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 288 By: Jett
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6 AS INTRODUCED
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7 An Act relating to income tax; providing credit for
7 members of the Oklahoma National Guard that purchase
8 a home; providing amount of credit; providing limit
8 for credit; requiring the Oklahoma Tax Commission to
9 prescribe certain form; making credit refundable;
9 limiting credit claims per individual; authorizing
10 the Tax Commission to promulgate rules; providing for
10 codification; and providing an effective date.
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13 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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14 SECTION 1. NEW LAW A new section of law to be codified
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15 in the Oklahoma Statutes as Section 2357.701 of Title 68, unless
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16 there is created a duplication in numbering, reads as follows:
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17 A. For tax year 2026 and subsequent tax years, there shall be
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18 allowed against the tax imposed by Section 2355 of Title 68 of the
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19 Oklahoma Statutes a credit for individuals that are members of the
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20 Oklahoma Army National Guard or Oklahoma Air National Guard who
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21 purchase a residence in this state.
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22 B. The credit authorized shall be equal to the down payment and
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23 closing costs associated with the purchase not to exceed Four
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24 Thousand Dollars ($4,000.00). The Oklahoma Tax Commission shall
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Req. No. 1559 Page 1
1 provide a form for individuals to apply for the credit and submit
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2 verification of down payment and payment of closing costs.
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3 C. The credit provided by this section shall be refundable. No
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4 more than one credit provided by this section shall be claimed by an
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5 individual.
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6 D. The Oklahoma Tax Commission may promulgate rules to
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7 effectuate the provisions of this section.
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8 SECTION 2. This act shall become effective November 1, 2025.
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10 60-1-1559 QD 12/30/2024 11:17:55 PM
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Req. No. 1559 Page 2Every fact on this page links to its source, starting with the official bill record.