Oklahoma 2026 Regular Session Status: Passed Senate 2 R cosponsors

SB 291 — Income tax credit; providing certain tax credit. Effective date.

Last action — Recommendation to the full committee; Do Pass Appropriations and Budget Finance Subcommittee

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill has passed the Senate. Introduced February 03, 2025. It now moves to the second chamber.

Next likely step: consideration and a floor vote in the House.

Prognosis

Advancing 50% · moderate confidence

Where this bill stands today.

Odds of enactment

Moderate

How often bills like it became law.

  • Passed Senate

    Current position in the legislative process.

  • 2 sponsors

    2 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (2 R).

  • Cleared a recorded vote

    Passed 4 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

28 added · 31 removed

Plain-language change summary

The new version of Bill SB 291 includes additional provisions that specify how funds will be certified and allocated by the State Board of Equalization, particularly emphasizing the importance of ensuring adequate contributions to the Revenue Stabilization Fund over the past five fiscal years. By clarifying these processes, the bill aims to enhance financial stability and transparency within the state’s budgeting. This change matters because it can help ensure that the state has enough reserves in times of economic uncertainty or budget shortfalls.

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Latest
SENATE FLOOR VERSION March 5, 2025 AS AMENDED SENATE BILL NO.
ENGROSSED SENATE BILL NO.
Pugh 5 [ income tax credit - duties for the State Board of Equalization - calculation - publish credit amount - revenue failure - codification - effective date ] 9 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
Pugh and Jech of the Senate and Kendrix of the House 5 [ income tax credit - duties for the State Board of Equalization - calculation - publish credit amount - revenue failure - codification - effective date ] 9 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
For any year after the first year during which a deposit to the Revenue Stabilization Fund is made, the amount of any deposit to the SENATE FLOOR VERSION - SB291 SFLR Page 1 (Bold face denotes Committee Amendments) Revenue Stabilization Fund shall be disregarded for purposes of this paragraph and the average shall be computed using the total amount of revenue that was available to be apportioned to the General Revenue Fund for the applicable period of time;
For any year after the first year during which a deposit to the Revenue Stabilization Fund is made, the amount of any deposit to the ENGR.
S.
B.
NO.
291 Page 1 Revenue Stabilization Fund shall be disregarded for purposes of this paragraph and the average shall be computed using the total amount of revenue that was available to be apportioned to the General Revenue Fund for the applicable period of time;
For any year after the first year during which a deposit to the Revenue Stabilization Fund is made, the amount of any deposit to the Revenue Stabilization Fund shall be disregarded for purposes of this paragraph and the average shall be computed using the total amount SENATE FLOOR VERSION - SB291 SFLR Page 2 (Bold face denotes Committee Amendments) of revenue that was available to be apportioned to the General Revenue Fund for the applicable period of time.
For any year after the first year during which a deposit to the Revenue Stabilization Fund is made, the amount of any deposit to the Revenue Stabilization Fund shall be disregarded for purposes of this paragraph and the average shall be computed using the total amount ENGR.
S.
NO.
291 Page 2 of revenue that was available to be apportioned to the General Revenue Fund for the applicable period of time.
B.
Seventy-five percent (75%) of such amount in excess of the five-year average, which would otherwise be apportioned to the SENATE FLOOR VERSION - SB291 SFLR Page 3 (Bold face denotes Committee Amendments) General Revenue Fund, shall be deposited to the credit of the Revenue Stabilization Fund, together with any amount required for deposit pursuant to the provisions of paragraph 1 of this subsection.
Seventy-five percent (75%) of such amount in excess of the five-year average, which would otherwise be apportioned to the ENGR.
S.
B.
NO.
291 Page 3 General Revenue Fund, shall be deposited to the credit of the Revenue Stabilization Fund, together with any amount required for deposit pursuant to the provisions of paragraph 1 of this subsection.
For calendar years where the State Board of Equalization certifies an amount pursuant to paragraph 2 of subsection D of SENATE FLOOR VERSION - SB291 SFLR Page 4 (Bold face denotes Committee Amendments) Section 34.103 of Title 62 of the Oklahoma Statutes, for the corresponding tax year, there shall be allowed a refundable credit against the tax imposed pursuant to Section 2355 of Title 68 of the Oklahoma Statutes in an amount, rounded to the nearest whole dollar, to be calculated by the Oklahoma Tax Commission by taking the amount certified by the Board pursuant to paragraph 2 of subsection D of Section 34.103 of Title 62 of the Oklahoma Statutes and dividing by the summation of the following:
For calendar years where the State Board of Equalization certifies an amount pursuant to paragraph 2 of subsection D of ENGR.
S.
B.
NO.
291 Page 4 Section 34.103 of Title 62 of the Oklahoma Statutes, for the corresponding tax year, there shall be allowed a refundable credit against the tax imposed pursuant to Section 2355 of Title 68 of the Oklahoma Statutes in an amount, rounded to the nearest whole dollar, to be calculated by the Oklahoma Tax Commission by taking the amount certified by the Board pursuant to paragraph 2 of subsection D of Section 34.103 of Title 62 of the Oklahoma Statutes and dividing by the summation of the following:
SENATE FLOOR VERSION - SB291 SFLR Page 5 (Bold face denotes Committee Amendments) D.
ENGR.
S.
B.
NO.
291 Page 5 D.
COMMITTEE REPORT BY:
Passed the Senate the 25th day of March, 2025.
COMMITTEE ON APPROPRIATIONS March 5, 2025 - DO PASS AS AMENDED 9 SENATE FLOOR VERSION - SB291 SFLR Page 6 (Bold face denotes Committee Amendments)
9 Presiding Officer of the Senate Passed the House of Representatives the ____ day of __________, 2025.
Presiding Officer of the House of Representatives ENGR.
S.
B.
NO.
291 Page 6
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How this bill changes current law

