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Bill > HB3846
OK HB3846
OK HB3846Revenue and taxation; ad valorem taxation; exemptions; affordable housing projects; effective date.
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 revenue and taxation; amending 68 O.S. 2021, Section 2887, as amended by Section 1, Chapter 260, O.S.L. 2023 (68 O.S. Supp. 2025, Section 2887, which relates to ad valorem tax exemptions; modifying provisions related to certain property developed or operated as an affordable housing project; and providing an effective date.
AI Summary
This bill modifies existing Oklahoma law regarding property tax exemptions, specifically for certain properties developed or operated as affordable housing projects. The key change involves amending Section 2887 of Title 68 of the Oklahoma Statutes to include a provision that allows for property tax exemptions for affordable housing projects that are constructed, developed, or operated as such and are financed, in whole or in part, through low-income housing tax credits (LIHTC), which are federal tax credits authorized by the Tax Reform Act of 1986 to encourage the development of affordable housing. The bill also specifies an effective date of November 1, 2026.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to Appropriations and Budget General Government Subcommittee (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=hb3846&Session=2600 |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/hB/HB3846%20INT.PDF |
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