Income tax; providing credit for certain Oklahoma National Guard members that purchase a home. Effective date.

SB 288 provides an income tax credit for Oklahoma National Guard members (both Army and Air branches) who purchase a home in Oklahoma. The credit covers up to $4,000 of down payment and closing costs, and is refundable - meaning it can be paid as cash even if the individual owes no income tax. Each person can claim only one credit under this law, and the Oklahoma Tax Commission must create a form for verifying home purchase costs. The credit applies to tax years starting in 2026, with the law taking effect November 1, 2025.