OklahomaHB 4426Oklahoma 2026 Regular SessionHouseWALLET

Revenue and taxation; income tax; income tax credit for qualified economic development expenditures; effective date.

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Bill Overview

Analyzed Economic Effects

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

Tax credits for Oklahoma business projects

The law gives state income tax credits to Oklahoma businesses that build or expand in certain locations. Beginning November 1, 2026, credits apply to tax years after December 31, 2022 through December 31, 2032. You can get 10% back on approved economic development costs like land work, buildings, and equipment. You can get 50% back on approved initial infrastructure like rail lines, spurs, switches, loading docks, and transload structures. Projects must be in an industrial park, zone, or port in a county under 100,000 people, or next to a terminal, switching, or Class II or III railroad.

Caps and rules for claiming credits

Each project has limits: up to $6,000,000 for economic development credits and up to $3,000,000 for initial infrastructure. If a project has both, the total credit cannot exceed $6,000,000. Statewide, Commerce can allocate no more than $12,000,000 in credits each year. Projects not fully allocated can receive credits in later years. Credits are nonrefundable and cannot reduce your Oklahoma tax bill below zero. Unused credits can be carried forward for five years. Unused credits can also be assigned to a qualifying project partner during the year earned or within five years; a signed agreement must be filed with the Tax Commission within 30 days. Commerce approves costs before work starts and verifies completion; the Tax Commission certifies credit amounts and sets the rules and forms.

Sponsors & Cosponsors

Sponsor

Kyle Hilbert
Republican • House

Cosponsors

Chuck Hall
Republican • Senate
Brian Hill
Republican • House

Roll Call Votes

All Roll Calls

Yes: 140 • No: 38

Senate vote • 4/29/2026

THIRD READING

Yes: 28 • No: 14

Senate vote • 4/6/2026

Top_of_Page

Yes: 0 • No: 2

Senate vote • 4/6/2026

Committee vote: Revenue & Taxation

Yes: 7 • No: 2

House vote • 2/24/2026

THIRD READING

Yes: 76 • No: 20

House vote • 2/17/2026

DO PASS

Yes: 29 • No: 0

Actions Timeline

Approved by Governor 05/05/2026
5/6/2026House
Sent to Governor
4/30/2026House
Enrolled measure signed, returned to House
4/30/2026Senate
Enrolled, signed, to Senate
4/30/2026House
Referred for enrollment
4/30/2026House
Engrossed measure signed, returned to House
4/29/2026Senate
Measure passed: Ayes: 28 Nays: 14
4/29/2026Senate
General Order, Considered
4/29/2026Senate
Placed on General Order
4/8/2026Senate
Reported Do Pass Revenue and Taxation committee; CR filed
4/6/2026Senate
Second Reading referred to Revenue and Taxation
4/1/2026Senate
First Reading
2/25/2026Senate
Engrossed, signed, to Senate
2/25/2026House
Referred for engrossment
2/24/2026House
Third Reading, Measure passed: Ayes: 76 Nays: 20
2/24/2026House
Authored by Senator Hall (principal Senate author)
2/24/2026House
Coauthored by Representative(s) Hill
2/24/2026House
General Order
2/24/2026House
CR; Do Pass Appropriations and Budget Committee
2/18/2026House
Second Reading referred to Appropriations and Budget
2/3/2026House
Authored by Representative Hilbert
2/2/2026House
First Reading
2/2/2026House

Bill Text

Enrolled (final version)
4/30/2026
PDF
Floor (Senate)
4/7/2026
PDF
Senate Committee Report
4/6/2026
PDF
Engrossed
2/25/2026
PDF
Floor (House)
2/20/2026
PDF
House Committee Report
2/18/2026
PDF
Introduced
1/15/2026
PDF

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