Rep. Cody Maynard

Maddy summaryHB 1203, the "Strategic Bitcoin Reserve Act," would allow Oklahoma's State Treasurer to invest up to 10% of three specific state funds (the State General Fund, Revenue Stabilization Fund, and Constitutional Reserve Fund) in Bitcoin or digital assets with a market cap exceeding $500 billion, plus approved stablecoins. It requires all investments to be held through secure custody solutions (like encrypted government-controlled storage) or qualified custodians, and mandates that stablecoins must have regulatory approval from U.S., U.K., Japanese, or EU authorities. The bill also specifies that taxes paid to the state in Bitcoin would be converted to U.S. currency and deposited into the State General Fund. This would directly affect how state funds are managed and invested, with no current implementation as the bill failed committee review in April 2025.

Maddy summarySB 817 requires local governments and trusts issuing bonds for their benefit to publicly disclose specific details about bond projects, previous bond usage, and unfinished bonds at least 30 days before a bond vote. This applies to counties, cities, school districts, and other local entities covered under Oklahoma's bond laws. The bill mandates that this information be posted on the government's website or made accessible online, including physical addresses for property purchases. Non-compliant entities are prohibited from issuing new bonds until they meet these transparency requirements.

Maddy summarySB 817 requires local governments in Oklahoma to publicly disclose detailed information about bond projects 30 days before a vote, including project descriptions, unfinished bond history, and previous bond usage (with physical addresses for property purchases). It specifically applies to bonds issued by trusts for local government benefit (e.g., counties, cities, school districts), expanding transparency beyond direct municipal bonds. Local entities failing to publish this information cannot issue new bonds until compliance is achieved. The bill takes effect November 1, 2025.

Maddy summarySB 60 updates Oklahoma's rules for calculating taxable income for corporations and individuals. It modifies how income from different sources - like property, business activities, and net operating losses - is allocated to determine state tax liability. Specifically, it adjusts rules for deducting federal net operating losses and allocates income from intangible property or manufacturing sales based on specific factors. This bill affects Oklahoma taxpayers who file state income tax returns, ensuring alignment with federal tax code references.

Maddy summarySB 60 modifies how Oklahoma calculates taxable income for businesses and individuals by updating rules for allocating income and handling net operating losses. It specifically adjusts how businesses can carry forward or back losses for tax years beginning after 2007, aligning Oklahoma's rules more closely with federal tax code while keeping state-specific terms. The bill affects Oklahoma taxpayers with income from multiple states, particularly those with cross-state operations or net operating losses. Key changes include clarifying how income from property (real or intangible) is allocated and updating loss carryover rules to match federal timelines. These adjustments ensure Oklahoma's tax calculations remain consistent with current federal standards.

Maddy summarySB 92 creates a state-funded program to provide competitive loans for water and wastewater infrastructure projects in Oklahoma. Eligible entities, such as municipal water systems, can apply for loans to address critical infrastructure needs, with projects ranked based on factors like urgency, conservation efforts, and matching funds. The bill requires loan recipients to repay funds if they fail to complete projects (clawback provision) and mandates public tracking of projects via an interactive map. Funds are allocated specifically: 25% for large cities (over 400,000 people), 25% for mid-sized areas (30,000-400,000), and 50% for smaller communities. The program is funded through a dedicated revolving fund managed by the Oklahoma Water Resources Board.

Maddy summarySB 33 authorizes Oklahoma's State Treasurer to create, operate, or contract for a bullion depository (holding gold and silver) and issue transaction cards to Oklahoma citizens. Account holders can use these cards for purchases debited against their gold/silver deposits, which the bill defines as legal tender - distinct from commodities. The Treasurer must establish fee structures for depository services and develop procedures for sharing account information with depository partners. This bill directly affects Oklahoma residents who choose to use the depository service, with implementation effective November 1, 2025.

Maddy summarySB 33 authorizes Oklahoma's State Treasurer to create or contract for a gold and silver bullion depository, allowing eligible Oklahoma citizens to store physical precious metals. The bill establishes transaction cards that debit against stored gold/silver balances for purchases, treating these deposits and transactions as legal tender (not commodities) under state law. It requires the Treasurer to develop a fee structure for account holders and outline procedures for sharing account information with depositories. This directly affects Oklahoma residents who open accounts in the depository system, enabling them to use stored precious metals for everyday transactions.

Maddy summaryHB 1198 adds a $1,000 property tax break for Oklahoma homeowners with household income under $30,000 annually. It directly affects low-income primary homeowners (defined as those maintaining a home and providing for household necessities) by exempting $1,000 of their property's assessed value from taxes. Homeowners must apply yearly by March 15 (or within 30 days of a valuation notice) and certify income, which includes most earnings like Social Security but excludes veterans' benefits and pandemic relief payments. Seniors aged 65+ who previously qualified do not need annual applications but must report income exceeding $30,000 to maintain the exemption.

Maddy summaryHB 1198 adds a $1,000 homestead exemption for Oklahoma homeowners who are heads of household and have gross household income under $30,000 annually. It defines "gross household income" broadly to include most income types (like Social Security and pensions) while excluding veterans' benefits and certain COVID-19 relief payments. Homeowners must apply yearly by March 15 (or within 30 days of a valuation notice) to claim the exemption, but seniors 65+ who already qualify do not need to reapply annually unless their income exceeds $30,000. The law takes effect November 1, 2025.