Budget & Taxes

signed · Oklahoma · Senate May 12, 2025

SB 301: Income tax; modifying credit limit for certain institute in certain tax years. Effective date.

SB 301 modifies Oklahoma's tax credit system for donations to biomedical and cancer research institutes. It reduces annual credit limits to $1.5 million for biomedical research donations and $500,000 for cancer research donations starting in 2026, down from $2 million previously. Donors to qualifying institutes (which must receive $20 million annually in NIH funding for biomedical or $4 million for cancer research) will face new caps: $25,000 for business donors to biomedical institutes, and $1,000-$2,000 for individual filers depending on filing status. The bill adjusts how credit percentages are calculated using the second preceding year's claims and ensures credits cannot exceed tax liability.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill reduces tax credit limits for research donations, restricting tax incentives and increasing state revenue by limiting donor benefits.90% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

signed · Oklahoma · House May 7, 2025

HB 1372: Revenue and taxation; gross production tax; limited exemption for production from certain wells; surety; effective date; emergency.

HB 1372 temporarily lowers the gross production tax rate for oil and gas from existing wells (spudded before the law's effective date) to 5% for 36 months, instead of the standard 7%. It also creates two new tax exemptions: 1) 5 years of tax-free production for secondary/tertiary recovery projects approved after July 2022, and 2) a 24-month tax exemption for wells using recycled water (proportional to recycled water usage). For orphaned wells, producers must post a $25,000 surety bond per well to qualify for a 50% tax reduction for 36 months. The bill sets annual refund limits of $15 million for recovery projects and $10 million for recycled water exemptions, requiring producers to apply for refunds through the Tax Commission.

Topics ✗ Budget & TaxesOpposes Budget & TaxesReduces tax rates (7%→5%) and creates exemptions for oil/gas producers, weakening state tax revenue collection.95% confidence ✗ EnergyOpposes EnergyBill provides tax breaks for oil/gas production, favoring fossil fuels over renewables, opposing clean energy transition through targeted exemptions.85% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

passed · Oklahoma · House Apr 28, 2025

HB 2087: Revenue and taxation; income tax credit; research institutes; effective date.

HB 2087 modifies Oklahoma's income tax credit for donations to qualified research institutes. It adjusts annual funding caps: for biomedical research institutes, the limit drops from $2 million to $1.5 million per year starting in 2026, while cancer research institute credits are capped at $500,000 annually. The credit percentage for each donation type is recalculated yearly based on prior-year claims, using specific formulas to stay within these new limits. Taxpayers donating to qualifying nonprofit biomedical or cancer research institutes (defined by NIH funding requirements) can claim the credit, with individual limits of $1,000-$25,000 depending on filing status or business type.

Topics ✗ Budget & TaxesOpposes Budget & TaxesReduces annual tax credit caps for research institutes, restricting tax benefits and limiting government spending on these credits.95% confidence ✗ HealthcareOpposes HealthcareReduces funding caps for biomedical/cancer research institutes, limiting tax credit support for healthcare research through lower annual donation limits.85% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

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passed · Oklahoma · House Apr 28, 2025

HB 1848: Revenue and taxation; income tax credit; childcare expenses; childcare services; definitions; effective date.

HB 1848 creates an Oklahoma income tax credit for employers that covers up to 30% of eligible childcare expenses for employees' children aged 5 or younger. Qualifying expenses include direct childcare assistance, operating a childcare facility for employees, or reserving spots at a licensed childcare facility. The credit is capped at $30,000 per employer annually and $5 million statewide per fiscal year, and applies to tax years 2026 through 2030. This policy aims to reduce childcare costs for working families by incentivizing employer-supported childcare solutions.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates income tax credit for childcare expenses, providing tax relief to employers and employees while capping state fiscal impact.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill provides tax credit for employer childcare expenses, reducing costs for working parents and supporting workforce participation in employment standards.90% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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passed · Oklahoma · House Apr 28, 2025

HB 2019: Revenue and taxation; income tax credit; aerospace industry; effective date.

HB 2019 amends Oklahoma's tax code to create two new tax credits for the aerospace industry. It allows Oklahoma aerospace employers to claim a credit equal to 5-10% of wages paid to employees with Oklahoma degrees (up to $12,500 annually), and employees to claim up to $5,000 annually in tax credits for tuition reimbursement (capped at $5,000 total over five years). Both credits apply only to the first five years of employment and cannot reduce tax liability below zero. The bill extends these credits through 2032 (previously 2026) and takes effect November 1, 2025. It directly affects Oklahoma aerospace companies and their employees who meet the education and employment criteria.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates targeted tax credits for aerospace employers and employees, reducing tax liability and aligning with tax relief indicators for workforce development.95% confidence ✓ EducationSupports EducationProvides tuition reimbursement tax credits (up to $5,000 annually, capped at $5,000 total over five years) for employees, directly supporting higher education access.80% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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passed · Oklahoma · House Apr 28, 2025

HB 1540: Appropriations; Oklahoma Workforce Education Partnership Revolving Fund; effective date; emergency.

