Budget & Taxes

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

Sub-Topics Income Tax

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in committee · Oklahoma · Senate Mar 10, 2026

SB 1125: Excise tax; authorizing counties and municipalities to levy tax on medical marijuana. Effective date.

SB 1125 authorizes Oklahoma counties and municipalities to levy an excise tax on medical marijuana sales, but only after voter approval via special election or initiative petition (requiring 5% of registered voters' signatures). The tax must be approved by a majority vote, cannot be re-proposed within six months if rejected, and applies only to sales within the local jurisdiction. Funds must be dedicated to specific purposes like public safety (not redirectable without new voter approval), and counties must create revolving funds for these designated uses. The bill also states that if recreational marijuana is legalized, the same tax rules would automatically apply to it.

Topics ✓ Budget & TaxesSupports Budget & TaxesAuthorizes local excise tax on medical marijuana sales to fund public safety, promoting fiscal responsibility through dedicated revenue streams for essential services.90% confidence

Sub-Topics Sales Tax

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passed · Oklahoma · House Apr 21, 2025

HB 1433: Municipal audits; re-creating the Special Investigative Unit Auditing Revolving Fund; funding sources; purpose; effective date; emergency.

HB 1433 re-creates a revolving fund to support municipal audits conducted by Oklahoma's Special Investigative Unit. The bill specifies funding sources for this fund and sets an effective date of July 1, 2025, with an emergency clause allowing immediate implementation upon approval. It directly affects Oklahoma municipalities requiring audit services and the Special Investigative Unit's operational budget. The bill's core mechanism is establishing this dedicated funding stream to ensure consistent audit capacity for local governments. (Note: The provided context lacks detailed policy provisions beyond the title, effective date, and fund structure.)

Topics ✓ Budget & TaxesSupports Budget & TaxesRe-creates revolving fund for municipal audits, ensuring dedicated budget allocation and fiscal accountability per bill's funding mechanism.92% confidence

Sub-Topics Audits & Accountability

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in committee · Oklahoma · Senate Mar 2, 2026

SB 182: Oklahoma Public Employees Retirement System; modifying retirement date and compensation amount for certain members.

SB 182 modifies retirement benefits for certain Oklahoma state employees, specifically members of the Oklahoma Tax Commission. It allows these employees to elect, within 90 days of appointment, to use the highest salary allowed for their position (rather than their constitutionally capped salary) when calculating retirement contributions and benefits. This change applies to both current and newly appointed Tax Commission members, making their retirement benefits based on a higher compensation amount. The bill updates related sections of the Oklahoma Public Employees Retirement System statutes to reflect this election process.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases state pension costs for Tax Commission members by allowing higher salary calculations, raising government spending on retirement benefits.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentAllows Tax Commission members to use higher salary for retirement benefits, increasing compensation and strengthening retirement protections for specific state employees.90% confidence

Sub-Topics Pensions

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died · Oklahoma · House Feb 5, 2025

HB 1867: Revenue and taxation; sales tax; sales-tax-free weekend; school supplies; exemptions; effective date; emergency.

HB 1867 expands Oklahoma's annual sales tax-free weekend to include school supplies, allowing residents to purchase these items tax-free during a three-day period in August. The bill sets price limits ($100 for clothing/footwear, $50 for school supplies) and excludes athletic wear, accessories, and rentals from the exemption. It applies to both state and local sales taxes, requiring school supply items to meet an annual list approved by the State Board of Education. This directly affects shoppers buying qualifying school supplies and clothing during the designated tax-free weekend.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax exemption for school supplies, providing temporary tax relief for families purchasing essential items during designated period.95% confidence ✓ EducationSupports EducationTax-free school supplies lower financial barriers for families, enhancing access to educational materials per bill's focus on school supply exemptions.85% confidence

Sub-Topics Sales Tax

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died · Oklahoma · House Feb 13, 2026

HB 2935: Revenue and taxation; sales tax exemptions; diapers; effective date; emergency.

