Transcript Highlights:

• Well, good morning, everybody, and welcome back to Finance and Tax.
• House Bill 1382, which is the gas tax.
• So the intent is that the gas tax then would apply to all of those in oil-producing counties.
• Under current law, most people pay their property taxes.
• The next issue is with the tax statements.

Bills: SB2397

Keywords: oil and gas, tax exemption, development incentive wells, gross production tax, flaring, 908, all

Summary: The Senate Finance and Tax Committee met and first took up House Bill 1382, the gas tax bill. Members explained an amendment to ensure that the proposed three-cent gas tax distribution would include all counties and townships in oil-producing counties, rather than excluding non-oil-producing counties as in the original draft. The committee adopted the amendment unanimously, but then held the bill for the time being because of related work on the Department of Transportation budget in the House. The committee then turned to House Bill 1168, a large hoghouse amendment that combined the bill with the contents of House Bill 1176 and added technical corrections. The proposal would raise the primary residence property tax credit maximum from $1,250 to $1,650, keep the 75% cap with a $500 floor, and extend the credit to voter-approved levies while excluding special assessments. Other changes discussed included aligning the disabled veterans property tax credit with the $200,000 exemption level, adjusting budget and distribution dates so taxing districts are made whole sooner, exempting townships from a general-election vote requirement for levy increases, and modifying school funding formulas so schools are not shortchanged if mill levies are reduced under the cap. Testimony from the Association of Counties and the State Supervisor of Assessments was generally supportive of the technical cleanup and implementation changes, but they raised concerns about the June 1 distribution date, application timing, and the practicality of some programming and administrative changes. Committee members also discussed the policy and messaging implications of the 75%/floor structure and the difficulty of applying the credit to certain voter-approved levies. No final action was taken on House Bill 1168; the committee agreed to continue working on amendments and recessed until later in the day.

Bills: SB1390

Keywords: gross production tax, oil and gas, natural gas, casinghead gas, oil revenue, tax apportionment, revenue sharing, county highway fund, school funding, average daily attendance, general revenue fund, revenue stabilization fund, county bridge and road improvement, state transportation fund, preserving and advancing county transportation fund, education funding, higher education, student aid, tourism funding, conservation funding

Transcript Highlights:

• The next bill to come before us is House Bill 128, enhanced oil recovery severance tax exemption.
• </c><01:12:46.640><c> recovery</c><01:12:47.280><c> severance</c><01:12:47.920><c> tax</c> enhanced oil
• recovery severance tax enhanced oil recovery severance tax exemption.<01:12:49.679><c> And</c><01:12
• Um, but then the severance tax reduction doesn't actually begin until the incremental oil production
• Um, but then the severance tax reduction doesn't actually begin until the incremental oil production

Bills: HB0075, HB0128

Keywords: virtual currency, kiosk, financial institutions, regulation, Wyoming Money Transmitters Act, penalties, severance tax, oil production, tax exemption, energy sector, economic impact, 916, all

Transcript Highlights:

• It's the one gift that keeps on giving, uh, that precludes the ability to increase taxes because we're
• </c> precludes the ability to increase taxes precludes the ability to increase taxes because<00:11:42.399
• What the DUNA provides is a domestic filing option that is capable of paying state and federal taxes,
• </c><00:26:02.799><c> code</c> associated tax code associated tax code and<00:26:04.960><c> that's</c
• It can file tax returns. It can contract with banks. It can have a bank account.

Bills: HB0075, HB0128

Keywords: virtual currency, kiosk, financial institutions, regulation, Wyoming Money Transmitters Act, penalties, severance tax, oil production, tax exemption, energy sector, economic impact, 916, all

Bills: HB0120, HB0043, HB0128

Keywords: energy production, natural gas, industrial sovereignty, manufacturing, tax exemptions, money laundering, illegal investment, financial institutions, criminal activity, Wyoming legislation, severance tax, oil production, tax exemption, energy sector, economic impact, 916, all

Transcript Highlights:

• </c> permit processing, providing tax permit processing, providing tax exemptions, exemptions, exemptions
• </c> There's not going to be any tax money. There's not going to be any tax money.
• </c> outline some of the mineral tax outline some of the mineral tax questions<00:46:43.680><c> we</c
• And so I just want to make sure... tax side on this, Mr. Chairman. On page tax side on this, Mr.
• We have department of um tax that.

