Constitutional amendment; providing credit for owners of property that qualify for certain limitation on the growth of fair cash value.
Senate Bill 1114 establishes a new ad valorem (property) tax credit for owners of homestead properties in Oklahoma. This credit applies to properties that qualify for a state constitutional limitation on the growth of their fair cash value. The credit amount is calculated as the difference between the prior year's tax liability and the tax liability in the first year the owner qualified for the growth limitation. Property owners must claim this credit annually by October 1st, and it cannot reduce their tax liability below zero. This measure will apply to tax years 2026 and subsequent years, taking effect on November 1, 2025.
Bill status
passed
3 of 5 stages cleared
Introduction
Feb 2025
Committee Review
Apr 2025
Senate Passage
Mar 2025
House Passage
Governor
Introduced Feb 3, 2025
Last action Apr 15, 2025
Maddy AI version diff · 4 comparisons
What changed between versions
Floor (House)
→
Floor (Senate)
·
3 edits
MINOR
The bill was amended to change the header from House to Senate floor version, add a committee substitute designation, and update the act title to reflect Senate floor procedures. The substantive constitutional amendment text regarding property tax credits for seniors appears unchanged in content, though formatting and page headers were updated to reflect Senate floor processing.
Scope change
The bill's substantive scope remains unchanged; only the version designation and formatting were modified to reflect Senate floor processing.
TECHNICAL
Header changed from 'HOUSE OF REPRESENTATIVES' to 'SENATE FLOOR VERSION' with updated date and committee substitute designation.
Act title updated to reflect Senate floor procedures and committee substitute status.
Page headers and footers updated to show Senate floor version with page numbers and bold face notation for committee amendments.
Floor votes
How they voted
This bill passed the Senate by voice vote (no roll call recorded).
Full legislative history
Actions timeline
Total actions
15
Key actions
4
Committee
3
Apr 15, 2025
Lower · Passed
CR; Do Pass, as amended, Rules Committee
lower
Mar 26, 2025
Introduced
First Reading
lower
Mar 26, 2025
Upper · Passed
Engrossed to House
upper
Mar 25, 2025
Committee
Referred for engrossment
upper
Mar 25, 2025
Upper · Passed
Measure passed: Ayes: 37 Nays: 9
upper
Mar 3, 2025
Upper · Passed
Reported Do Pass, amended by committee substitute Revenue and Taxation committee; CR filed
upper
Feb 3, 2025
Introduced
First Reading
upper
2 primary · 0 co-sponsors
Sponsors
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