HB 2935 adds diapers to Oklahoma's list of sales tax-exempt items under the state's tax code. This change directly affects consumers purchasing diapers for personal use, exempting those sales from the state's 4.5% sales tax. The bill amends Section 1357.6 of Oklahoma's Sales Tax Code to include diapers as a qualifying exemption, aligning with existing exemptions for items like food, medicine, and baby supplies. The exemption applies to all diaper sales made after the bill's effective date.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts diapers from 4.5% sales tax, providing direct tax relief for families purchasing essential baby items, aligning with existing food/medicine exemptions.95% confidence

Sub-Topics Procurement Sales Tax

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in committee · Oklahoma · House Feb 4, 2025

HB 1926: Economic development; appropriation; Oklahoma Department of Commerce; Community Development Financial Institutions; effective date; emergency.

HB 1926 appropriates $30 million from Oklahoma's General Revenue Fund to the Department of Commerce for a program partnering with SBA-certified Community Development Financial Institutions (CDFIs). This funding directly supports small businesses by enabling CDFIs to provide loans to owners, particularly in underserved communities. The program will operate using unallocated funds for the 2026 fiscal year and takes effect July 1, 2025. The bill creates a specific funding mechanism to expand small business lending access through established community-focused lenders.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $30M from General Revenue Fund to fund small business loans via CDFIs, advancing economic development spending within budget allocation.90% confidence

Sub-Topics Appropriations Revenue

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in committee · Oklahoma · Senate Feb 4, 2025

SB 173: Transportation; modifying certain apportionment; creating the Municipal Improvements for Roads and Bridges Fund. Effective date. Emergency.

SB 173 redirects excess vehicle tax revenue that would otherwise go to Oklahoma's General Revenue Fund into a new Municipal Improvements for Roads and Bridges Fund. Starting in 2019, any funds exceeding the 2015 apportionment level for transportation will now fund local road and bridge projects instead. This directly affects Oklahoma cities and counties seeking to improve their infrastructure through this dedicated funding source. The bill modifies existing vehicle fee distribution rules without creating new taxes, using money that would have otherwise been added to the General Revenue Fund.

Topics ✓ Budget & TaxesSupports Budget & TaxesRedirects excess vehicle tax revenue to dedicated infrastructure fund, advancing public works funding without increasing taxes.90% confidence ✓ TransportationSupports TransportationRedirects excess vehicle tax revenue to a dedicated fund for local road and bridge projects, directly funding transportation infrastructure improvements.95% confidence

Sub-Topics Revenue Bridges Roads & Highways Transportation Funding

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in committee · Oklahoma · House Feb 4, 2025

HB 1425: Revenue and taxation; Rural Firefighter Tax Credit Act of 2025; effective date.

This bill creates a new tax credit for eligible rural firefighters in Oklahoma, effective November 1, 2025. It directly affects firefighters employed by qualifying rural fire departments who meet specific service criteria. The legislation establishes a tax credit program without altering existing tax code sections, providing a financial incentive for rural fire service personnel. The credit is structured as a noncodified provision under the "Rural Firefighter Tax Credit Act of 2025."

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for rural firefighters, providing direct tax relief without altering existing tax code, aligns with tax relief indicators for public service personnel.95% confidence

Sub-Topics Tax Credits

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in committee · Oklahoma · Senate Feb 4, 2025

SB 52: Income tax; modifying calculation of the Oklahoma earned income tax credit. Effective date.

SB 52 changes Oklahoma's Earned Income Tax Credit (EITC) to be 5% of the federal EITC amount for tax years starting in 2022. It clarifies that the state credit calculation uses the same federal rules as the federal EITC (except for the fixed 5% rate) and ensures any excess credit beyond state tax liability is refunded. The bill also limits the maximum credit to the portion of the federal credit corresponding to the taxpayer's Oklahoma income relative to their federal income. This affects Oklahoma residents who qualify for the federal EITC and claim the state credit, potentially altering their refund amounts.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill reduces Oklahoma EITC to 5% of federal credit, weakening tax relief for low-income earners compared to potential higher state rates.90% confidence

Sub-Topics Income Tax Tax Credits

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