Revenue and taxation; Health Care Sharing Ministry Tax Parity Act; definitions; income tax deduction; effective date.

HB 1473 creates tax parity for Health Care Sharing Ministries (HCSMs) in Oklahoma by allowing residents to deduct qualifying HCSM expenses from their state income tax. It directly affects Oklahoma residents who are active members of an HCSM for at least one month during the tax year, including self-employed individuals, employees with employer-paid HCSM contributions (treated as tax-free benefits), and those paying for themselves or dependents. The bill establishes a deduction from adjusted gross income for qualifying expenses, requires documentation to claim the deduction, and specifies that funds received from HCSMs for medical costs are tax-free. Penalties include repayment of improperly claimed taxes, $500 fines per offense, and a three-year ineligibility period for fraud. The law takes effect for tax years beginning January 1, 2026.