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 2nd Session of the 60th Legislature (2026)
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3 SENATE BILL 1394 By: Kirt
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6 AS INTRODUCED
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7 An Act relating to income tax credit; providing
7 credit for individuals who receive certain housing
8 assistance; prescribing credit amount; making credit
8 refundable; providing for codification; and providing
9 an effective date.
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11 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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12 SECTION 1. NEW LAW A new section of law to be codified
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13 in the Oklahoma Statutes as Section 2357.701 of Title 68, unless
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14 there is created a duplication in numbering, reads as follows:
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15 A. For tax year 2027 and subsequent tax years, there shall be
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16 allowed against the tax imposed by Section 2355 of Title 68 of the
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17 Oklahoma Statutes, a credit for any individual who receives down
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18 payment or closing cost assistance provided by the Oklahoma
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19 Increased Housing Program pursuant to Section 2903.3 of Title 74 of
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20 the Oklahoma Statutes. The credit allowed shall be equal to the
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21 amount of down payment and closing cost assistance received by the
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22 individual during the applicable tax year.
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Req. No. 3100 Page 1
1 B. If the credit exceeds the tax imposed by Section 2355 of
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2 Title 68 of the Oklahoma Statutes, the excess amount shall be
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3 refunded to the taxpayer.
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4 SECTION 2. This act shall become effective November 1, 2026.
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6 60-2-3100 QD 12/30/2025 10:41:23 PM
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Req. No. 3100 Page 2Every fact on this page links to its source, starting with the official bill record.