SB 1211 requires manufacturing facilities seeking a property tax exemption to pay new direct jobs an average annual wage meeting Oklahoma's Quality Jobs Program Act standards. This applies to facilities applying for exemption after January 1, 2023, linking tax benefits directly to wage requirements for new hires. The bill updates existing exemption rules by adding this wage verification step, without changing the 5-year exemption period or other basic eligibility criteria. It affects manufacturers aiming to qualify for tax breaks under Oklahoma's ad valorem tax code.
HB 1602 creates tax credits for Oklahoma vehicle manufacturing companies that hire engineers with ABET-accredited degrees. Employers can claim a 50% credit on tuition reimbursement (capped at $5,000 annually) and 5-10% on salaries (capped at $12,500 annually) for the first 4-5 years of employment. Total credits are limited to $3 million annually for employer credits and $2 million for employee credits. The program expires after 2031.
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.
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.
HB 1205 repeals Oklahoma's tax credit for small wind turbine installations by removing Section 2357.32B from the state's tax code. This change directly affects small wind turbine owners and installers who previously qualified for the credit. The repeal takes effect on November 1, 2025, eliminating the tax incentive for new installations after that date. The bill is procedural and does not create new policy, only removing an existing tax provision.
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.
This bill, titled "Mathematics instruction..." but actually amending the Oklahoma Higher Learning Access Program, adjusts financial eligibility rules for students seeking higher education support. It raises income thresholds for program qualification (e.g., $80,000 annually for families with five+ children starting in 2025-2026) and adjusts age limits for participation (extending to age 18 for some applicants). Students must meet updated income requirements and comply with program terms like regular school attendance and avoiding substance abuse to maintain eligibility. The bill directly affects Oklahoma students in grades 5-11 seeking financial aid for post-secondary education through this state program.
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.
HB 2087 modifies Oklahoma's income tax credit for donations to qualified research institutes. It adjusts annual funding caps: for biomedical research institutes, the limit drops from $2 million to $1.5 million per year starting in 2026, while cancer research institute credits are capped at $500,000 annually. The credit percentage for each donation type is recalculated yearly based on prior-year claims, using specific formulas to stay within these new limits. Taxpayers donating to qualifying nonprofit biomedical or cancer research institutes (defined by NIH funding requirements) can claim the credit, with individual limits of $1,000-$25,000 depending on filing status or business type.
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.
