SB475 Summary

• Amends Section 205 of the Oklahoma Tax Code to allow disclosure of information about clean-burning motor fuel property tax credits claimed under Section 2357.22, adding this as exception 34 to confidentiality rules.

• Requires the Oklahoma Tax Commission to verify upon individual request whether a clean-burning motor vehicle fuel property tax credit has been previously claimed for a specific vehicle identified by its vehicle identification number.

• Updates the clean-burning motor vehicle fuel property tax credit law to clarify that hydrogen fuel cell eligibility is effective July 1, 2023 (changing from "effective date of this act").

• Establishes annual credit limits for tax years 2023-2028: $10 million each for compressed natural gas/liquefied gas properties, hydrogen fuel cell properties, and public electric vehicle recharging systems.

• Becomes effective November 1, 2025.