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AI-generated reading aid from the bill's amendatory text — verify against the official bill.

This bill adds a new tax credit calculation based on revenue growth certified by the State Board of Equalization and amends the existing duties of the Board regarding revenue certification.

  • 62 O.S. 2021, Section 34.103

    For any year after the first year during which a deposit to the Revenue Stabilization Fund is made, the amount of any deposit to the Revenue Stabilization Fund shall be disregarded for purposes of this paragraph and the average shall be computed using the total amount of revenue that was available to be apportioned to the General Revenue Fund for the applicable period of time;

    This provision clarifies how to calculate the average revenue for determining amounts to be deposited to the Revenue Stabilization Fund.

  • For calendar years where the State Board of Equalization certifies an amount pursuant to paragraph 2 of subsection D of Section 34.103 of Title 62 of the Oklahoma Statutes, for the corresponding tax year, there shall be allowed a refundable credit against the tax imposed pursuant to Section 2355 of Title 68 of the Oklahoma Statutes in an amount, rounded to the nearest whole dollar, to be calculated by the Oklahoma Tax Commission by taking the amount certified by the Board pursuant to paragraph 2 of subsection D of Section 34.103 of Title 62 of the Oklahoma Statutes and dividing by the summation of the following: The number of individual, married filing separate, surviving spouse, and head of household state personal income tax returns filed in the second preceding tax year, multiplied by the number one and five thousandths (1.005); and The number of married filing jointly state personal income tax returns filed in the second preceding tax year, multiplied by the number two and one hundredths (2.01).

    This introduces a new refundable tax credit based on the certified revenue growth.

  • The credit amount calculated by the Commission as provided in subsection A of this section shall be doubled for those married filing jointly.

    This change provides a larger tax credit for married couples filing jointly.

  • Within forty-five (45) days of the Board certifying an amount pursuant to paragraph 2 of subsection D of Section 34.103 of Title 62 of the Oklahoma Statutes, the Commission shall publish on its website the amount of tax credit calculated pursuant to subsection A of this section.

    This mandates the timely publication of the calculated tax credit on the Oklahoma Tax Commission's website.

  • If a revenue failure is declared pursuant to the provisions of Section 34.49 of Title 62 of the Oklahoma Statutes prior to November 1 of the calendar year corresponding to the tax year in which a tax credit is provided pursuant to this section, the tax credit shall not be provided for that tax year.

    This condition prevents the issuance of the tax credit in the event of a revenue failure.

Action History

  1. Recommendation to the full committee; Do Pass Appropriations and Budget Finance Subcommittee

  2. Referred to Appropriations and Budget Finance Subcommittee

  3. Second Reading referred to Appropriations and Budget

  4. First Reading

  5. Engrossed to House

  6. Referred for engrossment

  7. Measure passed: Ayes: 37 Nays: 8

  8. General Order, Considered

  9. Coauthored by Senator Jech

  10. Coauthored by Representative Kendrix (principal House author)

  11. Placed on General Order

  12. Title stricken

  13. Reported Do Pass as amended Appropriations committee; CR filed

  14. Referred to Appropriations

  15. Reported Do Pass Revenue and Taxation committee; CR filed

  16. Second Reading referred to Revenue and Taxation Committee then to Appropriations Committee

  17. Authored by Senator Pugh

  18. First Reading

Sponsors

Sponsorship breakdown

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2 sponsors · 0 co-sponsors · 149 not signed on · 10 voted No

Sponsors (2)

Co-sponsors (0)

None.