Bills: HB0120, HB0043, HB0128

Keywords: energy production, natural gas, industrial sovereignty, manufacturing, tax exemptions, money laundering, illegal investment, financial institutions, criminal activity, Wyoming legislation, severance tax, oil production, tax exemption, energy sector, economic impact, 916, all

Transcript Highlights:

• Alabama's been blessed with oil and gas in many ways and forms, and we have gone after those energy sources
• The Oil and Gas Board is an entity of the government that regulates those matters and controls where
• infrastructure that's already in place, those holes that are already drilled, to those cavities where oil
• And this would allow a geothermal company to come in and open that under the authority of the Oil and
• The Oil and Gas Board is an entity of the government that regulates those matters and controls where

Bills: SB174, SB174

Keywords: business taxes, annual reports, Alabama Tax Tribunal, tax appeals, local government, SB174, alternative energy, alternative energy wells, alternative energy facility, geothermal, geothermal energy, subsurface energy, energy storage, energy capture, energy generation, hydropower, solar energy, oil and gas well conversion, well conversion, plugging and abandonment

Transcript Highlights:

• Does that mean that the Oklahoma Tax Commission will have access to the Texas Tax Commission's data for
• exempt in Texas, and that's they would wind up on our database with our tax code too or our tax cards
• sales tax.
• It's not the loss of tax revenue. I don't look at it as a loss of sales tax revenue...
• They Receive quite a bit of tax dollars to do this.

Bills: HB1590, HB3075, HB3548, HB3661, HB3986, HB4273, HB4346

Keywords: education funding, linked deposits, education infrastructure, charter schools, nonprofit organizations, Oklahoma Education Infrastructure Program, rounding, cash payments, public finance, Oklahoma Common Cents Act, political subdivision, youth entrepreneurship, tax exemption, small business, income tax, Oklahoma Youth Entrepreneurs Promotion and Development Act, HB3661, Oklahoma sales tax, sales tax exemption, revenue and taxation

Transcript Highlights:

• So does that mean that the Oklahoma Tax Commission will have access to the Texas Tax Commission's data
• exempt in Texas, and they would wind up on our database with our tax code, too, or our tax cards also
• And it's not the loss of tax revenue.
• They receive quite a bit of tax dollars to do this.
• How are we going to expect the Tax Commission to assess this?

Bills: HB1590, HB3075, HB3548, HB3661, HB3986, HB4273, HB4346

Keywords: education funding, linked deposits, education infrastructure, charter schools, nonprofit organizations, Oklahoma Education Infrastructure Program, rounding, cash payments, public finance, Oklahoma Common Cents Act, political subdivision, youth entrepreneurship, tax exemption, small business, income tax, Oklahoma Youth Entrepreneurs Promotion and Development Act, HB3661, Oklahoma sales tax, sales tax exemption, revenue and taxation

Summary: The Revenue and Taxation Committee met and first laid over House Bill 15.9 to the next meeting. The committee then unanimously advanced an executive nomination, James Burleson to the Oklahoma Tax Commission, after brief testimony from Sen. Pugh and Burleson’s comments about his private-sector, nonprofit, and community experience and desire to serve the state. Members then considered several tax-related bills. House Bill 3986, expanding eligibility for the 24-month gross production tax exemption for wells completed using recycled water, passed 10-1 after questions about whether the change was retroactive. House Bill 3548, which would exempt small child-run businesses from certain taxes and permits up to a $1,000 gross-revenue threshold, passed 11-0 after questions focused on enforcement and adult involvement. House Bill 3661, removing the sunset on the forestry equipment sales tax exemption, passed 8-3 despite concerns about the lack of hard data supporting the incentive’s continuation. The committee also passed House Bill 4346, creating reciprocity for agricultural sales tax exemptions for neighboring states, after discussion about verification methods, fraud prevention, and whether the Oklahoma Tax Commission could track out-of-state buyers; the bill passed 8-3. House Bill 3075, the “Oklahoma Common Sense Act” dealing with a post-penny environment and giving agencies and political subdivisions more time to update point-of-sale systems, was amended to set an effective date of November 1, 2026, and then passed 11-0. Finally, House Bill 4273, clarifying that certain R1 university aerospace research employees qualify for an aerospace tax credit, passed 6-5 after debate over whether the credit could create a broader domino effect for other professors and fields. The chair announced the committee would likely meet again the following Monday for its last meeting of the year, and then adjourned.

