Budget & Taxes

passed both · Oklahoma · House Apr 14, 2025

HB 1539: Revenue and taxation; individual income tax; rates; brackets; revenue determinations; effective date.

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.

Topics ✓ Budget & TaxesSupports Budget & TaxesLowers individual income tax rates for most filers, providing tax relief and reducing the top rate from 5.50% to 4.75%.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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passed · Oklahoma · Senate Apr 10, 2025

SB 291: Income tax credit; providing certain tax credit. Effective date.

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.

Topics ✓ Budget & TaxesSupports Budget & TaxesRefundable tax credit directly provides tax relief to residents, aligning with support indicators for tax relief measures in Budget & Taxes.85% confidence ✓ EnergySupports EnergyBill creates tax credit tied to oil/natural gas revenue growth, directly supporting fossil fuel energy production within energy policy.90% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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passed · Oklahoma · Senate Apr 10, 2025

SB 289: Sales tax; exemptions for governmental and nonprofit entities; modifying period of exemption for certain museums. Emergency.

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.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill extends tax exemption period for museums, providing tax relief under sales tax policy, directly aligning with tax relief indicators.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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passed · Oklahoma · Senate Apr 10, 2025

SB 820: Oklahoma Five Major Sports Leagues Rebate Program Act; expanding sports leagues eligible for incentives. Effective date.

SB 820 expands Oklahoma's sports league rebate program to include the WNBA, WPF, and NWSL, in addition to the existing NFL, NBA, NHL, and MLB. It allows qualifying professional sports teams (with specific payroll and employment thresholds) to receive quarterly rebates based on verified in-state payroll, capped at $10 million annually per team. The rebate requires teams to maintain operations in Oklahoma for eligibility and repay funds if they leave within three years. The bill is currently under review by the Appropriations and Budget Finance Subcommittee.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax rebates for sports leagues, directly impacting tax policy and state spending through a targeted incentive program.90% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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in committee · Oklahoma · Senate Mar 24, 2025

SB 234: Income tax credit; providing credit for certain qualified expenditures on adaptive reuse project. Effective date.

This Oklahoma bill creates a tax credit program to encourage converting old, vacant buildings into housing. Property owners can claim up to 50% of qualified costs (like environmental cleanup, code upgrades, or system repairs) for adaptive reuse projects on structures at least 30 years old that have been vacant or underutilized (with rent below 50% of market rate). The program has a $5 million annual cap on approved credits, with unused funds carried forward to future years. Credits cannot reduce tax liability below zero but may be carried forward for up to 10 years. The Oklahoma Department of Commerce and Tax Commission will administer the program and prioritize projects based on local housing needs.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates income tax credit for property owners, reducing tax liability to incentivize adaptive reuse projects, aligning with tax relief support for housing development.90% confidence ✓ EnvironmentSupports EnvironmentBill explicitly includes 'environmental cleanup' as a qualified cost for tax credits, directly advancing environmental protection through adaptive reuse projects.85% confidence ✓ HousingSupports HousingCreates tax credit for adaptive reuse of vacant buildings into housing with rent below 50% market rate, directly advancing affordable housing development.92% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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in committee · Oklahoma · Senate Feb 24, 2025

SB 231: Sales tax; expanding items eligible for the August sales tax holiday. Effective date.

SB 231 expands Oklahoma's August sales tax holiday to include additional school-related items. It adds school art supplies, school instructional materials (like reference books), and school computer supplies to the list of exempt items, alongside existing clothing, footwear, and sports equipment. The exemption applies to purchases under $100 during the three-day holiday period (first Friday in August to Sunday following). This directly affects students, parents, and schools purchasing these specific educational items during the tax-free window. The bill does not change the existing tax holiday dates or price threshold.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands sales tax holiday for school supplies, providing temporary tax relief for families purchasing essential items, aligning with tax relief for middle/lower income.95% confidence ✓ EducationSupports EducationExpands sales tax exemption for school supplies (art, instructional materials, computers), reducing costs for families/schools purchasing educational resources, directly enhancing access to necessary materials.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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in committee · Oklahoma · Senate Feb 20, 2025

SB 38: Sales and use tax apportionment; modifying apportionment for Oklahoma Historical Society. Effective date. Emergency.

SB 38 modifies Oklahoma's sales tax revenue allocation to provide a fixed annual amount for the Oklahoma Historical Society. It specifies that starting in fiscal year 2026, 0.06% of sales tax revenue will be directed to the Historical Society's Capital Improvement and Operations Revolving Fund, capped at $1,880,553.25 annually. This change directly affects the Historical Society's funding, replacing the previous cap based on 2015 apportionment amounts. The bill does not alter other tax revenue allocations for education, tourism, or general funds.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates 0.06% of sales tax revenue (capped at $1.88M) to Oklahoma Historical Society, providing dedicated funding for its operations. This is a direct budgetary appropriation supporting state program funding.90% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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in committee · Oklahoma · Senate Feb 10, 2025

SB 47: Taxation; modifying special license fee for coin-operated music and amusement devices. Effective date.

SB 47 modifies Oklahoma's annual license fee for coin-operated music and amusement devices, reducing the fee from $75 to $37.50 per machine. It directly affects businesses operating these devices, such as arcades or music machines, by lowering their annual licensing cost. The bill also updates fee structures for other coin-operated devices (like vending machines), clarifies billing for bulk vending devices, and makes statutory language gender-neutral. It specifies that these fees replace applicable sales taxes, and includes provisions for seasonal events like fairs. The changes take effect January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces annual license fee for businesses from $75 to $37.50, providing direct tax relief for affected operators per bill summary.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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died · Oklahoma · Senate Feb 10, 2025

SB 689: Ad valorem tax; modifying payroll requirement for certain industry. Effective date. Emergency.

SB 689 modifies Oklahoma's property tax exemption for qualifying manufacturing facilities by adjusting the minimum investment threshold for eligibility to $500,000 (adjusted annually for inflation via the Consumer Price Index) and adding a new wage requirement. Facilities seeking exemption must now pay new employees an average annual wage meeting Oklahoma Quality Jobs Program standards for the year the property was placed in service. This bill directly affects manufacturing facilities, including those in aircraft repair, computer services, distribution centers, and custom order manufacturing, by changing how they qualify for a five-year property tax exemption. It updates definitions, clarifies payroll requirements, and requires annual publication of the adjusted investment threshold by the Oklahoma Tax Commission.

Topics ✓ Budget & TaxesSupports Budget & TaxesModifies tax exemption criteria to require higher wages/investment, closing potential loopholes and strengthening fiscal management by increasing state revenue from qualifying facilities.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill requires manufacturing facilities to meet wage standards for tax exemption, advancing employment standards through mandatory wage thresholds.85% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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