HB 1201 creates a 70% tax credit for Oklahoma taxpayers who donate to certified pregnancy resource centers, capping the credit at $50,000 per donor annually. To qualify, centers must provide free, non-abortion services (like prenatal care and counseling) without performing or referring for abortions, and must be certified by the state health director. The total annual tax credits for all donors are capped at $5 million, with annual adjustments to prevent exceeding this limit. The credit applies to donations of $100 or more and takes effect January 1, 2026.
HB 2754 establishes the Oklahoma Rural Hospitals Funding Assistance Grant Program to provide financial support to qualifying rural hospitals. It directly affects publicly owned hospitals in towns with fewer than 5,000 residents that meet federal critical access hospital standards. The program creates a revolving fund in the state treasury, administered by the State Department of Health, to award grants prioritizing areas with significant healthcare access barriers due to distance. Grants are limited to the total funds available in the revolving fund, and the program becomes effective July 1, 2025.
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.
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.
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.
SB 304 modifies Oklahoma's individual income tax structure for the 2024 tax year. It establishes new tax brackets with lower rates (0.25% to 4.75% for single filers, 0.25% to 4.75% for married couples filing jointly) compared to prior years, replacing older rates. The bill also limits certain personal exemptions to specific tax years and adjusts standard deduction amounts. These changes directly affect all Oklahoma residents filing individual income tax returns for 2024. The bill updates statutory references and language but does not create new taxes.
SB 1114 creates a property tax credit for Oklahoma homeowners with qualifying homesteads who meet the existing "limitation on growth of fair cash value" under state law. The credit equals the difference between a homeowner's current year property tax and the prior year's tax, but only if the current tax is lower. County assessors must deduct this credit from the tax bill by October 1 annually, though the credit cannot reduce taxes below zero. The credit applies starting tax year 2026 and is codified in Oklahoma Statutes. It directly affects qualifying homestead property owners by potentially lowering their annual property tax burden.
HB 1539 lowers Oklahoma's individual income tax rates for the 2024 tax year. It reduces the top tax rate from 5.50% to 4.75% for most filers, with new brackets starting at 0.25% on the first $1,000 of income (e.g., 0.75% on the next $1,500 for single filers). The bill affects all Oklahoma residents and nonresidents who file individual income tax returns, applying to taxable income earned in 2024. The change eliminates the previous tiered top rate structure and requires no deduction for federal income taxes paid.
SB 291 creates a refundable income tax credit for Oklahoma residents based on revenue growth from oil, natural gas, and corporate income taxes. If the State Board of Equalization certifies that revenue growth exceeds 10% in a year, the Oklahoma Tax Commission calculates a credit amount using a formula based on the number of individual and married-filing-jointly tax returns from the prior year. The credit is doubled for married couples filing jointly, and the Commission must publish the calculated amount within 45 days of certification. The credit applies to tax years starting in 2026, with a November 1, 2025 effective date.
SB 289 modifies Oklahoma's sales tax exemption period for certain museums, directly affecting those institutions by changing how long they can qualify for tax relief on eligible purchases. The bill amends Section 1356 of Oklahoma's tax code to adjust the duration of the exemption, ensuring museums remain exempt from sales tax on qualifying items used for their operations. This change updates the existing exemption framework without altering other established tax exemptions for government entities, schools, or nonprofits listed in the same section. The bill is designated as an emergency measure to expedite implementation.
