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 · House Apr 10, 2025

HB 1420: State Government; reduction of property owned and leased by the state; exemption; effective date.

HB 1420 requires Oklahoma state agencies to reduce owned and leased property by prioritizing the sale of underutilized state-owned assets, eliminating unnecessary leases, and using existing property instead of new construction. It mandates that all state agencies obtain approval from the Office of Management and Enterprise Services before leasing, purchasing, or constructing new property, with proceeds from sales deposited into a dedicated building maintenance fund. The bill also requires annual public reporting on property sales, lease reductions, and fund usage, while exempting agencies like the Oklahoma Department of Transportation and Turnpike Authority from these requirements. This policy directly affects all state agencies (except the exempted entities) by changing how they manage real estate assets and funding for building maintenance.

Topics ✓ Budget & TaxesSupports Budget & TaxesPromotes fiscal responsibility by requiring sale of underutilized property and redirecting proceeds to maintenance fund, reducing unnecessary state spending on real estate.92% 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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passed · Oklahoma · House Apr 1, 2025

HB 2169: Money wire transmissions; Drug Money Laundering and Wire Transmitter Act; increasing certain fee and percentage amount; effective date.

HB 2169 increases fees for money transmission businesses (like Western Union or MoneyGram) operating in Oklahoma. It requires a $5-$10 fee per transaction under $500, plus 1-2% on amounts over $500, with quarterly payments to the Oklahoma Tax Commission. The fees fund a Drug Money Laundering Revolving Fund, and businesses must notify customers they can claim a tax credit for the fee when filing income taxes. The law takes effect November 1, 2025, and includes enforcement measures like license suspensions for non-compliance.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes transaction fees on money transmitters to fund Drug Money Laundering Revolving Fund, creating new tax revenue stream for specific program.90% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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passed · Oklahoma · House Apr 1, 2025

HB 1604: Revenue and taxation; vehicle excise tax; transfer vehicle ownership; effective date.

HB 1604 updates Oklahoma's vehicle excise tax rules, changing rates for off-road vehicles (4.5% of sale price with a $5 minimum) and adjusting used vehicle tax brackets. It adds a $10 flat fee for heavy trucks (55,000+ pounds), trailers, and frac tanks used for highway transport, while clarifying this tax replaces sales/use taxes for commercial vehicles. The bill also allows tax credits for stolen or defective new vehicles within 90 days (theft) or six months (defect). These changes affect all Oklahoma vehicle buyers, sellers, and commercial truck operators, particularly for off-road vehicles and heavy freight equipment.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill establishes new vehicle tax fees and clarifies tax replacement for commercial vehicles, strengthening state tax collection without targeting middle/lower income.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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passed · Oklahoma · House Apr 1, 2025

HB 2024: Appropriations; creating the Oklahoma Space Renaissance Act; making various appropriations; effective date; emergency.

HB 2024, the Oklahoma Space Renaissance Act, allocates $51.3 million in state funds to support Oklahoma's space industry development. The bill directs $35 million for infrastructure at the Oklahoma Air and Space Port to enable spacecraft testing and launches, and $15 million for a microgravity research consortium focused on commercial science projects in Oklahoma City. It also provides $1.3 million for the Oklahoma Space Industry Development Authority to carry out its duties. The funding is intended for fiscal year 2026, with the bill effective July 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates $51.3M in state funds for space industry infrastructure, research, and authority operations, directly increasing state appropriations for economic development.95% confidence ✓ TechnologySupports TechnologyBill allocates $51.3M to fund Oklahoma's space industry development, including infrastructure and research, directly advancing technology sector.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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passed · Oklahoma · House Apr 1, 2025

HB 1221: Public finance; creating the State Accounts for Federal Expenditures Act (SAFE Act); creating State Accounts; approval; hearings; agency requirements; effective date; emergency.

HB 1221 creates "SAFE Accounts" in Oklahoma’s State Treasury to manage specific federal funds received by state agencies. It requires agencies to seek legislative approval (via concurrent resolution) before accessing funds from competitive grants, federal relief payments, or block grants, and mandates detailed reporting to the Legislature about grant applications and funding purposes. Existing federal programs already managed by agencies as of January 1, 2025, are excluded from these requirements unless they involve competitive grants needing reapplication after November 2025. The bill also establishes deadlines for submitting notices and holding hearings on new federal funding sources, effective July 1, 2025, for block grants and November 1, 2025, for competitive grants.

Topics ✓ Budget & TaxesSupports Budget & TaxesMandates legislative approval and reporting for federal funds, enhancing fiscal accountability and transparency in government spending management.85% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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passed · Oklahoma · House Apr 1, 2025

HB 1760: Revenue and taxation; Equal Opportunity Education Scholarship Act; tax credit; foundations; cap; contribution; eligibility; rules.

HB 1760 creates tax credits for Oklahoma taxpayers who contribute to eligible scholarship-granting or educational improvement organizations. It allows a 50% tax credit (up to $1,000 for individuals, $2,000 for married couples, $100,000 for businesses) on contributions, increasing to 75% for those making a multi-year commitment with written proof. The bill also modifies how credits are allocated to business owners and requires annual financial reporting from participating organizations. These credits are subject to annual caps established by the Oklahoma Tax Commission.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credits (50-75%) for education donations, reducing taxpayer liability and directing private funds toward educational programs via fiscal incentives.90% confidence ✓ EducationSupports EducationCreates tax credits to fund education scholarships, expanding access and increasing private funding for K-12 education through tax incentives.90% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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