SB 2051 creates the Oklahoma Research Attraction Program (ORAP), which provides matching state funds to public colleges and universities that receive qualifying private research donations. Eligible institutions (those in Oklahoma's public higher education system) can use these matching grants - funded through a new revolving state fund - to support research activities, faculty recruitment, and student services that boost research capacity. Private gifts must comply with federal foreign investment laws, and unused matching funds can carry over to future fiscal years. The program takes effect November 1, 2026.
SB 1996, the Children's Promise Act, creates a tax credit for Oklahoma taxpayers who donate to qualifying charitable organizations focused on children's welfare. The credit equals 50% of the donation amount (up to the taxpayer's total income tax liability), but donations cannot be deducted from taxable income. Eligible organizations must be Oklahoma-based 501(c)(3) groups with missions like preventing child abuse, supporting adoption, or providing pregnancy assistance, and must certify they do not support or refer for abortions. Taxpayers claim the credit using a specific form, and organizations must verify compliance annually with the Oklahoma Tax Commission.
HB 3775, the "Entertainment District Incentive and Promotion Act of 2026," creates a tax incentive program for businesses operating in designated entertainment districts across Oklahoma. The bill authorizes state tax credits to support economic development in these areas, directly affecting businesses that qualify as part of a designated entertainment district. Key provisions establish the framework for the incentive program, including its effective date of November 1, 2026, and specify the act will not be codified in Oklahoma Statutes. The bill does not detail specific districts or credit amounts but provides the legal foundation for future implementation by state authorities.
HB 3564 increases Oklahoma's homestead property tax exemption for homeowners aged 65 or older with household income at or below three times the state median. The base $1,000 exemption is raised annually by the dollar amount of the home's value increase from the previous year, if the homeowner meets income and age criteria. If income exceeds the threshold or the home's value decreases, the exemption amount remains fixed at the prior year's level until conditions improve. This change takes effect January 1, 2027.
SB 1848 amends Oklahoma's Local Development Act to restrict property tax incentives and exemptions. It prohibits tax breaks for specific businesses, including retail establishments (NAICS codes 518210 and 221114-221117) and certain entertainment venues, while limiting manufacturing facility tax exemptions to a 25-year period. The bill also requires local governments to report annual details on incentive recipients, property values, and expenditures to the Oklahoma Department of Commerce. These changes directly affect local governments administering tax incentives and businesses in designated reinvestment areas.
HB 4172 appropriates $50 million from Oklahoma's General Revenue Fund to the School Security Revolving Fund for the 2026-2027 fiscal year. The funds will support school resource officer programs under existing law (Section 5-148.1 of Title 70). This bill directly affects Oklahoma public schools by providing dedicated funding for security personnel, effective July 1, 2026. The bill is procedural, allocating existing funds without creating new requirements.
SB 1544 redirects $750 million in unused federal pandemic relief funds (from the American Rescue Plan Act) to fund a one-time taxpayer rebate program. It provides eligible Oklahoma residents who filed individual or joint tax returns for 2024 or 2025 with a $250 rebate (or $500 for joint filers), paid via direct deposit or mailed check by June 30, 2026. The bill reclassifies existing federal funds to offset state obligations rather than creating new spending, ensuring compliance with federal guidelines. The Oklahoma Tax Commission administers the program, with oversight by the Joint Committee on Appropriations and Budget, and requires a report to the Legislature and Treasury by March 2026.
HB 3178 changes how farm equipment and tractors are valued for property tax in Oklahoma. It requires county assessors to apply a specific 25% annual depreciation schedule: 75% of original cost in year one, 50% in year two, 25% in year three, and zero value from year four onward. This applies to equipment used in agricultural production on farms owned, leased, or operated by the owner. The bill affects Oklahoma farmers who own qualifying equipment by reducing their property tax burden after three years. It takes effect January 1, 2027.
HB 3088 increases compensation for Oklahoma court reporters and secretary-bailiffs. It sets base annual salaries at $53,000-$75,000 for court reporters and $42,000 for secretary-bailiffs, effective fiscal year 2027. The bill adds longevity payments ($400-$750 per year for service, capped at $8,000-$9,750 annually), equipment allowances ($3,000-$4,000 yearly), and $2,000 annual bonuses for certified reporters (RPR, RMR, RDR, CRR) based on specific speed and continuing education requirements. These changes directly affect court reporters in district courts, Workers’ Compensation Court, and the Corporation Commission, as well as secretary-bailiffs in district and business courts.
HB 3942 requires Oklahoma's Incentive Evaluation Commission to annually assess state economic incentives (like tax credits or grants) from 2024 onward. It mandates a schedule for evaluating all incentives based on fiscal impact and goals, with exemptions only for minimal-cost programs. Each evaluation must analyze the incentive's economic impact, effectiveness, alignment with state priorities, and recommendations for retention or changes. The Commission must report findings to lawmakers and the public by December 15 each year, including cost estimates, goal achievement, and suggestions for policy improvements. This directly affects state agencies administering incentives and lawmakers reviewing their value.
