HB 3961 creates the "Oklahoma Affordable Housing Tax Credit Policy Act of 2026," establishing a new tax credit program to support affordable housing development. The bill directly affects developers and investors who construct or rehabilitate qualifying affordable housing projects in Oklahoma. Key provisions authorize the state to issue tax credits against income tax liabilities for projects meeting specific affordability and location criteria. The program will become effective November 1, 2026, though the bill text does not specify credit amounts, eligibility rules, or administrative details beyond its framework.
HB 4312 creates a County Economic Development Closing Fund that counties can establish to support economic development. The fund, financed by county appropriations, grants, and interest, may only be used for projects that would determine the location or retention of high-impact businesses, requiring counties to demonstrate expected benefits like new jobs, job retention, capital investment, or increased tax revenue. Counties must evaluate proposals using specific criteria (e.g., job numbers, investment size, economic impact) and enter written agreements with businesses outlining performance targets, repayment terms if goals aren’t met, and regular progress reporting. All recipients and funding amounts must be publicly disclosed by the county, excluding proprietary business information.
HB 2966 amends Oklahoma's sales tax code to add certified recovery homes and certified recovery community organizations to the list of entities exempt from state sales tax. This change applies to purchases of tangible personal property or services made by these certified entities for their operations. The bill specifies that these organizations must be certified by the state to qualify for the exemption, aligning them with existing tax-exempt groups like schools and nonprofits. Vendors selling to these organizations will no longer collect sales tax on qualifying transactions. The exemption applies to all purchases made by these certified recovery entities, not just specific services.
HB 3065 creates a new excise tax on electronic cigarettes and vapor products sold in Oklahoma. It imposes a 15-cent tax per milliliter of e-liquid plus $1.00 per cartridge for closed-system products, with similar rates for open-system products. The tax applies to retailers selling these items, requiring them to collect and remit the tax to the Oklahoma Tax Commission. Revenue from this tax will be deposited into the state's General Revenue Fund.
HB 3066 creates the Health Care Workforce Training Commission and establishes the "Rural Health Transformation Revolving Fund" in Oklahoma's state treasury. The fund will collect federal funds (including those from the One Big Beautiful Bill Act of 2025), interest, and designated state monies to specifically recruit and retain healthcare workers in rural and underserved Oklahoma communities, requiring a minimum 5-year service commitment. The Commission can use these funds for workforce programs and create necessary rules to implement the program. The bill takes effect July 1, 2026, and directly affects rural healthcare providers and communities facing workforce shortages.
SB 1574 increases Oklahoma's annual cap for affordable housing tax credits from $4 million to $8 million for allocation years beginning on or after July 1, 2026. It directly affects developers of low-income housing projects that qualify under federal tax credit rules and investors claiming these state tax credits. The bill maintains that state credits cannot exceed federal credits for a project and must be used for projects placed in service after July 2015. The change provides more funding for affordable housing initiatives without altering eligibility requirements.
HB 3347 would exempt Oklahoma homeowners aged 65 or older from all property taxes on their primary residence (homestead). Currently, homesteads receive a $1,000 tax exemption; this bill replaces that with full exemption for seniors. The change applies to all property taxes based on home value (ad valorem taxes) and takes effect January 1, 2027. It directly affects Oklahoma seniors living in their primary homes, reducing their property tax burden significantly. The bill amends Oklahoma Statutes Section 2889 to expand the existing homestead exemption for this age group.
This bill proposes a constitutional amendment to change Oklahoma's homestead property tax rules. Currently, seniors aged 65+ qualify for a tax limit on their primary home only if their household income stays below a yearly threshold set by the federal government. The amendment would eliminate that income requirement while keeping the age limit (65+) and adding a new rule: the homeowner must own the property free of any mortgage or debt. It would apply to seniors who meet these conditions and require voter approval through a state question.
HB 3760 creates tax credits for Oklahomans who donate to certified law enforcement foundations supporting local police departments. Taxpayers can claim credits up to $5,000 annually (single filers) or $10,000 (married/joint filers), with a total annual cap of $75 million statewide and $3 million per foundation. Foundations must be certified by the state, and donations must fund specific officer needs like training, equipment, or joint emergency response teams - *not* regular salaries. The bill requires foundations to report spending and sets strict limits to ensure credits don’t exceed state revenue goals.
HB 3751 expands Oklahoma's homestead property tax exemption to include mobile homes and site-built homes (whether on owned or rented/leased land) when occupied as a primary residence. It clarifies that owners must actually reside there to qualify, with special provisions for tornado victims (2013+ disasters with federal disaster declarations). The bill defines rural homesteads as up to 160 acres and urban homesteads as no more than 1 acre. It takes effect January 1, 2027.