Not signed on (149)

149 members have not signed on to this bill.

Show all 149 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Third Reading

Passed 37 Yea · 8 Nay · 2 Other
Party YeaNayPresentNot Voting
Republican 37002
Democrat 0800
Total 37802
% of votes cast 79%17%0%4%
How each member voted (47)
Member Party Vote
Carri Hicks Democrat Nay
Jo Anna Dossett Democrat Nay
Julia Kirt Democrat Nay
Mark Mann Democrat Nay
Mary B. Boren Democrat Nay
Michael Brooks Democrat Nay
Nikki Nice Democrat Nay
Regina Goodwin Democrat Nay
Aaron Reinhardt Republican Yea
Adam Pugh Republican Yea
Ally Seifried Republican Yea
Avery Frix Republican Yea
Bill Coleman Republican Yea
Brenda Stanley Republican Yea
Brent Howard Republican Yea
Brian Guthrie Republican Yea
Casey Murdock Republican Not Voting
Christi Gillespie Republican Yea
Chuck Hall Republican Yea
Dana Prieto Republican Yea
Darcy Jech Republican Yea
Dave Rader Republican Yea
David Bullard Republican Not Voting
District 24 Republican Yea
Dusty Deevers Republican Yea
George Burns Republican Yea
Grant Green Republican Yea
Jack Stewart Republican Yea
Jerry Alvord Republican Yea
John Haste Republican Yea
Jonathan Wingard Republican Yea
Julie Daniels Republican Yea
Julie McIntosh Republican Yea
Kelly Hines Republican Yea
Kendal Sacchieri Republican Yea
Kristen Thompson Republican Yea
Lisa Standridge Republican Yea
Lonnie Paxton Republican Yea
Micheal Bergstrom Republican Yea
Paul Rosino Republican Yea
Randy Grellner Republican Yea
Roland Pederson Republican Yea
Shane Jett Republican Yea
Spencer Kern Republican Yea
Todd Gollihare Republican Yea
Tom Woods Republican Yea
Warren Hamilton Republican Yea

Official roll call →

Appropriations

Passed 18 Yea · 4 Nay
Party YeaNayPresentNot Voting
Republican 18000
Democrat 0400
Unaffiliated 0001
Total 18401
% of votes cast 78%17%0%4%
How each member voted (23)
Member Party Vote
STRIKE THE TITLE - ADOPTED — Not Voting
Carri Hicks Democrat Nay
Jo Anna Dossett Democrat Nay
Julia Kirt Democrat Nay
Regina Goodwin Democrat Nay
Aaron Reinhardt Republican Yea
Adam Pugh Republican Yea
Ally Seifried Republican Yea
Brenda Stanley Republican Yea
Brent Howard Republican Yea
Casey Murdock Republican Yea
Dana Prieto Republican Yea
Darcy Jech Republican Yea
Dave Rader Republican Yea
District 24 Republican Yea
Grant Green Republican Yea
Jack Stewart Republican Yea
John Haste Republican Yea
Kendal Sacchieri Republican Yea
Kristen Thompson Republican Yea
Paul Rosino Republican Yea
Roland Pederson Republican Yea
Tom Woods Republican Yea

Official roll call →

Do Pass

Passed 9 Yea · 2 Nay
Party YeaNayPresentNot Voting
Republican 9000
Democrat 0200
Total 9200
% of votes cast 82%18%0%0%
How each member voted (11)
Member Party Vote
Julia Kirt Democrat Nay
Mark Mann Democrat Nay
Brent Howard Republican Yea
Christi Gillespie Republican Yea
Chuck Hall Republican Yea
Dave Rader Republican Yea
Dusty Deevers Republican Yea
Kendal Sacchieri Republican Yea
Shane Jett Republican Yea
Todd Gollihare Republican Yea
Warren Hamilton Republican Yea

Official roll call →

Subjects

taxation
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Frequently asked questions

Who sponsors SB 291?
SB 291 is sponsored by Adam Pugh (Republican) and Gerrid Kendrix (Republican).
What is the current status of SB 291?
This bill has passed the Senate. Introduced February 03, 2025. It now moves to the second chamber.
Where can I track SB 291?
Track SB 291 free on One Click Politics — get push/email alerts when it moves.

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