All Roll Calls
Yes: 33 • No: 12
OklahomaSB 2018Oklahoma 2026 Regular SessionSenateWALLET
Ad valorem tax; prescribing valuation method for certain real property for certain period. Effective date.
Sponsored By: Kristen Thompson (Republican)
Signed by Governor
Senate Committee
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
New valuation rule for large rentals
Starting November 1, 2026, “residential rental housing” means a single tax parcel with at least 20 rental units or at least 20 rental structures. Properties that receive the federal low‑income housing tax credit are excluded. Beginning January 1, 2027, when these properties are placed on the tax rolls, county assessors must use the cost method to set fair cash value. This applies for the first two tax years after construction is finished, or ends sooner if sold to an unrelated bona fide buyer. Using the cost method can lower assessed value and property tax in those early years.
Sponsors & Cosponsors
Sponsor
Kristen Thompson
Republican • Senate
Cosponsors
Chris Kannady
Republican • House
Suzanne Schreiber
Democratic • House
Roll Call Votes
House vote • 4/21/2026
DO PASS
Yes: 24 • No: 0
House vote • 4/8/2026
DO PASS
Yes: 9 • No: 0
Senate vote • 3/26/2026
THIRD READING
Yes: 0 • No: 11
Senate vote • 2/24/2026
Top_of_Page
Yes: 0 • No: 1
Actions Timeline
Approved by Governor 05/11/2026
5/12/2026SenateSent to Governor
5/6/2026SenateSigned, returned to Senate
5/6/2026HouseEnrolled, to House
5/6/2026SenateReferred for enrollment
5/5/2026SenateSigned, returned to Senate
5/5/2026HouseThird Reading, Measure passed: Ayes: 82 Nays: 5
5/5/2026HouseGeneral Order
5/5/2026HouseCoauthored by Representative(s) Schreiber
4/23/2026HouseCR; Do Pass Appropriations and Budget Committee
4/23/2026HouseRecommendation to the full committee; Do Pass Appropriations and Budget Finance Subcommittee
4/13/2026HouseReferred to Appropriations and Budget Finance Subcommittee
4/2/2026HouseSecond Reading referred to Appropriations and Budget
3/31/2026HouseFirst Reading
3/30/2026HouseEngrossed to House
3/30/2026SenateReferred for engrossment
3/26/2026SenateMeasure passed: Ayes: 31 Nays: 11
3/26/2026SenateTitle restored
3/26/2026SenateGeneral Order, Amended
3/26/2026SenatePlaced on General Order
2/26/2026SenateCoauthored by Representative Kannady (principal House author)
2/25/2026SenateTitle stricken
2/24/2026SenateReported Do Pass, amended by committee substitute Economic Development, Workforce and Tourism committee; CR filed
2/24/2026SenateReferred to Economic Development, Workforce and Tourism
2/3/2026SenateWithdrawn from Revenue and Taxation committee
2/3/2026Senate
Bill Text
Enrolled (final version)
5/6/2026
Floor (House)
4/23/2026
House Committee Report
4/23/2026
House Committee Report
4/8/2026
Engrossed
3/30/2026
Floor (Senate)
2/25/2026
Committee Substitute
2/24/2026
Senate Committee Report
2/24/2026
Introduced
1/15/2026
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