HB 3433 Oklahoma House · 2026 Regular Session

Revenue and taxation; in lieu taxation; farm tractors; machinery; equipment; apportionment; repealer; effective date.

HB 3433 replaces the regular property tax on farm tractors and heavy agricultural equipment with a fixed $15 annual fee. It directly affects Oklahoma farmers who own qualifying equipment used in crop or livestock production. The fee must be paid to county treasurers at the same time as other property taxes, and the revenue will be distributed the same way as the previous tax. The bill repeals the existing law (Section 2809) governing farm tractor taxation.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2026

Committee Review

Floor Vote

Governor

Introduced Feb 2, 2026 Last action Feb 19, 2026

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What changed between versions

Introduced → Proposed Committee Substitute (full committee) 1 · 3 edits

MINOR

This bill was amended to replace the original version with a committee substitute that clarifies the tax treatment of farm tractors. The main change is the addition of a requirement that the fair cash value of farm tractors cannot exceed the value determined by federal income tax depreciation schedules, starting in 2028. The effective date was also changed from November 1, 2026 to January 1, 2028.

Scope change

The scope of the bill remains focused on farm tractor taxation, but the applicability of the valuation method was expanded to include federal depreciation schedules as a cap on fair cash value calculations.

REQUIREMENT

Added a requirement that the fair cash value of farm tractors shall not exceed the value computed using federal income tax depreciation schedules.

TIMELINE

Changed the effective date of the act from November 1, 2026 to January 1, 2028.

TECHNICAL

Modified the title and section headers to reflect the committee substitute format and updated the bill reference number from 15901 to 16635.

Floor votes

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Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 19, 2026

Lower · Passed

Recommendation to the full committee; Do Pass Appropriations and Budget Finance Subcommittee

lower

Feb 3, 2026

Committee

Referred to Appropriations and Budget Finance Subcommittee

lower

Feb 2, 2026

Introduced

First Reading

lower

2 primary · 0 co-sponsors