Bill > SB51

This bill introduces a new income tax credit for the purchase of an e-bike, which is defined as a two-wheeled or three-wheeled electric vehicle capable of speeds over 15 miles per hour (excluding electric scooters that transport a person while standing). Beginning in tax year 2026, taxpayers can claim a one-time $200 credit against their Oklahoma state income tax for purchasing an e-bike. Importantly, if the tax credit amount exceeds the taxpayer's total tax liability, the excess credit will be refunded to the taxpayer, making it a fully refundable credit. The bill specifies that this credit applies to e-bikes primarily designed for use on streets, roads, and highways, and will become effective on November 1, 2025. The legislation aims to incentivize the purchase of electric bicycles by providing a financial benefit to Oklahoma taxpayers who choose to buy them.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb51&Session=2600