Transcript Highlights:

• at the retail tax rate.
• There's only an increase in sales tax if there's an increase in barrel production.
• It's per barrel we get severance tax revenue.
• If you have increased production, you're bringing in sales tax severance tax revenue.
• This bill saves staff time and state resources spent processing paper tax. All right.

Bills: SB1211, SB1574, SB2774, SB2873, SB2900, HJR4

Keywords: hydraulic fracturing, sales tax exemption, oil and gas, environmental impact, water reuse, justice, judicial council, centers of excellence, court operations, recognition program, franchise tax, retail trade, tax classification, business regulation, economic impact, SB 2873, Texas Tax Code, electronic filing, e-filing, tax reports

Transcript Highlights:

• and accessing the tax credit. ...are enrolling in a private school and accessing the tax credit.
• This bill will be another tax cut.
• And just like when we first passed the tax credit program, it took us a year to sit down with the Tax
• Currently, Oklahoma tax law allows favorable tax treatment for traditional health insurance.
• Oklahoma tax law allows favorable tax treatment for traditional health insurance, but doesn't extend

Bills: SB683, SB1579, SB1389, SB1387, SB1390, SB1391, SB2063, SB1829, SB2060, SB1842, SB1398, SB1212, SB2158, SB102

Keywords: education, tax credit, student support, private school, Oklahoma Parental Choice Tax Credit, financial assistance, homeschooling, qualified expenses, property tax, valuation increase, taxpayer rights, homestead, protest process, school choice, tuition assistance, income limits, parental choice, accreditation, sales tax, motor vehicles

Summary: The Revenue and Taxation Committee considered a long series of bills, many dealing with tax credits, property taxes, and tax administration. Early action included Senate Bill 1579, which creates a taxpayer bill of rights for ad valorem tax assessments by sending taxpayers a plain-language notice of existing rights; it passed 12-0. Senate Bill 683, as amended, expanded the parental choice tax credit to cover certain supplemental educational services for private-school students, including tutoring and summer learning programs, but drew concerns about broad language and unequal treatment of public-school students; it passed 8-3 with one member not voting. Senate Bill 1389 proposed a $25 million increase in the parental choice tax credit cap; supporters said the program is nearing its limit and should grow gradually, while opponents cited lack of outcomes data and benefits flowing disproportionately to higher-income families and metro counties. It passed 10-2. The committee also advanced several tax and property-related measures. Senate Bill 1387 would allow a sales tax refund when a vehicle is sold within six months of a purchase, even without a trade-in, and passed 10-2. Senate Bill 1390 extended and removed a cap on funding for the Oklahoma Water Resources Board and related agencies, passing unanimously. Senate Bill 2063 would require the State Treasurer to publish more information about unclaimed property online; the Treasurer’s office opposed it over privacy and burden concerns, but the bill passed 7-3. Senate Bill 1829 reduced the motor vehicle excise tax on manufactured homes to align more closely with the tax burden on traditional homes, and passed 8-2. Senate Bill 1842 would let county treasurers offer a 12-month installment prepayment plan for ad valorem taxes; it passed 9-1. Several other bills were debated on policy and accountability grounds. Senate Bill 1391 would require private schools participating in the parental choice tax credit to administer state tests and report results; supporters framed it as accountability for public tax dollars, while opponents argued it would undermine private-school autonomy and school-choice goals. It failed 5-7. Senate Bill 1398 created a capped tax credit for donations to certain nonprofits serving foster care, pregnancy resource centers, therapeutic care, and anti-trafficking efforts; members asked for clearer outcome measures, but it passed 8-2. Senate Bill 1212, addressing selective property appraisals in some counties, passed 9-1. Senate Bill 2158 would extend favorable tax treatment to health care sharing ministry contributions, and passed 8-2. Senate Bill 102 clarified when remote workers and certain short-term workers owe Oklahoma income tax, with discussion focused on athletes, entertainers, public figures, and contract workers; it passed 10-0. Finally, Senate Bill 2060, a governor-requested housing infrastructure bill creating master development districts, was still being refined but passed 6-4 to keep it moving forward.

