SB1574

Oklahoma Affordable Housing Act increases tax credit allocation limit and sets effective date.

The Oklahoma Affordable Housing Act increases the tax credit allocation limit for certain years and sets the effective date as November 1, 2026. It raises the allocation limit to $4,000,000 for years prior to July 1, 2026, and to $8,000,000 for years starting on and after July 1, 2026. The act also mandates a five-year review by a committee of nine members to ensure the program's effectiveness.