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SB1394

Income tax credit; providing credit equal to OHFA down payment and closing cost assistance. Effective date.

Introduced·2/2/26
Int Text

Oklahoma SB1394 provides an income tax credit for individuals receiving housing assistance.

Oklahoma SB1394 introduces an income tax credit for individuals who receive down payment or closing cost assistance from the Oklahoma Increased Housing Program. The credit amount is equal to the assistance received and is applicable for tax year 2027 and subsequent years. This credit is codified in the Oklahoma Statutes as Section 2357.701 of Title 68.

Included in complete analysis

  • Overview
  • Core Provisions
  • Implementation
  • Impact
  • Legal Framework
  • Critical Issues

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Where it stands

Current
Revenue and Taxation Committee
Next
Committee decision

Sponsors

D
1
0
Democratic CaucusRepublican Caucus

History

Feb 3

Senate

Second Reading referred to Revenue and Taxation Committee then to Appropriations Committee

Feb 2

Senate

First Reading

Feb 2

Senate

Authored by Senator Kirt