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OklahomaHB 2894Oklahoma 2026 Regular SessionHouseWALLET

Oklahoma Rural Jobs Act; cap on capital investment tax credits; authorizing and limiting additional participation in program under certain conditions.

Sponsored By: Trey Caldwell (Republican)

Became Law

Senate Committee

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

Rural funds can seek another approval

Rural funds certified for applications approved before this law's effective date can receive certification for another application submitted afterward. Before investing, a fund can ask Oklahoma's Department of Commerce for a written ruling on whether a business qualifies. Commerce must respond within 15 business days after receiving the request. If Commerce has not responded by the 20th business day, the business is treated as eligible.

Caps and funding rules for rural investors

Oklahoma's Department of Commerce must limit approved investments under the Oklahoma Rural Jobs Act to meet two yearly tax-credit caps. Applications approved before this law's effective date have a $15 million calendar-year cap. Applications approved on or after that date have a separate $15 million cap. Credits carried forward from earlier years do not count toward either cap. Within 90 days of certification notice, rural funds must issue the investment and receive the full certified amount in cash. At least 10% of the investor's capital must come from money it raises directly or indirectly, including from its insiders or affiliates. That portion excludes money paid by the party receiving the tax-credit allocation in exchange for those credits. Funds must submit proof of receiving the cash within 95 days of certification notice. Missing the funding and issuance deadline cancels certification; the fund must reapply before issuing the investment. Canceled allocations return to Commerce for proportional redistribution to applicants whose allocations were reduced during the application process.

Sponsors & Cosponsors

Sponsor

  • Trey Caldwell

    Republican • House

Cosponsors

  • Brent Howard

    Republican • Senate

  • Remove as author Senator Thompson and substitute with Senator Howard Remove Representative Townley as principal House author and substitute with Representative Caldwell (Trey) Add as coauthor Representative Townley

    Affiliation unavailable

  • Tammy Townley

    Republican • House

Roll Call Votes

All Roll Calls

Yes: 307 • No: 121

House vote • 5/6/2026

FOURTH READING

Yes: 59 • No: 33

Senate vote • 4/28/2026

THIRD READING

Yes: 34 • No: 10

Senate vote • 4/14/2025

Committee vote: Revenue & Taxation

Yes: 7 • No: 4

Senate vote • 4/14/2025

Top_of_Page

Yes: 0 • No: 4

Senate vote • 4/8/2025

Committee vote: Economic Development, Workforce & Tourism

Yes: 7 • No: 0

Senate vote • 4/8/2025

Top_of_Page

Yes: 0 • No: 0

House vote • 3/26/2025

Top_of_Page

Yes: 63 • No: 31

House vote • 3/26/2025

THIRD READING

Yes: 63 • No: 31

House vote • 3/5/2025

DO PASS

Yes: 30 • No: 2

House vote • 3/5/2025

DO PASS

Yes: 30 • No: 2

House vote • 2/20/2025

DO PASS

Yes: 7 • No: 2

House vote • 2/20/2025

DO PASS

Yes: 7 • No: 2

Actions Timeline

  1. Becomes law without Governor's signature 05/13/2026

    5/13/2026House

  2. Sent to Governor

    5/6/2026House

  3. Enrolled measure signed, returned to House

    5/6/2026Senate

  4. Enrolled, signed, to Senate

    5/6/2026House

  5. Referred for enrollment

    5/6/2026House

  6. Fourth Reading, Measure passed: Ayes: 59 Nays: 33

    5/6/2026House

  7. SA's read, adopted

    5/6/2026House

  8. SA's received

    4/28/2026House

  9. Engrossed to House

    4/28/2026Senate

  10. Referred for engrossment

    4/28/2026Senate

  11. Measure passed: Ayes: 34 Nays: 10

    4/28/2026Senate

  12. General Order, Amended by Floor Substitute

    4/28/2026Senate

  13. Coauthored by Representative Townley

    4/7/2026Senate

  14. remove as principal author Representative Townley and substitute with Representative Caldwell (Trey)

    4/7/2026Senate

  15. Remove as author Senator Thompson; authored by Senator Howard

    4/2/2026Senate

  16. Placed on General Order

    4/16/2025Senate

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

    4/14/2025Senate

  18. Referred to Revenue and Taxation

    4/8/2025Senate

  19. Reported Do Pass Economic Development, Workforce and Tourism committee; CR filed

    4/8/2025Senate

  20. Second Reading referred to Economic Development, Workforce and Tourism Committee then to Revenue and Taxation Committee

    4/1/2025Senate

  21. First Reading

    3/27/2025Senate

  22. Engrossed, signed, to Senate

    3/27/2025House

  23. Referred for engrossment

    3/26/2025House

  24. Third Reading, Measure passed: Ayes: 63 Nays: 31

    3/26/2025House

  25. General Order

    3/26/2025House

Bill Text

  • Enrolled (final version)

    5/6/2026

    PDF

  • Amended And Engrossed

    4/28/2026

    PDF

  • Floor (Senate)

    4/15/2025

    PDF

  • Senate Committee Report 2

    4/14/2025

    PDF

  • Senate Committee Report 1

    4/8/2025

    PDF

  • Engrossed

    3/27/2025

    PDF

  • Floor (House)

    3/10/2025

    PDF

  • House Committee Report

    3/6/2025

    PDF

  • House Committee Substitute

    3/6/2025

    PDF

  • House Committee Report

    2/27/2025

    PDF

  • Introduced

    1/17/2025

    PDF

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