95% confidence ✗ EnvironmentOpposes EnvironmentBill recaptures federal green energy subsidies via state tax, removing financial incentive for renewables, weakening clean energy adoption.92% confidence

Sub-Topics Revenue Tax Credits Hydroelectric Renewable Energy Solar

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in committee · Oklahoma · Senate Feb 4, 2025

SB 343: Income tax; providing credit for certain workplace clothing. Effective date.

SB 343 creates a refundable income tax credit for Oklahoma employees required to purchase specific safety or work-related clothing. The credit covers up to $100 per year for items like steel-toed boots, helmets, high-visibility vests, or protective eyewear mandated by employers. If the credit exceeds the employee's tax bill, the excess is refunded directly. The policy applies starting with tax year 2026, effective November 1, 2025. This directly benefits workers in safety-sensitive jobs who bear these costs.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides refundable tax credit ($100/year) for mandated work clothing, reducing tax burden for employees in safety-sensitive jobs, aligning with tax relief for lower/middle income.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill provides refundable tax credit for mandatory safety/work clothing, reducing worker costs and improving workplace safety compliance, directly protecting workers' rights.90% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · Senate Feb 4, 2025

SB 309: Income tax; providing credit for eligible dependent children; stipulating credit amount. Effective date.

SB 309 creates an Oklahoma income tax credit for married couples with dependent children under 19 who qualify for federal dependent status. The credit amount ranges from $500 (for couples married 1-5 years) to $2,000 (for couples married 15+ years) per child, based on marriage duration. Credits are capped at $10,000 for joint filers and $5,000 for separate filers, cannot reduce tax liability below zero, and unused portions may be carried forward for up to five years. This bill directly affects married couples filing jointly or separately with qualifying children, excluding single-parent households.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing liability for families with children, aligning with tax relief for middle-income households per bill's credit structure.95% confidence

Sub-Topics Income Tax Tax Credits

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died · Oklahoma · Senate Mar 3, 2025

SB 72: Sales Tax Relief Act; modifying authorized claim amounts for certain years. Effective date.

SB 72 updates Oklahoma's Sales Tax Relief Act to adjust income thresholds and refund amounts for low-income residents filing for sales tax refunds. For 2025 and beyond, single filers without dependents or special circumstances may claim up to $200 annually if their household income is under $35,000 (or $100 under $40,000). Individuals with dependents, disabilities, or who are 65+ may claim up to $200 under $45,000 (or $150 under $50,000). The bill directly affects Oklahoma residents meeting these income criteria who file annual sales tax relief claims.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides direct sales tax refunds to low-income residents, reducing their tax burden through adjusted income thresholds for qualifying groups.95% confidence

Sub-Topics Sales Tax

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in committee · Oklahoma · Senate Feb 20, 2025

SB 38: Sales and use tax apportionment; modifying apportionment for Oklahoma Historical Society. Effective date. Emergency.

SB 38 modifies Oklahoma's sales tax revenue allocation to provide a fixed annual amount for the Oklahoma Historical Society. It specifies that starting in fiscal year 2026, 0.06% of sales tax revenue will be directed to the Historical Society's Capital Improvement and Operations Revolving Fund, capped at $1,880,553.25 annually. This change directly affects the Historical Society's funding, replacing the previous cap based on 2015 apportionment amounts. The bill does not alter other tax revenue allocations for education, tourism, or general funds.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates 0.06% of sales tax revenue (capped at $1.88M) to Oklahoma Historical Society, providing dedicated funding for its operations. This is a direct budgetary appropriation supporting state program funding.90% confidence

Sub-Topics Revenue Sales Tax State Budget

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