Budget & Taxes

vetoed · Oklahoma · House May 12, 2026

HB 3972: Public finance; Ad Valorem Reimbursement Fund; school district revenue loss; state purchases; emergency.

HB 3972 creates a state "Ad Valorem Reimbursement Fund" to reimburse Oklahoma counties for property tax revenue losses caused by specific exemptions. It directly affects counties that lose revenue due to tax exemptions for new manufacturing facilities, veterans' homes (if exemptions exceed 0.8% of population), school district exemptions, buffer strip valuation changes, or state property purchases over $300 million (limited to two tax years). Counties must file claims by April 30 each year, with the Tax Commission reviewing them by June 15; reimbursements prioritize manufacturing exemptions and state property purchases before other claims. The fund is a revolving account with no fiscal year limits, and disbursements are exempt from standard spending caps. The bill takes immediate effect due to an emergency declaration.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates Ad Valorem Reimbursement Fund to offset county revenue losses from tax exemptions, supporting fiscal stability for local governments affected by state policies.95% confidence

Sub-Topics Property Tax Revenue Tax Incentives

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in committee · Oklahoma · House Feb 3, 2026

HB 3591: Affordable housing; Oklahoma Affordable Housing Policy Act of 2026; effective date.

HB 3591 amends Oklahoma's property tax exemption rules for charitable housing, correcting the misleading title that references "affordable housing." It specifically targets nonprofit housing properties claiming tax exemption under Section 2887, requiring them to maintain a 75% average occupancy rate for multi-family properties (or full occupancy for single-family homes) to retain exemption. Owners must submit annual occupancy reports to county assessors by December 15, with failure to meet the threshold resulting in loss of tax exemption for the following year. This bill directly affects nonprofit housing providers operating under IRS 501(c)(3) status that rely on property tax exemptions, altering their compliance obligations without creating new housing programs.

Topics ✓ Budget & TaxesSupports Budget & TaxesEnforces occupancy requirements to prevent tax exemption misuse, ensuring fiscal responsibility by closing loopholes in charitable housing tax benefits.90% confidence

Sub-Topics Property Tax Tax Incentives

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failed · Oklahoma · Senate Apr 28, 2026

SJR 39: Constitutional amendment; ad valorem; reducing limitation on growth of fair cash value; modifying limitation on growth of fair cash value for homesteads of persons over sixty-five years of age.

Oklahoma's SJR 39 proposes a constitutional amendment to reduce limits on annual increases in property tax assessments. It would lower the maximum annual growth rate for most real property from 5% to 3% (for tax years 2027 onward) and further reduce limits for homestead properties (primary residences) and agricultural land from 3% to 1%. The amendment applies to locally assessed real property, excluding personal property and properties with recent transfers or improvements. If approved by voters, these changes would take effect for tax years beginning in 2027.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill reduces property tax assessment growth limits from 5% to 3% (3% to 1% for homesteads), restricting government revenue growth from property taxes.95% confidence

Sub-Topics Property Tax

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in committee · Oklahoma · Senate Feb 3, 2026

SB 1995: Sales tax: exempting certain bakery items from sales tax. Effective date.

SB 1995 amends Oklahoma's sales tax code to create a new exemption for certain bakery items, directly affecting bakeries and grocery stores selling those items. The bill requires businesses to apply for and verify eligibility with the Oklahoma Department of Agriculture, which will then notify the Tax Commission to issue exemption cards. Key provisions include application requirements, verification processes, and rules for reapplying before exemption expiration. The bill does not specify which bakery items qualify, as the provided text does not list them in the amended exemption sections (which currently cover items like food for Meals on Wheels, prescription drugs, or resale goods). The bill is currently in committee review with no votes taken.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts bakery items from sales tax, providing direct tax relief under tax code amendment.85% confidence

Sub-Topics Sales Tax

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in committee · Oklahoma · House Feb 3, 2026

HJR 1068: Oklahoma Constitution; appropriations; adjustment; ballot title; filing.

HJR 1068 proposes a constitutional amendment to Oklahoma's budget process. It requires the State Board of Equalization to certify annual revenue estimates 35-45 days before each legislative session, capping annual state spending increases at 6% (adjusted for inflation). The bill establishes a Constitutional Reserve Fund that must grow to 15% of the previous year's revenue estimate, with limited use of reserve funds for manufacturing incentives under strict conditions. This directly affects how Oklahoma's legislature appropriates funds, limiting annual spending growth and mandating specific revenue certification procedures.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCaps annual state spending increases at 6% (inflation-adjusted), restricting budget growth and limiting fiscal flexibility.95% confidence

Sub-Topics State Budget

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vetoed · Oklahoma · House May 14, 2026

HB 4432: Revenue and taxation; adjustments; eliminating limitation on itemization of wagering losses for certain tax years; effective date.

