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

SB 288 creates a state income tax credit for Oklahoma National Guard members who buy a home in Oklahoma. It allows eligible members to claim a credit equal to their down payment and closing costs, up to $4,000, for tax years 2026 and later. The credit is refundable (meaning it can be paid even if the member owes no state tax) and limited to one claim per person. To claim the credit, members must submit proof of purchase costs using a form provided by the Oklahoma Tax Commission. This policy directly affects Oklahoma National Guard members purchasing residential property within the state.