SB 1332, the THRIVE Act, creates a program providing zero-interest loans to eligible housing developers needing water, wastewater, or stormwater infrastructure to complete housing projects. It establishes a $100 million revolving fund administered by the Oklahoma Water Resources Board, allocating funds based on population size (33% to large cities, 33% to mid-sized areas, 34% to small communities). The program requires a scoring system for applications prioritizing housing needs, economic development, workforce housing, and fiscal sustainability, with a clawback provision requiring repayment if projects aren't completed. It mandates annual public reporting on project status and outcomes, effective November 1, 2026.
HB 2189 creates the Oklahoma Workforce Housing Commission to oversee affordable housing initiatives. The commission, working with the Oklahoma Housing Finance Agency, must submit annual reports to the legislature starting December 1, 2026. Key provisions include adjusting the commission's initial report deadline from 2034 to 2028 and requiring ongoing annual reporting to legislative leaders. This bill directly affects state housing programs and legislative oversight of affordable housing efforts. The commission's work aims to improve housing access through structured reporting and planning.
SB 938 creates a state grant program to help Oklahoma municipalities increase workforce housing availability. Workforce housing is defined as housing for households earning 60% to 120% of the county's median income. Municipalities must submit a detailed plan covering current housing supply, projected needs, land use, and existing programs to qualify for one-time grants administered by the Oklahoma Housing Finance Agency. The program uses a new revolving fund in the state treasury, funded by state appropriations and private donations, and requires grantees to submit quarterly progress reports and repay funds if they fail to meet agreement terms. The law takes effect July 1, 2025.
SB 275 would create the Oklahoma Workforce Housing Commission to develop strategies for expanding affordable housing options. It authorizes the existing Oklahoma Workforce Commission to implement specific reports and housing plans focused on increasing affordable housing access. The bill directly affects low-to-moderate income residents and housing providers by establishing a dedicated commission to coordinate housing initiatives. This proposal aims to increase housing availability through structured planning and implementation, rather than through new funding or regulations.
SB 1393, the RESTORE Act, creates a 50% tax credit for developers converting old, vacant commercial buildings (over 50 years old, vacant for 3+ years, and not eligible for historic tax credits) into residential housing. It directly affects property owners or developers who undertake "adaptive reuse" projects, covering extra renovation costs like environmental cleanup, code compliance, and infrastructure upgrades. The credit is capped at $5 million annually (2027-2037), requires 20% of units to be affordable for 10 years, and allows unused credit to carry forward to future tax years. Projects must meet specific affordability and location criteria, with annual reports tracking housing units and economic impact.
SB 274 requires landlords receiving certain affordable housing tax credits (under federal or Oklahoma law) to implement a criminal history screening policy for tenant applications. It prohibits blanket denials based on criminal records and mandates an individualized review considering factors like the offense's seriousness, time since conviction, rehabilitation efforts, and relevance to tenant behavior. Landlords must provide applicants with the right to submit supporting documentation during this review process. The policy applies to tax credit awards starting January 1, 2026, and the Oklahoma Housing Finance Agency will ensure compliance with these requirements.
SB 101 creates an income tax credit for Oklahoma residents paying rent or mortgage on their primary residence. It provides refundable credits ranging from $1,000 to $7,000 based on household income (as a percentage of Oklahoma's state median income) and the number of dependents. The credit applies to tax years starting in 2026, with limits of one credit per residence and refunding excess amounts if the credit exceeds the tax owed. This directly benefits low-to-moderate-income Oklahoma households struggling with housing costs. The bill takes effect November 1, 2025.
HB 2099 creates the Oklahoma Affordable Housing Commission to address housing needs for low- and moderate-income Oklahomans, defined by HUD income categories (e.g., "extremely low income" = ≤30% area median income). The bill establishes a dedicated state revolving fund in the Treasury, administered by the Commission, to finance housing initiatives. Key provisions require the Commission to develop annual plans, conduct housing needs assessments, and seek legislative approval for rules before spending funds - starting no earlier than July 1, 2025. The Commission’s 16-member structure includes legislative leaders, tribal housing representatives, community organizations, and housing agencies to guide funding toward affordable housing solutions.
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.
SB 71 creates an income tax credit for Oklahoma renters, directly affecting individuals who pay rent for their primary residence. It allows a credit of up to $110 for 2026 (adjusted annually for inflation based on the Consumer Price Index), which becomes refundable if it exceeds the taxpayer's income tax liability. The Oklahoma Tax Commission must provide a form requiring renters to submit their address, landlord name, monthly rent, and annual rent total to claim the credit. The bill takes effect November 1, 2025, and applies to tax years beginning in 2026.
