Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
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2 1st Session of the 60th Legislature (2025)
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3 SENATE BILL 101 By: Boren
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6 AS INTRODUCED
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7 An Act relating to income tax; defining terms;
7 providing credit for certain housing expenses;
8 stipulating credit amount; limiting credits claimed
8 for each residence; making credit refundable;
9 providing for codification; and providing an
9 effective date.
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12 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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13 SECTION 1. NEW LAW A new section of law to be codified
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14 in the Oklahoma Statutes as Section 2357.901 of Title 68, unless
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15 there is created a duplication in numbering, reads as follows:
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16 A. As used in this section:
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17 1. "State median income" means the amount determined by the
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18 United States Department of Housing and Urban Development to be the
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19 estimated median income of this state for the year preceding the
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20 corresponding tax year; and
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21 2. "Taxpayer" means an individual taxpayer or married taxpayers
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22 filing jointly that are residents of this state.
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23 B. For tax year 2026 and subsequent tax years, there shall be
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24 allowed a credit against the tax imposed by Section 2355 of Title 68
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Req. No. 1122 Page 1
1 of the Oklahoma Statutes equal to the rent paid or the mortgage
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2 principal and interest paid on the primary residence, located within
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3 this state, of an individual taxpayer whose gross household income
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4 does not exceed the limits provided in paragraphs 7 and 8 of
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5 subsection C of this section.
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6 C. The credit allowed pursuant to this section shall not exceed
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7 the following amounts:
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8 1. Seven Thousand Dollars ($7,000.00) for a taxpayer claiming
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9 two or more dependents whose gross household income from all sources
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10 does not exceed twenty percent (20%) of the state median income;
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11 2. Seven Thousand Dollars ($7,000.00) for a taxpayer claiming
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12 less than two dependents whose gross household income from all
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13 sources does not exceed ten percent (10%) of the state median
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14 income;
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15 3. Five Thousand Dollars ($5,000.00) for a taxpayer claiming
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16 two or more dependents whose gross household income from all sources
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17 does not exceed forty percent (40%) of the state median income;
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18 4. Five Thousand Dollars ($5,000.00) for a taxpayer claiming
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19 less than two dependents whose gross household income from all
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20 sources does not exceed twenty percent (20%) of the state median
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21 income;
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22 5. Three Thousand Dollars ($3,000.00) for a taxpayer claiming
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23 two or more dependents whose gross household income from all sources
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24 does not exceed sixty percent (60%) of the state median income;
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Req. No. 1122 Page 2
1 6. Three Thousand Dollars ($3,000.00) for a taxpayer claiming
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2 less than two dependents whose gross household income from all
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3 sources does not exceed forty percent (40%) of the state median
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4 income;
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5 7. One Thousand Dollars ($1,000.00) for a taxpayer claiming two
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6 or more dependents whose gross household income from all sources
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7 does not exceed eighty percent (80%) of the state median income; and
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8 8. One Thousand Dollars ($1,000.00) for a taxpayer claiming
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9 less than two dependents whose gross household income from all
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10 sources does not exceed sixty percent (60%) of the state median
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11 income.
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12 D. No more than one credit shall be claimed per residence in
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13 any tax year.
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14 E. If the credit exceeds the tax imposed by Section 2355 of
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15 Title 68 of the Oklahoma Statutes, the excess amount shall be
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16 refunded to the taxpayer.
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17 SECTION 2. This act shall become effective November 1, 2025.
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19 60-1-1122 QD 12/20/2024 6:54:28 PM
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Req. No. 1122 Page 3Every fact on this page links to its source, starting with the official bill record.