Revenue and taxation; Oklahoma taxable income and Oklahoma adjusted gross income; retirement income; exemption; effective date.

HB 1927 amends Oklahoma's tax code to adjust how taxable income is calculated for state tax purposes. It adds back certain state/local interest income not already exempt, modifies how federal net operating losses are applied, and clarifies rules for allocating income from property (like real estate or investments) based on location. These changes directly affect individual and business taxpayers filing Oklahoma income tax returns. The bill updates technical calculation methods without creating new tax rates or exemptions.