An act relating to revenue and taxation, the official text

1                            STATE OF OKLAHOMA

2   1st Session of the 60th Legislature (2025)

3 HOUSE BILL 2091                 By: Menz

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6                            AS INTRODUCED

7   An Act relating to revenue and taxation; providing

    income tax credit for individuals who pay rent for

8   their residence; limiting the amount of credit

    received in a tax year; providing inflation

9   adjustment; making credit refundable; requiring the

    Tax Commission to provide form; requiring certain

10  information; providing for codification; and

    providing an effective date.

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14 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:

15  SECTION 1.      NEW LAW  A new section of law to be codified

16 in the Oklahoma Statutes as Section 2357.802 of Title 68, unless

17 there is created a duplication in numbering, reads as follows:

18  A. For taxable years beginning on and after January 1, 2026,

19 there shall be allowed against the tax imposed by Section 2355 of

20 Title 68 of the Oklahoma Statutes a credit for any individual for

21 rent paid for their primary residence. The credit allowed shall be

22 refundable and shall not exceed One Hundred Ten Dollars ($110.00)

23 for tax year 2026, and shall be annually adjusted to reflect price

24 inflation as measured by the Consumer Price Index for All Urban

    Req. No. 10821                                                  Page 1
1 Consumers ("CPI-U") published by the Bureau of Labor Statistics for

2 subsequent tax years.

3   B. The Oklahoma Tax Commission shall provide a form to claim

4 the credit. The form shall require information from the individual

5 including their address, the name of the landlord, the required

6 monthly rent, and the total amount of rent paid in the tax year.

7   SECTION 2. This act shall become effective November 1, 2025.

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9   60-1-10821      AO   12/11/24

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    Req. No. 10821                                                 Page 2