Rep. Cody Maynard

Maddy summaryHouse Bill 1205 repeals the existing state tax credit for small wind turbines. This means that individuals and businesses who install small wind turbines will no longer be able to claim this specific credit against their state taxes. The bill removes Section 2357.32B of Title 68 from state law. This change is scheduled to take effect on November 1, 2025.

Maddy summaryHB 1197 authorizes Oklahoma's State Treasurer to create a bullion depository (holding gold and silver) and issue transaction cards to state residents. These cards allow users to make purchases debited directly from their gold or silver deposits, treating such transactions as legal currency under this law. The bill requires the Treasurer to establish fee structures for account holders and develop rules for sharing account information with depository partners. It affects Oklahoma citizens who open accounts in the depository system, with the law taking effect November 1, 2025.

Maddy summaryHB 1200 establishes a revenue stabilization mechanism for Oklahoma's state budget. It requires the State Board of Equalization to certify five-year average revenue from oil, natural gas, and corporate income taxes. If annual revenue exceeds these averages, specific percentages (25% to the Constitutional Reserve Fund, 75% to the Revenue Stabilization Fund) must be deposited - unless revenue growth exceeds $400 million (adjusted for inflation), which could trigger future tax rate reductions. The bill does not change tax rates directly but links fund deposits to revenue performance, affecting how state funds are managed rather than individual taxpayers. This procedural bill focuses on budget stability rules, not new tax policies.

Maddy summaryHB 1199 defines U.S. gold and silver coins as legal tender in Oklahoma for paying debts, but clarifies that individuals cannot be forced to accept them unless agreed upon in a contract. The bill specifies that gold or silver bullion (with clear weight and metal content) may also be used as legal tender, and prohibits taxing transactions involving these metals. It requires Oklahoma courts to enforce contracts specifying gold or silver as payment and ensures exchanges of such metals don’t create tax liability. The law takes effect November 1, 2025.

Maddy summaryHouse Bill 1199 designates gold and silver coins issued by the United States government as legal tender in Oklahoma, alongside other forms of specie. The bill clarifies that specie, which includes gold and silver coins or refined bullion, will not be characterized as personal property for taxation or regulatory purposes. It specifies that exchanging legal tender or buying/selling specie will not create tax liability. Additionally, the bill directs Oklahoma courts to enforce specific performance for contracts that explicitly designate a type of specie as tender, though no one can be compelled to accept or tender specie unless by law or contract. This legislation affects individuals and businesses in Oklahoma dealing with gold and silver, and Oklahoma courts handling related contractual disputes.

Maddy summaryHB 1197 authorizes the State Treasurer to issue transaction cards to Oklahoma citizens, allowing them to make purchases debited from gold and silver deposits held in a bullion depository. The Treasurer's office would establish procedures for sharing account information and develop a fee structure for using these services. The bill specifies that deposits of gold and silver in the bullion depository and transactions made with the card are considered legal tender and an exchange of currency. This aims to provide an alternative financial mechanism for citizens using precious metals.

Maddy summaryHB 1200 modifies Oklahoma's revenue certification and allocation processes for specific taxes. It requires the State Board of Equalization to certify five-year average revenues from oil, natural gas, and corporate income taxes, directing excess amounts above these averages into the Revenue Stabilization Fund and, for corporate income, partially into the Constitutional Reserve Fund. The bill also establishes a mechanism where sustained state tax revenue growth exceeding $400 million (adjusted for inflation) could trigger future reductions in marginal income tax rates. This affects state revenue management and could eventually impact individual taxpayers through changes in income tax rates.

Maddy summaryHB 1201 creates a 70% tax credit for Oklahoma taxpayers who donate to certified pregnancy resource centers, capping the credit at $50,000 per donor annually. To qualify, centers must provide free, non-abortion services (like prenatal care and counseling) without performing or referring for abortions, and must be certified by the state health director. The total annual tax credits for all donors are capped at $5 million, with annual adjustments to prevent exceeding this limit. The credit applies to donations of $100 or more and takes effect January 1, 2026.

Maddy summaryHB 1201 proposes a new tax credit for taxpayers who contribute to qualified pregnancy resource centers in Oklahoma. These centers are defined as non-residential facilities that assist women and families with crisis or unplanned pregnancies by offering various support services, but do not perform or refer for abortions. Taxpayers can claim a credit equal to 70% of their contribution, up to $50,000 per year, for contributions made between 2026 and 2031. The State Department of Health's Director determines which facilities qualify, and there is an annual statewide limit of $5 million for all claimed credits.

Maddy summaryHB 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.