OK HB2087

Modifies income tax credits for donations to independent biomedical research institutes and cancer research institutes, with changes taking effect for tax year 2026

Reduces total annual credit cap from $2,000,000 (combined) to $1,500,000 for biomedical research institutes and $500,000 for cancer research institutes

Increases individual credit limits for tax year 2026 onward: up to $1,000 for single/married filing separate, $2,000 for married filing joint/head of household/qualifying widow, and $25,000 for business entities donating to biomedical research institutes

Raises the minimum National Institutes of Health funding requirement for qualifying independent biomedical research institutes from $15,000,000 to $20,000,000 annually

Effective date: November 1, 2025