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.
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.
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.
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.
SB 572 ends Oklahoma's technology business financing program, which previously provided funding to help local businesses commercialize innovations. The bill requires all remaining program funds and annual royalty payments (from businesses that received funding) to be transferred to the state's General Revenue Fund by November 1, 2025. This affects OCAST (the Oklahoma Center for the Advancement of Science and Technology), businesses that had received program funding, and state finances. The program officially ceases upon the bill's effective date, redirecting all unused funds to general state revenue.
SB 48 limits when Oklahoma taxpayers can deduct certain capital gains from their state income tax. It specifically restricts the deduction for "qualifying gains receiving capital treatment" to only certain tax years, affecting individuals and businesses with capital gains transactions. The bill amends Oklahoma's tax code (68 O.S. 2021, Section 2358) to update the rules governing these deductions, ensuring they align with specific tax year parameters. This change modifies how capital gains are treated for state tax purposes without altering federal tax rules.
SB 90 provides a 5% benefit increase for retirees in several Oklahoma public employee retirement systems, including firefighters, police officers, judges, law enforcement, teachers, and general public employees. This applies to those receiving benefits as of June 30, 2025, and continuing to receive them after the bill's effective date (July 1, 2026). The bill includes offset provisions for certain pre-1981 retirees: their increases may be partially reduced based on changes to firefighter or police officer base salaries. The policy directly affects current retirees in these specific systems without altering the core benefit structure for most recipients.
SB 174 increases retirement benefits for Oklahoma teachers currently receiving payments from the Teachers’ Retirement System as of June 30, 2025. It provides a 0% increase for retirees with less than two years of retirement, 2% for those retired two to five years, and 4% for retirees with five or more years of retirement as of that date. The bill directly affects current retirees based on their retirement duration, not new retirees. Benefits are calculated as of June 30, 2025, and apply to those continuing to receive payments after the law takes effect. The bill codifies this benefit structure into Oklahoma Statutes.
SB 164 authorizes the Oklahoma Lottery Commission to implement and regulate sports betting pools, directly affecting licensed retailers and the commission itself. It creates new licensing criteria for businesses offering sports pools (wagering on sports outcomes via in-person or mobile platforms), requires licensing fees, and mandates annual reports and audits. The bill establishes a dedicated "Sports Pools Fund" to channel revenue from these bets into the state's education funding system, replacing previous prohibitions on such betting. This policy change expands the lottery's offerings beyond traditional games, adding a new revenue stream for educational programs while setting specific operational rules.
SB 615 sets a salary cap for most Oklahoma state employees, limiting annual pay to no more than the Governor's salary (as defined in state law) starting July 1, 2025. It directly affects most state workers, excluding two key groups: higher education staff (including university officials under the State Regents) and licensed healthcare professionals (like doctors and nurses) working for state agencies. The bill requires state departments to seek legislative approval via joint resolution for any compensation exceeding the Governor's salary, though exemptions for the listed groups remain automatic. This creates a clear, enforceable limit on executive branch pay without altering existing salary structures for exempted roles.