Transcript Highlights:

• Senator Corm, the Revenue Tax and Taxation Committee will come to order. Mr.
• and accessing the tax credit.
• And just like when we first passed the tax credit program, it took us a year to sit down with the tax
• It's not any more than a double, and taxed accordingly.
• Currently, Oklahoma tax law allows favorable tax treatment for traditional health insurance but doesn't

Bills: SB683, SB1579, SB1389, SB1387, SB1390, SB1391, SB2063, SB1829, SB2060, SB1842, SB1398, SB1212, SB2158, SB102

Keywords: education, tax credit, student support, private school, Oklahoma Parental Choice Tax Credit, financial assistance, homeschooling, qualified expenses, property tax, valuation increase, taxpayer rights, homestead, protest process, school choice, tuition assistance, income limits, parental choice, accreditation, sales tax, motor vehicles

Transcript Highlights:

• Daniel Lafortune to serve as a board member of the Oklahoma Tax Commission.
• Affairs equipment and capital improvement program for future tax years.
• tax that they paid for.
• So, my understanding is that the tax credit is to go against the liability, the tax liability or exposure
• Who may not be getting taxed to the point.

Bills: SB1280, SB1392, SB1393, SB1395, SB1400, SB1405, SB1832, SB1839, SB1989, SB2001, SB2143

Keywords: excise tax, oil tax, natural gas tax, state revenue, Oklahoma Corporation Commission, income tax, tax credit, aerospace sector, employment, economic development, adaptive reuse, affordable housing, urban renewal, economic impact, program, housing, revitalization, urban development, income tax credit, manufacturing

Transcript Highlights:

• tax that they paid.
• The other would be the affordable housing tax credit.
• The other would be the affordable housing tax credit.
• Because I personally don't want tax money being forgone for housing because I personally don't want tax
• So my understanding is the tax credit is to go against the tax liability exposure of the employee.

Bills: SB1280, SB1392, SB1393, SB1395, SB1400, SB1405, SB1832, SB1839, SB1989, SB2001, SB2143

Keywords: excise tax, oil tax, natural gas tax, state revenue, Oklahoma Corporation Commission, income tax, tax credit, aerospace sector, employment, economic development, adaptive reuse, affordable housing, urban renewal, economic impact, program, housing, revitalization, urban development, income tax credit, manufacturing

Summary: The Senate Revenue and Taxation Committee took up a mix of tax policy, incentive, and administrative measures, beginning with an annual motion authorizing the chair to request OSBI background checks for any Horse Racing Commission nominees. The committee then passed Senate Bill 1839, as amended, to create a de minimis ad valorem tax exception for personal property valued at $5,000 or less per account. The committee also confirmed Daniel LaFortune to the Oklahoma Tax Commission by a 12-0 vote, with LaFortune emphasizing his IRS background and commitment to customer service and fairness. Several other bills were approved, including Senate Bill 1280 to align the plugging fund sunset date in the tax code with another statute; Senate Bill 1832 to reauthorize income tax refund checkoffs for veterans programs; Senate Bill 2001 to freeze property taxes for three years for homeowners displaced by a turnpike or eminent domain, though members raised concerns about downsizing and future valuation; and Senate Bill 1405 to renew the wildlife diversity checkoff, with testimony clarifying it would fund non-game species rather than predator reintroduction. Senate Bill 1989 also passed, expanding the Oklahoma College Savings Plan to accept digital payment platforms such as Venmo and PayPal, with members discussing how deposits would be tracked. The committee then considered Senate Bill 2143, which would allow counties to use aerial or satellite imagery and fixed-wing aircraft for property assessment while excluding drones; supporters cited efficiency, safety, and accuracy, while opponents raised privacy, foreign-company, and taxpayer-frustration concerns. The bill passed 7-4. Senate Bill 1393, a housing redevelopment tax credit for vacant and abandoned properties, passed 8-3 after discussion about affordable housing requirements and project ranking. The committee also approved three Incentive Evaluation Commission recommendations: Senate Bill 1392 to increase the aerospace engineer employee tax credit, Senate Bill 1395 to limit carryforward of the new jobs tax credit to seven years, and Senate Bill 1400 to consolidate aircraft-related sales tax exemptions. The meeting adjourned after the chairman noted more bills would be heard at a later meeting.

Transcript Highlights:

• That that came from the BP oil spill. That that came from the BP oil spill.
• That means less tax coming to the state, means less tax coming to the state, means less tax coming to
• the state, either sales tax, income tax, any other either sales tax, income tax, any other either sales
• tax, income tax, any other tax we think about.
• And I think that tax we think about. And I think that tax we think about.

