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.
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.
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.
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.
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.
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.
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.
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.
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.
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).
