HB 2410 Summary

• Increases total annual Oklahoma Affordable Housing Tax Credits allocation from $4,000,000 to $10,000,000 until December 31, 2029, then returns to $4,000,000 until December 31, 2035.

• Makes the Oklahoma Affordable Housing Tax Credit nonrefundable, preventing taxpayers from using credits to reduce tax liability below zero.

• Allows taxpayers to carry forward unused credits for two subsequent taxable years.

• Requires the Oklahoma Housing Finance Agency to conduct a review of the Affordable Housing Act every five years through a committee of nine persons appointed by the Governor, President Pro Tempore of the Senate, and Speaker of the House.

• Becomes effective January 1, 2026.