Budget & Taxes

passed both · Oklahoma · House Apr 14, 2025

HB 1539: Revenue and taxation; individual income tax; rates; brackets; revenue determinations; effective date.

HB 1539 lowers Oklahoma's individual income tax rates for the 2024 tax year. It reduces the top tax rate from 5.50% to 4.75% for most filers, with new brackets starting at 0.25% on the first $1,000 of income (e.g., 0.75% on the next $1,500 for single filers). The bill affects all Oklahoma residents and nonresidents who file individual income tax returns, applying to taxable income earned in 2024. The change eliminates the previous tiered top rate structure and requires no deduction for federal income taxes paid.

Topics ✓ Budget & TaxesSupports Budget & TaxesLowers individual income tax rates for most filers, providing tax relief and reducing the top rate from 5.50% to 4.75%.95% confidence

Sub-Topics Business Taxes Income Tax

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in committee · Oklahoma · House Feb 4, 2025

HB 1023: Revenue and Taxation; vehicle excise tax; value; bill of sale; report; effective date.

HB 1023 modifies Oklahoma's vehicle excise tax calculation by requiring the taxable value to be the actual sales price before trade-in discounts, but not exceeding 20% above the average retail price from official automotive references. It mandates that bills of sale include the sales price, number of tires, and tire rim sizes. Service Oklahoma must report the tax's fiscal impact annually starting November 2026. The bill directly affects vehicle buyers, sellers, and Service Oklahoma, effective November 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesModifies vehicle excise tax calculation to standardize taxable value, requiring actual sales price inclusion and annual fiscal reporting, promoting fiscal accountability and transparency in tax administration.92% confidence

Sub-Topics Sales Tax

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in committee · Oklahoma · House Feb 4, 2025

HJR 1009: Oklahoma Constitution; ad valorem; homestead exemption; disabled veterans; ballot title; filing.

This bill proposes a constitutional amendment to expand Oklahoma's homestead tax exemption for disabled veterans. It would allow veterans with disability ratings from 10% to 100% (previously limited to 100%) to qualify for a tiered tax exemption on their home's value: 25% for 10-29% disability, 50% for 30-49%, 75% for 50-69%, and 100% for 70-100%. Surviving spouses of qualifying veterans would also be eligible. To qualify, veterans must prove Oklahoma residency, have a VA-certified disability, and meet existing homestead exemption requirements. The amendment would take effect January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands property tax exemption for disabled veterans, reducing their tax burden - direct tax relief aligning with support indicators for lower-income groups.95% confidence ✓ VeteransSupports VeteransExpands homestead tax exemption eligibility for disabled veterans from 100% to 10% disability rating with tiered exemptions, directly strengthening veterans' financial benefits.95% confidence

Sub-Topics Property Tax Tax Incentives Veteran Benefits

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in committee · Oklahoma · Senate Feb 24, 2025

SB 98: Income tax; modifying certain rates, exemptions, and deductions for certain tax years. Effective date. Emergency.

SB 98 modifies Oklahoma's individual income tax rates for the 2024 tax year. It lowers the top marginal tax rate to 4.75% for single filers and similar rates for married couples filing jointly, replacing previous rates of 5.25% or 5.50%. The bill affects all Oklahoma residents and nonresidents filing individual income tax returns for 2024. Key provisions define new tax brackets with reduced rates across income levels, specifically targeting the 2024 tax year. The change applies to taxable income calculated under Oklahoma law for that year.

Topics ✓ Budget & TaxesSupports Budget & TaxesLowers top tax rate for 2024, providing tax relief across income brackets per bill summary.90% confidence

Sub-Topics Business Taxes Income Tax

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in committee · Oklahoma · Senate Feb 4, 2025

SJR 15: Constitutional amendment; elimination of property tax; authorization to levy consumption tax.

This Oklahoma constitutional amendment (SJR 15) proposes eliminating all property taxes by January 1, 2030, and replacing them with county-level consumption taxes on final goods and services sold within the county. It requires counties to develop voter-approved plans by 2028 to fund services (including schools) previously supported by property taxes, using a new Section 20A added to the state constitution. Counties must hold special elections for voter approval of any consumption tax levy or rate changes, with no tax exemptions allowed, and must revise proposals if rejected. The bill directly affects all Oklahoma counties, residents (through potential tax shifts), and school districts (which would rely on consumption tax revenue).

Topics ✓ Budget & TaxesSupports Budget & TaxesEliminates property taxes (tax relief) and mandates county plans to maintain funding for services, promoting fiscal responsibility95% confidence

Sub-Topics Property Tax Revenue Sales Tax

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in committee · Oklahoma · House Feb 19, 2026

HB 1171: Revenue and taxation; sales tax exemption; nonprofit entities; limitation on gross revenues; exception for alcohol and tobacco; effective date; emergency.