HB 4432 amends Oklahoma's tax code to eliminate a limitation on itemizing wagering income for tax purposes and updates statutory references throughout the Oklahoma Revenue and Taxation Act. It specifically adjusts how businesses calculate Oklahoma taxable income, particularly regarding federal net operating loss deductions and the allocation of income from property or business activities. The bill clarifies that Oklahoma net operating losses must be separately determined using federal rules but without requiring a federal loss, and it updates rules for allocating income from intangible property and certain business activities. This is a procedural update to the tax code, not a new tax or policy change, and it affects businesses and individuals filing Oklahoma income taxes. The bill was introduced in 2026 but has not advanced beyond committee referral.

Topics ✗ Budget & TaxesOpposes Budget & TaxesEliminates limitation on itemizing wagering income deductions, reducing state tax revenue through business tax breaks.90% confidence

Sub-Topics Business Taxes Revenue

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in committee · Oklahoma · House Feb 3, 2026

HB 4480: Revenue and taxation; income tax; deduction; potable water; natural gas; electricity; effective date.

HB 4480 amends Oklahoma's income tax code to allow a deduction for certain taxpayers who pay for natural gas, electricity, or potable water services. This deduction directly affects individual and business taxpayers who incur these utility expenses. The bill adjusts Oklahoma taxable income calculations to include this specific deduction, aligning with existing tax code provisions. It does not create new tax rates or broadly alter tax structures, but modifies how certain utility payments are treated in taxable income calculations. The bill is currently in committee referral after its initial readings.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides targeted tax deduction for utility payments, reducing taxable income for affected taxpayers, aligning with tax relief indicators for middle/lower income.95% confidence

Sub-Topics Income Tax

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died · Oklahoma · House Feb 16, 2026

HB 3396: Public finance; state or local governments; payments; public revenues; business entities; disclosure; effective date.

HB 3396 requires Oklahoma state and local governments to publicly disclose the identity of private businesses that will benefit from public funds used for major economic development projects before any payments are made. It applies to projects involving business entities spending over $5 million on property improvements or acquisitions within 90 days of receiving public revenue (like tax funds or bonds). Governments must post this disclosure online at least 60 days prior to payments, ensuring transparency about which companies receive public money. The law takes effect November 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesMandates pre-payment disclosure of business beneficiaries for public funds, enhancing fiscal transparency and accountability in government spending.85% confidence

Tags Economic Development

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in committee · Oklahoma · House Feb 3, 2026

HB 3307: Veterans Traumatic Brain Injury Treatment and Recovery Revolving Fund; appropriations; amount; purpose; effective date; emergency.

HB 3307 allocates $5 million from Oklahoma's General Revenue Fund to establish a revolving fund specifically for veterans' traumatic brain injury (TBI) treatment and recovery services. The funding supports the Oklahoma Department of Veterans Affairs in providing TBI care to eligible veterans, directly benefiting veterans with TBI injuries who access state veterans' services. The bill becomes effective July 1, 2026, and declares an emergency to allow immediate implementation upon approval. This is a funding measure with no new policy requirements, solely providing financial resources for existing TBI treatment programs.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $5M from General Revenue Fund to fund veterans' TBI treatment, directly increasing state spending on public health services.95% confidence ✓ HealthcareSupports HealthcareAllocates $5M for veterans' TBI treatment funding, directly expanding healthcare services for a specific patient group.95% confidence ✓ VeteransSupports VeteransAllocates $5M from state revenue to fund veterans' TBI treatment via revolving fund, directly supporting healthcare access for veterans with TBI injuries.95% confidence

Sub-Topics Revenue Substance Abuse Veteran Mental Health

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in committee · Oklahoma · House Mar 5, 2026

HJR 1044: Oklahoma Constitution; ad valorem; limitation of growth on fair cash value; ballot title; filing.

This bill proposes a constitutional amendment (HJR 1044) that would reduce the annual limit on property tax value increases for certain Oklahoma properties. Specifically, it would lower the cap from 3% to 2% for homestead properties and agricultural land, meaning their assessed value could rise by no more than 2% per year for tax purposes. The change would apply to most locally assessed real property but excludes properties with title transfers, new improvements, or personal property. If approved by voters, this amendment would require the Legislature to enact implementing laws. It is a voter-approved constitutional change, not a regular law.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces annual property tax assessment cap from 3% to 2% for homesteads/ag land, providing tax relief and promoting fiscal responsibility for property owners.95% confidence

Sub-Topics Property Tax

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