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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

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

Cost-only valuation for new large rentals

Beginning January 1, 2027, county assessors use only the cost approach to value qualifying residential rental housing. This lasts for the first two tax years after construction is complete, or ends sooner if the property is sold to an unrelated bona fide buyer. The rule applies when the property is first placed on the tax rolls. "Residential rental housing" means a single tax-parcel development with at least 20 rental units or at least 20 rental buildings. Properties that receive the federal low‑income housing tax credit do not qualify.

Law starts November 1, 2026

The law takes effect on November 1, 2026. If a part names a later date, that later date controls for that part.

Sponsors & Cosponsors

Sponsor

  • Kristen Thompson

    Republican • Senate

Cosponsors

  • Chris Kannady

    Republican • House

  • Suzanne Schreiber

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 153 • No: 17

House vote • 5/5/2026

THIRD READING

Yes: 82 • No: 5

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: 31 • No: 11

Senate vote • 2/24/2026

Committee vote: Economic Development, Workforce & Tourism

Yes: 7 • No: 1

Actions Timeline

  1. Approved by Governor 05/11/2026

    5/12/2026Senate

  2. Sent to Governor

    5/6/2026Senate

  3. Signed, returned to Senate

    5/6/2026House

  4. Enrolled, to House

    5/6/2026Senate

  5. Referred for enrollment

    5/5/2026Senate

  6. Signed, returned to Senate

    5/5/2026House

  7. Third Reading, Measure passed: Ayes: 82 Nays: 5

    5/5/2026House

  8. General Order

    5/5/2026House

  9. Coauthored by Representative(s) Schreiber

    4/23/2026House

  10. CR; Do Pass Appropriations and Budget Committee

    4/23/2026House

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

    4/13/2026House

  12. Referred to Appropriations and Budget Finance Subcommittee

    4/2/2026House

  13. Second Reading referred to Appropriations and Budget

    3/31/2026House

  14. First Reading

    3/30/2026House

  15. Engrossed to House

    3/30/2026Senate

  16. Referred for engrossment

    3/26/2026Senate

  17. Measure passed: Ayes: 31 Nays: 11

    3/26/2026Senate

  18. Title restored

    3/26/2026Senate

  19. General Order, Amended

    3/26/2026Senate

  20. Placed on General Order

    2/26/2026Senate

  21. Coauthored by Representative Kannady (principal House author)

    2/25/2026Senate

  22. Title stricken

    2/24/2026Senate

  23. Reported Do Pass, amended by committee substitute Economic Development, Workforce and Tourism committee; CR filed

    2/24/2026Senate

  24. Referred to Economic Development, Workforce and Tourism

    2/3/2026Senate

  25. Withdrawn from Revenue and Taxation committee

    2/3/2026Senate

Bill Text

  • Enrolled (final version)

    5/6/2026

    PDF

  • Floor (House)

    4/23/2026

    PDF

  • House Committee Report

    4/23/2026

    PDF

  • House Committee Report

    4/8/2026

    PDF

  • Engrossed

    3/30/2026

    PDF

  • Floor (Senate)

    2/25/2026

    PDF

  • Committee Substitute

    2/24/2026

    PDF

  • Senate Committee Report

    2/24/2026

    PDF

  • Introduced

    1/15/2026

    PDF

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