HB 1540 creates the Oklahoma Workforce Education Partnership Revolving Fund within the State Treasury to support career and technology education programs. The fund, managed by the Oklahoma Department of Career and Technology Education (ODCTE), will use state appropriations, gifts, and donations to expand career tech education based on critical occupation data. It operates as a reusable fund (replenished by incoming revenue) until July 1, 2030, with expenditures requiring state treasurer warrants. The bill directly affects ODCTE's ability to fund workforce training programs, aiming to align education with local job market needs.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates state fund for career tech education via appropriations, expanding essential workforce programs through government spending, directly advancing budget allocation for public services.90% confidence ✓ EducationSupports EducationCreates fund to expand career tech education programs, increasing funding and access for workforce training within education system.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentFunds career tech education programs to align with critical occupations, enhancing workforce development and employment opportunities through dedicated state funding.90% confidence ✓ TechnologySupports TechnologyFunds career and technology education programs to develop workforce skills in tech fields, directly advancing technology sector workforce development.90% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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passed · Oklahoma · House Apr 23, 2025

HB 1220: Cities and towns; prohibiting imposition of certain taxes and fees on certain bond revenue; municipal taxation; conforming language; emergency.

HB 1220 prohibits Oklahoma cities and towns from imposing franchise fees or sales/use taxes on specific revenue streams used by utilities to repay private financing. It directly affects electric cooperatives and other utilities that used private financing under the February 2021 Utility Consumer Protection Acts to avoid immediate cost burdens on customers. The bill defines "securitization revenue streams" as rates and charges solely for repaying such private loans, and bans local taxes on these streams for bonds issued by the Oklahoma Development Finance Authority under those acts. This prevents municipalities from taxing revenue dedicated to repaying utility loans structured to protect consumers from upfront costs.

Topics ✗ Budget & TaxesOpposes Budget & TaxesProhibits local taxes on utility repayment revenue, restricting municipal tax authority on specific revenue streams per bill language.90% confidence ✓ EnergySupports EnergyPrevents local taxes on utility repayment funds, protecting consumers from cost increases under the 2021 Utility Consumer Protection Acts.85% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

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passed · Oklahoma · House Apr 21, 2025

HB 2407: State government; creating the Main Street Grant Program Revolving Fund; Department of Commerce; requirements to qualify; effective date; emergency.

HB 2407 creates a $2 million revolving fund in the Oklahoma State Treasury, managed by the Department of Commerce, to provide grants for qualifying Main Street programs. To receive funding, a Main Street must first be designated by Oklahoma's Main Street Program, maintain that designation, and submit annual proof of eligibility. The grant funds, appropriated from the General Revenue Fund for fiscal year 2026, may be used for operational costs but cannot be relied upon for ongoing operations. The bill requires reallocation of unclaimed funds if a recipient loses their Main Street designation, effective July 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $2M from General Revenue Fund for Main Street program grants, explicitly funding community development initiatives within state budget framework.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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passed · Oklahoma · House Apr 21, 2025

HB 1092: Revenue and taxation; Oklahoma Trade School Tuition Tax Credit; income tax credit; trade schools; effective date.

HB 1092 creates a $7,500 annual tax credit for Oklahoma residents who complete qualifying trade or vocational programs (such as HVAC, plumbing, or welding training) at approved Oklahoma schools. The credit, available for taxable years starting January 1, 2026, offsets income tax liability up to the actual tuition cost paid (whichever is lower), but cannot reduce tax below zero. Unused portions may carry forward for up to three years, and the credit can only be claimed once per individual after receiving program certification. This policy directly supports Oklahoma residents pursuing in-demand technical careers by reducing the cost of vocational education.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates targeted income tax credit for trade school tuition, reducing tax burden for qualifying residents - aligns with tax relief for middle/lower income education expenses.95% confidence ✓ EducationSupports EducationBill creates tax credit for trade school tuition, increasing access to vocational higher education and reducing student costs for approved programs.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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passed · Oklahoma · House Apr 17, 2025

HB 2745: Revenue and taxation; banking privilege tax; deductions; effective date.

HB 2745 creates new tax deductions for Oklahoma banks and credit unions that earn interest on qualifying agricultural and housing loans. It allows institutions to deduct up to $500,000 annually (for those with over $750 million in Oklahoma deposits) or $250,000 (for smaller institutions) from their privilege tax bill. The deductions apply to interest earned on agricultural real estate loans, agricultural operating loans, and single-family residence loans made between 2025 and 2028. Total deductions across all institutions are capped at $5 million per year, with annual adjustments to maintain this limit.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill creates tax deductions for large banks/credit unions, reducing government revenue via privilege tax breaks, aligning with 'tax breaks primarily for wealthy'.95% confidence ✓ HousingSupports HousingCreates tax deductions for banks making qualifying housing loans (single-family residences), incentivizing lending to advance housing development and affordability.90% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

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