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 No ✗ Opposes 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 No ✗ Opposes 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 No ✗ Opposes Budget & Taxes

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passed · Oklahoma · House Apr 8, 2025

HB 2402: Revenue and taxation; Oklahoma Advanced Manufacturing Incentive Act of 2025; time period; eligibility requirements; collaboration.

HB 2402 would create tax breaks and grants to attract manufacturers of low-temperature waste heat electrification technology (recovering heat below 200°C) to Oklahoma. Companies investing $10 million+ with 50+ new jobs would get up to 30% corporate tax breaks for five years (renewable), while larger investments ($20 million+ with 100+ jobs) qualify for 50% breaks. The state would cap annual spending at $8 million, with unused funds rolling over, and prioritize grants for facilities in economic development zones or energy-sector projects. Manufacturers must meet specific technology standards, submit job/investment plans, and report annually on progress to the Oklahoma Department of Commerce.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides corporate tax breaks (up to 50%) for qualifying manufacturers, advancing tax incentive policy as a fiscal tool.95% confidence ✓ EnergySupports EnergyBill provides tax incentives for waste heat recovery technology, directly promoting energy efficiency and clean energy infrastructure development.90% confidence ✓ EnvironmentSupports EnvironmentBill incentivizes low-temperature waste heat electrification tech (energy efficiency), promoting cleaner manufacturing and reduced emissions through tax breaks for qualifying facilities.85% confidence ✓ TechnologySupports TechnologyBill provides tax breaks/grants for manufacturers of low-temp waste heat electrification technology, directly funding and promoting this specific tech sector.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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passed · Oklahoma · Senate Apr 8, 2025

SB 572: Oklahoma Center for the Advancement of Science and Technology; requiring the cessation of the technology business financing program; directing transfer of remaining funds. Effective date.

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.

Topics ✗ Budget & TaxesOpposes Budget & TaxesDefunds OCAST program by transferring remaining funds to General Revenue Fund instead of program-specific use, ending targeted business innovation funding.92% confidence ✗ TechnologyOpposes TechnologyEnds tech business financing program, transferring funds to General Revenue Fund, defunding innovation support for technology businesses.95% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

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passed · Oklahoma · Senate Mar 27, 2025

SB 48: Income tax; limiting certain capital gains deduction to certain tax years. Effective date.

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.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRestricts capital gains tax deductions, limiting tax benefits and increasing state revenue by closing a deduction loophole per bill's explicit language.95% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

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in committee · Oklahoma · Senate Mar 10, 2025

SB 367: Income tax; modifying calculation of the Oklahoma earned income tax credit. Effective date.

SB 367 modifies Oklahoma's earned income tax credit (EITC) calculation for tax years 2022 through 2025. It sets the state credit at 5% of the federal EITC amount and requires that the maximum credit be prorated based on how much a taxpayer's Oklahoma-adjusted gross income compares to their federal adjusted gross income. This change directly affects low-to-moderate income Oklahoma residents who claim the state EITC on their tax returns. The bill takes effect November 1, 2025.

Topics ✗ Budget & TaxesOpposes Budget & TaxesReduces Oklahoma EITC benefit to 5% of federal credit and prorates max amount, directly weakening tax relief for low-income taxpayers.90% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

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in committee · Oklahoma · Senate Feb 20, 2025

SB 1124: Sinking funds; requiring levy sufficient for timely redemption; prohibiting issuance for certain period if redeemed below par. Effective date.

SB 1124 requires Oklahoma school districts (excluding technology centers) to set property tax levies high enough to fully redeem bonds and pay interest within the originally proposed timeframe. If a bond is redeemed early at a discount (below par), the district must reduce its tax levy to zero for one full tax year and cannot issue new bonds for the same purpose for one year. The State Auditor enforces these rules, and non-compliant districts must transfer 10% of state aid to an education fund, or face limits on future bond issuance. The bill takes effect November 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill enforces fiscal responsibility by mandating sufficient tax levies for bond redemption, penalizing underfunding through levy reductions and bond issuance bans, aligning with promoting fiscal management.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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in committee · Oklahoma · Senate Feb 11, 2025

SB 615: State employee compensation; creating salary limit for certain state employees; providing exemptions. Effective date. Emergency.

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.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCaps state employee salaries, restricting government spending on compensation and fiscal management per bill's explicit salary limit.90% confidence ✗ Labor & EmploymentOpposes Labor & EmploymentBill imposes salary cap limiting most state employee pay to Governor's level, restricting wage growth and compensation for workers.95% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

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in committee · Oklahoma · Senate Feb 10, 2025

SB 736: Income tax; creating the Health Care Sharing Ministry Tax Parity Act; stating certain deduction and procedures; requiring Oklahoma Tax Commission to create forms and guidelines. Effective date.

SB 736 creates the "Health Care Sharing Ministry Tax Parity Act," allowing Oklahoma residents who are active members of qualifying health care sharing ministries (HCSMs) to deduct their contributions from their state income tax starting in 2026. It directly affects Oklahoma residents who have been active HCSM members for at least one month during the tax year, treating their contributions like health insurance premiums for tax purposes. The bill requires the Oklahoma Tax Commission to develop forms for claiming the deduction, prohibits taxing reimbursements from HCSMs, and mandates annual reporting on the program's impact.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax deduction for HCSM contributions, reducing taxable income for qualifying residents - provides tax relief per SUPPORT indicators.90% confidence ✓ HealthcareSupports HealthcareAllows tax deductions for health care sharing ministry contributions, treating them like insurance premiums to expand coverage options for residents.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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