HB 1171 modifies Oklahoma's sales tax exemption rules for nonprofits by requiring organizations to have annual gross revenue under $500,000 to qualify for exemption on tangible personal property and services. It specifically excludes alcohol and tobacco sales from the exemption, meaning nonprofits selling these items cannot claim tax-free status. This change directly affects small nonprofits that previously qualified for full exemption but now must meet the revenue threshold to maintain tax-free status on other sales. The bill also updates existing exemption categories but does not alter the core tax treatment for qualifying nonprofits beyond the revenue limit and alcohol/tobacco exception.

Topics ✓ Budget & TaxesSupports Budget & TaxesRestricts nonprofit tax exemptions to increase state revenue, closing a loophole for higher-revenue entities and ensuring alcohol/tobacco sales are taxable.90% confidence

Sub-Topics Sales Tax Tax Incentives

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died · Oklahoma · Senate May 14, 2026

SB 258: Transportation financing; creating the Preserving and Advancing County Transportation Fund.

SB 258 creates a dedicated fund called the "Major Collector Routes Fund" in Oklahoma's state treasury to support county transportation projects. It directly affects Oklahoma counties, which can apply for grants to improve roads and bridges through a competitive program. The fund uses state budget money (not new taxes) to pay for projects evaluated on safety, innovation, necessity for public use, and features like traffic safety or school bus routes. Counties must contribute financially to projects to qualify, and funds are available continuously without annual budget limits.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates existing state budget funds to dedicated transportation fund, supporting infrastructure through fiscal management without new taxes.90% confidence ✓ TransportationSupports TransportationCreates dedicated fund for county road/bridge projects using state budget, prioritizing safety and public use - directly funds transportation infrastructure.95% confidence

Sub-Topics State Budget Public Transit Roads & Highways Transportation Funding

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died · Oklahoma · House Feb 24, 2025

HB 2057: Trauma Care Assistance Revolving Fund; medical marijuana taxation; apportionment; assess; collect; apportionments; funds; effective date; emergency.

HB 2057 establishes a 7% tax on retail medical marijuana sales in Oklahoma, collected at the point of sale. Tax revenue is allocated annually starting July 2026: $65 million is divided between the State Public Common School Building Fund (59.23%), the Oklahoma Medical Marijuana Authority (34.62%), drug and alcohol rehabilitation programs (5%), and the Trauma Care Assistance Revolving Fund (1.15%). Any surplus tax collections go to the General Revenue Fund. The bill also requires medical marijuana businesses to pay taxes or face permanent license revocation.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 7% medical marijuana tax to fund schools (59.23%), medical authority (34.62%), rehab (5%), and trauma care (1.15%), explicitly allocating revenue to public services.95% confidence ✓ Criminal JusticeSupports Criminal JusticeAllocates 5% of medical marijuana tax revenue to drug/alcohol rehabilitation programs, directly funding criminal justice reform initiatives to reduce recidivism.90% confidence ✓ EducationSupports EducationAllocates 59.23% of medical marijuana tax revenue to State Public Common School Building Fund, directly funding K-12 infrastructure.95% confidence ✓ HealthcareSupports HealthcareAllocates 34.62% ($22.5M) to Medical Marijuana Authority and 1.15% ($0.75M) to Trauma Care Fund, directly funding healthcare-related programs per bill's revenue distribution.92% confidence

Sub-Topics Revenue Drug Policy

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passed · Oklahoma · House Apr 21, 2025

HB 2407: State government; creating the Main Street Grant Program Revolving Fund; Department of Commerce; requirements to qualify; effective date; emergency.

HB 2407 creates a $2 million revolving fund in the Oklahoma State Treasury, managed by the Department of Commerce, to provide grants for qualifying Main Street programs. To receive funding, a Main Street must first be designated by Oklahoma's Main Street Program, maintain that designation, and submit annual proof of eligibility. The grant funds, appropriated from the General Revenue Fund for fiscal year 2026, may be used for operational costs but cannot be relied upon for ongoing operations. The bill requires reallocation of unclaimed funds if a recipient loses their Main Street designation, effective July 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $2M from General Revenue Fund for Main Street program grants, explicitly funding community development initiatives within state budget framework.95% confidence

Sub-Topics Revenue

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passed · Oklahoma · House Feb 26, 2026

HB 2140: Revenue and taxation; Ad Valorem Tax Code; definitions; classifications of property; valuation procedures; effective date.

HB 2140 changes how commercial buildings with unfinished interiors are taxed in Oklahoma. It requires county assessors to value such properties - those sold or leased for the new owner/tenant to complete interiors (e.g., flooring, ceilings) - based solely on the cost of construction materials before interior work, not the full building cost. This applies to commercial buildings constructed without final interior elements like finished walls or cabinetry, affecting property owners and contractors selling or leasing these spaces. The law takes effect January 1, 2026, directly impacting property tax assessments for these specific commercial properties.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces taxable value for commercial properties by excluding interior costs, lowering property tax burden on owners/contractors.95% confidence

Sub-Topics Property Tax

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