Revenue and taxation; expanding requirement for certain eligible qualifying projects placed in service after certain date. Effective date.

SB 923 modifies Oklahoma's Affordable Housing Tax Credit program by increasing the annual credit cap to $15 million for 2026-2030 (from $4 million previously) and requiring new projects placed in service after January 1, 2026, to qualify as "workforce housing" (housing for households earning 60-120% of local median income). It makes the tax credit nonrefundable (cannot reduce tax below zero), ties Oklahoma credits to federal low-income housing credit recapture rules, and mandates eligibility statements from the Oklahoma Housing Finance Agency. The bill directly affects developers of qualifying affordable housing projects who seek to claim these tax credits, effective January 1, 2026.