Oklahoma SB101 provides income tax credits for housing expenses based on household income and number of dependents.
Oklahoma SB101 introduces an income tax credit for housing expenses, varying by household income and number of dependents. For tax year 2026 and beyond, eligible taxpayers can claim credits ranging from $1,000 to $7,000. The credit is refundable if it exceeds the tax owed. The credit is limited to one per residence per tax year. The state median income is defined by the U.S. Department of Housing and Urban Development. The act becomes effective November 1, 2025.
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