SB 1319 creates a dedicated "Corporation Commission Plugging Fund" to address environmental and safety issues from oil and gas operations. The fund must maintain $5 million, with additional taxes collected if it falls below this level until replenished (effective until July 2031). It establishes a new program allowing homeowners contaminated by brine or oil from *abandoned wells* (as defined by law) to apply for financial assistance from the fund without needing prior insurance claims. The Corporation Commission will determine assistance amounts and create rules to manage applications and verify contamination sources.
SB 2139 requires Oklahoma municipalities to amend property plats to remove discriminatory language (such as racial or religious restrictions) that violate the Fair Housing Act. It directs county clerks to erase such language from existing property records after a municipality passes an ordinance, without needing property owner approval. The bill affects neighborhoods with outdated discriminatory covenants in their recorded plats. It becomes effective November 1, 2026.
HB 4305 modifies how county assessors value affordable housing properties in Oklahoma. It requires assessors to base fair cash value on projected income during construction/lease-up and adjust yearly using net income changes for stabilized properties. If such a property is sold without its affordable housing restrictions, an additional tax is imposed equal to the difference between taxes paid under this method and what would have been paid at the sale price. This tax must be paid by the property owner within 20 days of receiving written notice from the county assessor after the sale.
This bill helps Oklahoma homeowners displaced by turnpike construction by matching their new property tax burden to what they paid on their previous home. For the first three tax years after moving, eligible homeowners get an extra tax exemption equal to the difference between their old home's tax bill and their new home's tax bill. It applies specifically to those who owned a home purchased by the state's Department of Transportation for a turnpike project and now claim a new homestead exemption. The exemption begins for tax year 2027 and lasts three years.
SB 1829 exempts manufactured home owners in Oklahoma from paying the state's excise tax if they provide proof of current year property tax payment. It directly affects individuals purchasing or owning manufactured homes who already pay ad valorem (property) tax, requiring them to submit a Manufactured Home Certificate (OTC Form 936) or equivalent proof. The bill amends tax law to replace the standard excise tax calculation (based on 50% of retail price for new homes) with this exemption for qualifying homeowners. The law takes effect November 1, 2026.
SB 1858 allows Oklahoma cities and counties to require property owners in designated development zones to enter binding agreements guaranteeing payments for project financing. These payments can secure bonds issued for development costs, with the property itself serving as collateral through liens that take priority over mortgages (but not existing tax liens). The bill ensures such bonds don't count as general municipal debt, limiting repayment solely to the agreed payments and project revenues. Property owners in these designated areas would face direct financial obligations under these agreements, while public entities act as conduits without assuming broader debt liability.
SB 1393, the RESTORE Act, creates a 50% tax credit for developers converting old, vacant commercial buildings (over 50 years old, vacant for 3+ years, and not eligible for historic tax credits) into residential housing. It directly affects property owners or developers who undertake "adaptive reuse" projects, covering extra renovation costs like environmental cleanup, code compliance, and infrastructure upgrades. The credit is capped at $5 million annually (2027-2037), requires 20% of units to be affordable for 10 years, and allows unused credit to carry forward to future tax years. Projects must meet specific affordability and location criteria, with annual reports tracking housing units and economic impact.
HB 2147 creates a new legal process for Oklahoma municipalities to place liens on non-owner-occupied properties for unpaid housing and building code violations, including fines, penalties, and enforcement costs. The bill allows cities to enforce these liens through judicial foreclosure, requiring property owners to pay the full "lien payoff" (including interest and fees) to avoid losing the property. It specifically excludes owner-occupied homes (such as homesteads or properties occupied by residents) from this enforcement. Municipal code liens rank above most other property claims but below tax liens, and the law establishes clear redemption procedures for owners seeking to retain their property.
SB 877 requires Oklahoma real estate licensees (brokers and sales associates) to complete continuing education on "deed theft" prevention by November 1, 2028. It defines "deed theft" as fraudulently altering property documents, misrepresenting ownership, or stealing property through deception. The bill also mandates that brokers provide written notification about deed theft risks to buyers at closing, requiring buyers to sign a confirmation of receipt. This law, effective November 1, 2025, directly affects real estate professionals and homebuyers by adding education requirements and transparency measures to combat property fraud.
SB 251 expands eligibility for Oklahoma county mental health and substance abuse funding to include employment, education, and housing programs alongside existing treatment services. It requires the state to allocate at least 0.5% of total funds to each county government or multi-county partnership applying for grants. The bill also mandates annual reports to legislative leaders detailing funding distribution and services provided. These changes aim to broaden community-based support options while ensuring minimum funding for all participating counties.
