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
1
2 1st Session of the 60th Legislature (2025)
2
3 SENATE BILL 627 By: Nice
3
4
4
5
5
6 AS INTRODUCED
6
7 An Act relating to storm shelters; authorizing
7 establishment of certain standards; establishing
8 certain tax credit; stating provisions for certain
8 tax credit; prohibiting certain use; authorizing
9 promulgation of rules; providing for codification;
9 and providing an effective date.
10
10
11
11
12 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
12
13 SECTION 1. NEW LAW A new section of law to be codified
13
14 in the Oklahoma Statutes as Section 1000.31 of Title 59, unless
14
15 there is created a duplication in numbering, reads as follows:
15
16 The Oklahoma Uniform Building Code Commission is authorized to
16
17 establish standards for multiunit housing development building
17
18 codes. Such standards shall include the installation of storm
18
19 shelters designed for protection and safety from tornadoes or
19
20 tornadic winds in such multiunit housing developments, built on or
20
21 after the effective date of this act, that meet recommendations set
21
22 by the Federal Emergency Management Agency. Such shelters shall
22
23 include, but not be limited to, a safe room built as part of and
23
24
24
Req. No. 1387 Page 1
1 within real property, an in-ground shelter, or a prefabricated
1
2 shelter that is installed.
2
3 SECTION 2. NEW LAW A new section of law to be codified
3
4 in the Oklahoma Statutes as Section 2357.417 of Title 68, unless
4
5 there is created a duplication in numbering, reads as follows:
5
6 A. For tax year 2026 and subsequent tax years, there shall be
6
7 allowed a credit against the tax imposed pursuant to Section 2355 of
7
8 Title 68 of the Oklahoma Statutes, for expenditures to purchase,
8
9 construct, and install a storm shelter designed for protection and
9
10 safety from tornadoes or tornadic winds including, but not limited
10
11 to, a safe room built as part of and within an improvement to real
11
12 property, an in-ground shelter, and a prefabricated shelter that is
12
13 installed.
13
14 B. The credit authorized pursuant to subsection A of this
14
15 section shall be in the following amount:
15
16 1. For expenditures to construct or install a storm shelter in
16
17 or at a single-family residence, twenty-five percent (25%) of
17
18 expenditures;
18
19 2. For expenditures to construct or install a storm shelter in
19
20 or at multi-family housing units that have already been constructed
20
21 and placed into service, twenty-five percent (25%) of expenditures;
21
22 and
22
23
23
24
24
Req. No. 1387 Page 2
1 3. For expenditures to construct or install a storm shelter in
1
2 or at multi-family housing units during the construction of the
2
3 units, twenty percent (20%) of expenditures.
3
4 C. For any taxpayer that is a business entity formed under the
4
5 laws of any state, including limited and general partnerships,
5
6 corporations, and limited liability companies, the credit claimed
6
7 pursuant to the provisions of this section shall not exceed Five
7
8 Hundred Thousand Dollars ($500,000.00) in any tax year.
8
9 D. For any taxpayer that is a business entity formed under the
9
10 laws of any state, including limited and general partnerships,
10
11 corporations, and limited liability companies, the credit authorized
11
12 pursuant to the provisions of this section shall not be used to
12
13 reduce the income tax liability of the taxpayer to less than zero
13
14 (0). For individual taxpayers, if the credit allowed pursuant to
14
15 this section exceeds the tax imposed by Section 2355 of Title 68 of
15
16 the Oklahoma Statutes, the excess amount shall be refunded to the
16
17 taxpayer.
17
18 E. For any taxpayer that is a business entity formed under the
18
19 laws of any state, including limited and general partnerships,
19
20 corporations, and limited liability companies, if the amount of the
20
21 credit allowed pursuant to the provisions of this section exceeds
21
22 the income tax liability, the amount of credit not used in any tax
22
23 year may be carried forward, in order, to each of the five (5)
23
24 subsequent tax years.
24
Req. No. 1387 Page 3
1 F. The credit authorized pursuant to this section shall be made
1
2 on a form prescribed by the Oklahoma Tax Commission. The Commission
2
3 may promulgate rules to prescribe procedures for documenting
3
4 expenditures that qualify for the credit pursuant to the provisions
4
5 of this section.
5
6 SECTION 3. This act shall become effective November 1, 2025.
6
7
7
8 60-1-1387 CN 1/19/2025 5:40:18 AM
8
9
9
10
10
11
11
12
12
13
13
14
14
15
15
16
16
17
17
18
18
19
19
20
20
21
21
22
22
23
23
24
24
Req. No. 1387 Page 4Every fact on this page links to its source, starting with the official bill record.