Income Tax Credit; Defining Strategic Finance Partner
Oklahoma Legislative Events
Summary
Oklahoma Senate Bill 1992 establishes a new income tax credit and provides a statutory definition of 'strategic finance partner.' The bill passed the Senate 30-14 and the House Appropriations and Budget Committee 27-2 before being engrossed and referred for implementation. Sponsored by Senator Hall and Representative Caldwell.
What changed
Oklahoma SB1992 creates a new state income tax credit and codifies the definition of 'strategic finance partner' within Oklahoma tax law. The bill underwent amendments in the Senate Appropriations Committee before passing both chambers with bipartisan support.
Oklahoma businesses, financial institutions, and investors should prepare for the new credit by reviewing the statutory definition of strategic finance partner and monitoring the Oklahoma Tax Commission's forthcoming implementation guidance. Tax practitioners should analyze credit mechanics, interaction with existing credits, and any carryforward or transfer provisions.
What to do next
- Monitor Oklahoma Tax Commission for implementing regulations and guidance
- Review business arrangements to assess potential qualification as a strategic finance partner
- Consult tax counsel regarding credit application procedures
Archived snapshot
Apr 9, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
ChangeBridge / Oklahoma / SB1992 Passed SB1992 Senate Bill Passed 2026-03-24
Income tax credit; defining "strategic finance partner." Effective date.
Bill Details
State Oklahoma
Session 2026 Regular Session
Chamber Senate
Official Source www.oklegislature.gov/BillInfo.aspx?Bill=s...
LegiScan View on LegiScan
Sponsors
Chuck Hall (Sen - R) Trey Caldwell (Rep - R)
Action History
2026-04-08 H CR; Do Pass Appropriations and Budget Committee 2026-03-30 H Second Reading referred to Appropriations and Budget 2026-03-24 H First Reading 2026-03-24 S Engrossed to House 2026-03-23 S Referred for engrossment 2026-03-23 S Measure passed: Ayes: 30 Nays: 14 2026-03-23 S Title restored 2026-03-23 S General Order, Amended 2026-03-02 S Placed on General Order 2026-02-25 S Title stricken 2026-02-25 S Reported Do Pass as amended Appropriations committee; CR filed 2026-02-11 S Coauthored by Representative Caldwell (Trey) (principal House author) 2026-02-03 S Second Reading referred to Appropriations 2026-02-02 S Authored by Senator Hall 2026-02-02 S First Reading
Votes
2026-02-25 Senate: Appropriations Committee: DO PASS AMENDED Yea: 20 Nay: 0 2026-03-23 Senate: THIRD READING Yea: 30 Nay: 14 2026-04-07 House: Appropriations and Budget Committee: DO PASS Yea: 27 Nay: 2
Committee Referrals
2026-02-03 S Appropriations 2026-03-30 H Appropriations and Budget
Amendments
2026-03-09 Senate Floor SB1992 (3-09-26) (HALL) RT FA1
Bill Text Versions
2026-01-15 Introduced 2026-02-26 Amended 2026-03-24 Engrossed 2026-04-08 Amended Legislative data powered by LegiScan (CC BY 4.0)
Named provisions
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