This Oklahoma bill creates a tax credit program to encourage converting old, vacant buildings into housing. Property owners can claim up to 50% of qualified costs (like environmental cleanup, code upgrades, or system repairs) for adaptive reuse projects on structures at least 30 years old that have been vacant or underutilized (with rent below 50% of market rate). The program has a $5 million annual cap on approved credits, with unused funds carried forward to future years. Credits cannot reduce tax liability below zero but may be carried forward for up to 10 years. The Oklahoma Department of Commerce and Tax Commission will administer the program and prioritize projects based on local housing needs.
HB 2212 establishes Oklahoma's Registered Apprenticeship Program (ORAP), allowing apprentices in federally recognized programs to take general education courses at public community colleges toward an associate degree. It authorizes an income tax credit for employers who hire apprentices and requires the Oklahoma Workforce Commission to collect workforce data to track program outcomes. The bill sets eligibility for apprentices (including journeyworkers with federal certificates) and mandates completion of 15 credit hours within six years. This directly affects apprentices, community colleges, and employers participating in registered apprenticeships statewide.
HB 1203, the Strategic Bitcoin Reserve Act, would allow Oklahoma's State Treasurer to invest up to 10% of specific state funds (General Fund, Revenue Stabilization Fund, and Constitutional Reserve Fund) in Bitcoin or digital assets with a $500 billion+ market cap, plus approved stablecoins. The bill requires all digital assets to be held through secure custody solutions meeting strict security standards, including multi-party governance and encrypted storage in geographically diverse facilities. It also mandates that taxes paid in Bitcoin be converted to U.S. currency and transferred to the State General Fund, and permits state retirement funds to hold digital assets under similar secure custody rules. The act applies directly to state treasury operations, retirement funds, and tax collection processes. The bill was introduced in 2025 but failed in committee in April 2025.
HB 1092 creates a $7,500 annual tax credit for Oklahoma residents who complete qualifying trade or vocational programs (such as HVAC, plumbing, or welding training) at approved Oklahoma schools. The credit, available for taxable years starting January 1, 2026, offsets income tax liability up to the actual tuition cost paid (whichever is lower), but cannot reduce tax below zero. Unused portions may carry forward for up to three years, and the credit can only be claimed once per individual after receiving program certification. This policy directly supports Oklahoma residents pursuing in-demand technical careers by reducing the cost of vocational education.
SB 106 creates a 30% tax credit for Oklahoma employers who pay down employees' student loan debt, effective for tax years starting in 2026. The credit directly affects employers (not employees) and cannot reduce tax liability below zero, but unused portions can be carried forward for up to 10 years. Employers must claim the credit using forms and documentation specified by the Oklahoma Tax Commission. The bill takes effect November 1, 2025.
SB 231 expands Oklahoma's August sales tax holiday to include additional school-related items. It adds school art supplies, school instructional materials (like reference books), and school computer supplies to the list of exempt items, alongside existing clothing, footwear, and sports equipment. The exemption applies to purchases under $100 during the three-day holiday period (first Friday in August to Sunday following). This directly affects students, parents, and schools purchasing these specific educational items during the tax-free window. The bill does not change the existing tax holiday dates or price threshold.
This constitutional amendment (SJR 2) changes Oklahoma's budget procedures by establishing annual spending limits based on inflation and population growth. It requires the State Board of Equalization to certify revenue estimates and spending limits (capped at 95% of projected revenue), mandating voter approval for any appropriations exceeding these limits. The amendment also renames the "Constitutional Reserve Fund" as the "Constitutional Emergency Fund" and modifies how state funds are allocated and certified. It directly affects state budgeting processes and requires legislative action to adjust spending beyond certified limits.
HB 1469 creates an income tax credit program for Oklahoma taxpayers covering qualified education expenses for eligible students. It directly affects parents, guardians, or legal custodians who pay for private school tuition or approved educational services (like tutoring, materials, or assessments) for children in Oklahoma. The credit amount varies by family income (ranging from $5,000 to $7,500 annually) and includes special provisions for schools serving homeless students or financially disadvantaged students (90% of enrollment below 250% of federal poverty level). The bill requires taxpayers to submit receipts to the Oklahoma Tax Commission and limits credits to expenses not covered by scholarships or discounts.
HB 1267 adjusts Oklahoma's individual income tax rates for tax years beginning in 2024. It lowers the top marginal tax rate from 5.50% to 4.75% for most taxpayers (single filers and married couples filing jointly), creating new tax brackets starting at 0.25% for lower income levels. The bill eliminates deductions for federal income taxes when calculating Oklahoma taxable income. These changes affect all Oklahoma residents and nonresidents filing state income tax returns for 2024 and subsequent years, with the top rate reduction contingent on a State Board of Equalization determination.
HB 1788 amends Oklahoma's individual income tax rates for taxable years beginning in 2024 and ending in 2025. It lowers tax brackets across the board, reducing the top marginal rate from 5.5% to 4.75% for single filers and married couples filing jointly. The bill also eliminates the deduction for federal income taxes paid when calculating taxable income. These changes directly affect all Oklahoma individual taxpayers filing state income tax returns during the 2024-2025 tax years.
