All Roll Calls
Yes: 142 • No: 40
OklahomaSB 1992Oklahoma 2026 Regular SessionSenateWALLET
Income tax credit; defining "strategic finance partner." Effective date.
Sponsored By: Chuck Hall (Republican)
Signed by Governor
Senate Committee
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 0 benefits, 0 costs, 3 mixed.
Assign credits to partners with approval
If you do not use a credit, you can assign it to a customer, vendor, investor, or strategic finance partner. The partner must be subject to Oklahoma income tax. Sign a written assignment in the tax year earned or within five years after, and jointly file it with the Tax Commission within 30 days. The Commerce Department can pre-approve spending and a strategic finance partner and issues a completion certificate; the Tax Commission sets forms and certifies credit amounts each year. These processes apply beginning November 1, 2026.
Tax credits for Oklahoma business projects
Beginning November 1, 2026, Oklahoma offers a project income tax credit. You get up to 10% of qualified economic development costs and 50% of qualified initial infrastructure costs. Each project is capped at $6 million for economic development, $3 million for initial infrastructure, and $6 million total. The Department of Commerce allocates credits and cannot allocate more than $12 million statewide each tax year. The program applies to tax years that begin after December 31, 2022 and end by December 31, 2027.
Carry forward credits, but no refunds
These credits are nonrefundable. You cannot use them to reduce tax below zero or get a refund. If you have leftover credit, you can carry it forward for up to five later tax years. These rules apply under the program beginning November 1, 2026.
Sponsors & Cosponsors
Sponsor
Chuck Hall
Republican • Senate
Cosponsors
Trey Caldwell
Republican • House
Roll Call Votes
House vote • 4/13/2026
THIRD READING
Yes: 65 • No: 24
House vote • 4/7/2026
DO PASS
Yes: 27 • No: 2
Senate vote • 3/23/2026
THIRD READING
Yes: 30 • No: 14
Senate vote • 2/25/2026
Committee vote: Appropriations
Yes: 20 • No: 0
Actions Timeline
Approved by Governor 04/17/2026
4/20/2026SenateSent to Governor
4/14/2026SenateSigned, returned to Senate
4/14/2026HouseEnrolled, to House
4/14/2026SenateReferred for enrollment
4/13/2026SenateSigned, returned to Senate
4/13/2026HouseThird Reading, Measure passed: Ayes: 65 Nays: 24
4/13/2026HouseGeneral Order
4/13/2026HouseCR; Do Pass Appropriations and Budget Committee
4/8/2026HouseSecond Reading referred to Appropriations and Budget
3/30/2026HouseFirst Reading
3/24/2026HouseEngrossed to House
3/24/2026SenateReferred for engrossment
3/23/2026SenateMeasure passed: Ayes: 30 Nays: 14
3/23/2026SenateTitle restored
3/23/2026SenateGeneral Order, Amended
3/23/2026SenatePlaced on General Order
3/2/2026SenateTitle stricken
2/25/2026SenateReported Do Pass as amended Appropriations committee; CR filed
2/25/2026SenateCoauthored by Representative Caldwell (Trey) (principal House author)
2/11/2026SenateSecond Reading referred to Appropriations
2/3/2026SenateAuthored by Senator Hall
2/2/2026SenateFirst Reading
2/2/2026Senate
Bill Text
Enrolled (final version)
4/14/2026
Floor (House)
4/8/2026
House Committee Report
4/8/2026
Engrossed
3/24/2026
Floor (Senate)
2/26/2026
Senate Committee Report
2/25/2026
Introduced
1/15/2026
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