HB 2988 Oklahoma House · 2026 Regular Session

Environment and natural resources; Terry Peach North Canadian Watershed Restoration Act; pilot program; definitions; fund; effective date.

HB 2988 creates an income tax credit for Oklahoma landowners who implement specific conservation practices, including removing harmful woody species, improving soil health, or enhancing water efficiency on agricultural land. It directly affects farmers and ranchers who actively practice these conservation methods on their property, allowing them to claim credits of $5-$500 per acre (up to $150,000-$200,000 annually) based on the number of qualifying practices used. The Oklahoma Conservation Commission issues tax credit certificates verifying eligibility, while the program limits annual credits to $3 million total and requires applicants to not have received full cost coverage from other sources. The credit applies to income tax returns for 2027-2030, with certificates processed in order of submission until the $3 million cap is reached.
Bill status signed all 5 stages cleared
Introduction
Feb 2026
Committee Review
May 2026
House Passage
May 2026
Senate Passage
Apr 2026
Signed into Law
May 2026
Introduced Feb 2, 2026 Signed May 11, 2026
Maddy AI version diff · 6 comparisons

What changed between versions

Floor (House) Floor (Senate) · 3 edits
MINOR
The bill was amended to change its official title from the 'Water Restoration Act' to the 'Restoration Act' and to remove the word 'Water' from the name of the revolving fund. Additionally, the committee reporting the bill changed from Appropriations and Budget to Agriculture and Wildlife, indicating a shift in the legislative body overseeing the bill's financial and policy aspects.
Scope change
The scope of the bill's title and fund naming was narrowed by removing the word 'Water', though the operational provisions regarding watershed restoration remain unchanged.
DEFINITION

The bill's title was changed from 'Terry Peach North Canadian Watershed Water Restoration Act' to 'Terry Peach North Canadian Watershed Restoration Act', removing the specific reference to 'Water'.

The name of the funding mechanism was changed from 'North Canadian Watershed Water Restoration Revolving Fund' to 'North Canadian Watershed Water Restoration Revolving Fund' (note: the text actually shows the fund name in Section 3 was modified to remove 'Water' in the House version but the Senate version retains 'Water' in the fund name while removing it from the Act title; however, the primary change is the Act title removal of 'Water').

REQUIREMENT

The committee responsible for reporting on the bill was changed from the Committee on Appropriations and Budget to the Committee on Agriculture and Wildlife.

Floor votes · Senate Apr 23, 2026 · House Mar 11, 2026

How they voted

441
Passed · 5 other
Total votes 50
Apr 23, 2026
D Democratic9
7 Yea 2
77% Yea
R Republican41
37 Yea 1 Nay 3
90% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
34
Key actions
10
Committee
8
Amendments
1
May 11, 2026
Signed into law
Approved by Governor 05/07/2026
lower
May 4, 2026
Committee
Referred for enrollment
lower
May 4, 2026
Lower · Passed
Fourth Reading, Measure passed: Ayes: 79 Nays: 9
lower
May 4, 2026
Lower · Passed
SA's read, adopted
lower
Apr 27, 2026
Upper · Passed
Engrossed to House
upper
Apr 23, 2026
Committee
Referred for engrossment
upper
Apr 23, 2026
Upper · Passed
Measure passed: Ayes: 43 Nays: 1
upper
Apr 23, 2026
Introduced
General Order, Amended
upper
Apr 6, 2026
Committee
Referred to Appropriations
upper
Apr 6, 2026
Upper · Passed
Reported Do Pass as amended Agriculture and Wildlife committee; CR filed
upper
Mar 12, 2026
Introduced
First Reading
upper
Mar 12, 2026
Lower · Passed
Engrossed, signed, to Senate
lower
Mar 11, 2026
Committee
Referred for engrossment
lower
Mar 11, 2026
Lower · Passed
Third Reading, Measure passed: Ayes: 85 Nays: 9
lower
Mar 5, 2026
Lower · Passed
CR; Do Pass, amended by committee substitute Appropriations and Budget Committee
lower
Feb 16, 2026
Lower · Passed
Recommendation to the full committee; Do Pass Appropriations and Budget Natural Resources Subcommittee
lower
Feb 3, 2026
Committee
Referred to Appropriations and Budget Natural Resources Subcommittee
lower
Feb 2, 2026
Introduced
First Reading
lower
2 primary · 0 co-sponsors

Sponsors