OK SB291

Creates a refundable income tax credit for Oklahoma taxpayers when state revenue growth exceeds 10%, with the credit amount calculated from revenues exceeding 5 percentage points of growth divided among all tax filers

Requires the State Board of Equalization to certify revenue growth percentages annually at February meetings beginning in 2026, and to calculate excess revenue amounts when the 10% threshold is exceeded

Doubles the credit amount for married couples filing jointly compared to single filers, with the Oklahoma Tax Commission required to publish credit amounts on its website within 45 days of Board certification

Cancels the tax credit for any year in which a revenue failure is declared prior to November 1 of that calendar year

Becomes effective November 1, 2025