Bills: HJR 4, HJR 6, HB 195, HB 13, HB 143, HB 135

Keywords: occupation tax, securities, financial regulation, tax exemption, legislative amendment, capital gains tax, realized gains, unrealized gains, investment income, asset sale, capital assets, wealth tax, estate tax, trust tax, tax limitation, constitutional amendment, Texas Constitution, Article VIII, property tax, sales tax

Transcript Highlights:

• Over half of our state revenue comes from sales taxes, making our tax code one of the most regressive
• Everyday Texans pay more in sales taxes, property taxes, and hidden costs from tolls to medical debt,
• Obviously, the purpose of this H.A.R. is to ban this tax, this transaction tax.
• or transaction taxes.
• for a fair tax system.

Bills: HJR4, HJR6, HB195, HB 13, HB143, HB135

Keywords: occupation tax, securities, financial regulation, tax exemption, legislative amendment, capital gains tax, realized gains, unrealized gains, investment income, asset sale, capital assets, wealth tax, estate tax, trust tax, tax limitation, constitutional amendment, Texas Constitution, Article VIII, property tax, sales tax

Transcript Highlights:

• The fact that Texas has low corporate taxes and no income taxes only gets us so far.
• Not dissimilar to property taxes and those... Similar to sales tax.
• In my role, I provide counsel to our tax operations and tax policy teams regarding state and local taxes
• a consumer-facing tax.
• Hotel occupancy taxes.

Bills: SB209, SB529, SB1265, SB1592, SB1728, SCR37, SCR38

Keywords: SB 529, Texas Tax Code, municipality, hotel and convention center, hotel convention center project, tourism development, economic development, tax revenue pledge, revenue commitment, qualified project, municipal finance, local government, special district, hotel occupancy tax, nearby establishments, convention center financing, city population 130000, Section 351.155, Section 351.157, child care

Transcript Highlights:

• In Big Lake, processed oil was sold.
• Of thousands of barrels of oil?
• and stealing oil.
• Many SWDs treat that water again to get some of the skim oil, the remaining oil.
• Of water with the oil and gas stream.

Bills: HB48, HB49, HB 1169, HB1971, HB2584, HB2663, HB2890, HB48, HB49

Keywords: HB 48, oilfield theft, organized theft, petroleum products, oil and gas equipment, DPS, Department of Public Safety, Texas, Railroad Commission, criminal justice, energy resources, theft prevention, organized crime, border region, El Paso, law enforcement task force, asset recovery, pipeline theft, drilling equipment, equipment theft

Transcript Highlights:

• To be taxed annually on items that sales tax has already been paid for is a more...
• When you owned a business, did you pay franchise taxes? Yes. Real property tax? Yes.
• Business personal property tax? Yep. Federal income tax? Yes, sir. Sales tax? Yep.
• This is an intangible... personal, what kind of tax? Property tax? Yes.
• It is in the tax code. But your bill would simply. take it out of the tax code.

Bills: HJR1, HJR2, HB9, HB22, HB908, HB1392, HB195, HB 13, HB143, HB135, HJR1, HJR2, HB9, HB22, HB908, HB1392

Keywords: constitutional amendment, property tax, ad valorem tax, tax exemption, tangible personal property, income-producing property, business personal property, equipment exemption, machinery, local government finance, school district revenue, county taxes, Texas Constitution, Article VIII, tax relief, commercial property, death tax, inheritance tax, estate tax, property transfer

Transcript Highlights:

• or use fuel tax that a county would contribute toward the State Highway Fund.
• or use fuel tax that a county would contribute toward the State Highway Fund.
• Our state's 18-cent-per-gallon gas tax is the fourth lowest in the country.
• We're all for lower taxes. We're all for lower gas prices.
• We're all for lower taxes, and I applaud her for working on the thing.

Bills: HB2014, HB2113, HB2145, HB2331, HB2340, HB2389, HB2400, HB2401, HB2428, HB2494, HB2696, HB2756, HB2795, HB2955, HCM2008

Keywords: air emissions, fuel blends, environmental quality, feasibility study, Arizona Department of Agriculture, utility consumer, rate intervention, public service corporation, Arizona Revised Statutes, residential rates, consumer protection, fuel reformulation, gasoline standards, environmental regulations, ethanol supply, Air Quality, energy reliability, electric service providers, reliable resources, public power entity