Bill
Bill > SB1986
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/03/2026
02/03/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act relating to income tax; amending 68 O.S. 2021, Section 2358, as last amended by Section 155, Chapter 452, O.S.L. 2024 (68 O.S. Supp. 2025, Section 2358), which relates to adjustments; exempting certain income from taxable income; defining term; updating statutory language; updating statutory references; and providing an effective date.
AI Summary
This bill amends Oklahoma's income tax laws to adjust how taxable income is calculated, primarily by modifying existing provisions related to deductions and exemptions. It clarifies and updates references to federal tax laws, specifically the Internal Revenue Code of 1986, as amended, and makes minor wording changes for clarity, such as replacing "Federal" with "United States" and "State" with "Oklahoma" in certain contexts. The bill also includes an effective date of November 1, 2026, meaning these changes will apply to tax years beginning on or after that date.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Second Reading referred to Revenue and Taxation Committee then to Appropriations Committee (on 02/03/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1986&Session=2600 |
| Fiscal Note/Analysis - Senate: Introduced | https://www.oklegislature.gov/cf_pdf/2025-26%20SUPPORT%20DOCUMENTS/BILLSUM/Senate/SB1986%20INT%20BILLSUM.PDF |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/SB/SB1986%20INT.PDF |
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