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OK SB1394
Bill
AI Summary
- Creates a state income tax credit for individuals who receive down payment or closing cost assistance through the Oklahoma Increased Housing Program (OHFA)
- Credit amount equals the full amount of down payment and closing cost assistance received during the tax year
- Credit is fully refundable, meaning taxpayers receive the excess as a refund if the credit exceeds their tax liability
- Applies to tax year 2027 and subsequent tax years
- Effective date is November 1, 2026
Legislative Description
Income tax credit; providing credit equal to OHFA down payment and closing cost assistance. Effective date.
Last Action
Second Reading referred to Revenue and Taxation Committee then to Appropriations Committee
2/3/2026
Committee Referrals
Revenue and Taxation2/3/2026
Full Bill Text
No bill text available