HB 3625 amends Oklahoma law governing school district financial management. It requires school districts to maintain separate ledgers for each fund and investment, sets a maximum bond amount for school district treasurers (not exceeding the county treasurer's bond), and mandates a written investment policy prioritizing safety and liquidity. The bill restricts school district investments to U.S. government securities, state obligations rated A+ or better, insured certificates of deposit, and other specified low-risk instruments. These changes standardize financial oversight for school district funds while limiting investment options to protect public money.
HB 3463 requires Oklahoma cities and towns with $50,000+ annual revenue (excluding federal grants and certain utility trust income) to conduct annual financial audits or a simplified biennial review. Smaller municipalities (under 2,500 residents) may opt for the biennial review instead of full audits. If they miss filing deadlines, the state withholds their monthly gasoline tax payments until compliance, with unfiled funds transferred to a special audit fund after two years. The bill applies directly to local governments managing significant public funds.
SB 1937 prohibits employers who engage in specific labor practices from receiving Oklahoma's economic development incentives (such as grants, loans, or tax credits). It directly affects employers seeking these incentives by banning: (1) granting union recognition based solely on signed cards instead of secret ballot elections, (2) sharing employee contact information without consent, (3) signing neutrality agreements with unions, and (4) requiring subcontractors to violate these rules. Employers found violating these provisions must repay all incentives received for the project. The bill exempts existing agreements before its November 1, 2026, effective date and employers with current collective bargaining agreements.
HB 3024 establishes a 10% annual cap on salary increases and bonuses for most state employees in executive branch agencies, requiring cabinet secretary approval for any increase exceeding this limit. It mandates that agencies set performance metrics for bonus eligibility and document salary adjustments above 10% due to role changes or performance reviews. The bill excludes executive directors, positions requiring advanced degrees or state licenses (like doctors and engineers), and employees of higher education systems or school districts from these limits. These provisions take effect July 1, 2026, with the Office of Management and Enterprise Services overseeing implementation.
This proposed constitutional amendment (HJR 1046) would add a 100% property tax exemption for primary residences in Oklahoma damaged or destroyed by qualifying weather events (like tornadoes, hail, or high winds). It directly affects homeowners whose primary residence becomes uninhabitable due to such events, exempting the full assessed value of the property from ad valorem taxes during the tax year of damage (or the following year if damage occurs after June). The exemption applies only to properties deemed "uninhabitable" and unable to be safely occupied for residential use. This amendment requires voter approval through a legislative referendum before taking effect.
HB 3942 requires Oklahoma's Incentive Evaluation Commission to annually assess state economic incentives (like tax credits or grants) from 2024 onward. It mandates a schedule for evaluating all incentives based on fiscal impact and goals, with exemptions only for minimal-cost programs. Each evaluation must analyze the incentive's economic impact, effectiveness, alignment with state priorities, and recommendations for retention or changes. The Commission must report findings to lawmakers and the public by December 15 each year, including cost estimates, goal achievement, and suggestions for policy improvements. This directly affects state agencies administering incentives and lawmakers reviewing their value.
HB 3976 establishes a grant program under Oklahoma's State Department of Health to help rural and small hospitals open new facilities or keep existing ones open by funding infrastructure, equipment, or technology needs. Hospitals applying must contribute at least 20% of project costs through cash or in-kind donations. The program will be funded through a new revolving fund in the state treasury, which replenishes itself and can be used continuously without annual budget limits.
HB 4340 would add a sales tax exemption for the sale of "frack water" (wastewater from oil and gas extraction) in Oklahoma. This exemption would directly affect oil and gas companies and vendors selling this wastewater, eliminating the sales tax on such transactions. The bill amends Oklahoma's sales tax code to include this specific exemption under existing tax exemption categories. The policy change would reduce tax burdens for businesses involved in handling oil and gas extraction wastewater. The bill is currently pending in the Appropriations and Budget Natural Resources Subcommittee.
This bill proposes a constitutional amendment (HJR 1081) that would eliminate the income requirement for Oklahoma seniors to qualify for a property tax limit on their homesteads. Currently, seniors aged 65+ must meet an income threshold based on HUD median income for their area; this amendment removes that requirement while keeping the age, 7-year occupancy, and $700,000 property value cap. It would apply only to homesteads valued at $700,000 or less, with the tax limit frozen at the value when the owner turned 65 (or January 1, 1997, for those already eligible before 1997). The change requires voter approval via a ballot measure.
HB 4178 amends Oklahoma's sales tax code to add new exemptions for specific public entities and activities. It creates a new exemption allowing sales tax-free admission ticket surcharges used solely to repay debt for constructing athletic facilities, theaters, or cultural venues at public universities. The bill also expands existing exemptions for sales to certain public trusts, county fairs, educational institutions, and public authorities carrying out construction contracts. These changes directly affect state universities, local government entities, and fair authorities by reducing their taxable purchases. The policy focuses on clarifying and broadening tax relief for public infrastructure projects and nonprofit activities.