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SB367 • 2026

Income tax; modifying calculation of the Oklahoma earned income tax credit. Effective date.

Income tax; modifying calculation of the Oklahoma earned income tax credit. Effective date.

Taxes
Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Boren
Last action
2025-03-10
Official status
Coauthored by Representative Ranson (principal House author)
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Income tax; modifying calculation of the Oklahoma earned income tax credit. Effective date.

Income tax; modifying calculation of the Oklahoma earned income tax credit.

What This Bill Does

  • Income tax; modifying calculation of the Oklahoma earned income tax credit.
  • Effective date.
  • Bill Summaries/Fiscal Impact for SB 367 (Senate): Introduced (1/6/2025) Bill Summaries/Fiscal Impact for SB 367 (Senate): Committee Substitute (2/24/2025) Fiscal Impact Statements For SB 367 (Senate): SB367 INT FI.PDF (Fiscal (Senate)) Fiscal Impact Statements For SB 367 (Senate): SB367 CS FI.PDF (Fiscal (Senate))

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

Filed

Plain English: Req.

  • Req.
  • No.
  • 1699 Page 1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 STATE OF OKLAHOMA 1st Session of the 60th Legislature (2025) COMMITTEE SUBSTITUTE FOR SENATE BILL NO.
  • 367 By: Boren COMMITTEE SUBSTITUTE An Act relating to income tax; amending 68 O.S.

Bill History

  1. 2025-03-10 Senate

    Placed on General Order

  2. 2025-03-10 Senate

    Coauthored by Representative Ranson (principal House author)

  3. 2025-03-05 Senate

    Reported Do Pass as amended Appropriations committee; CR filed

  4. 2025-03-05 Senate

    Title stricken

  5. 2025-02-24 Senate

    Reported Do Pass, amended by committee substitute Revenue and Taxation committee; CR filed

  6. 2025-02-24 Senate

    Title stricken

  7. 2025-02-24 Senate

    Referred to Appropriations

  8. 2025-02-04 Senate

    Second Reading referred to Revenue and Taxation Committee then to Appropriations Committee

  9. 2025-02-03 Senate

    First Reading

  10. 2025-02-03 Senate

    Authored by Senator Boren

Official Summary Text

Income tax; modifying calculation of the Oklahoma earned income tax credit. Effective date.
Bill Summaries/Fiscal Impact for SB 367 (Senate): Introduced (1/6/2025)
Bill Summaries/Fiscal Impact for SB 367 (Senate): Committee Substitute (2/24/2025)
Fiscal Impact Statements For SB 367 (Senate): SB367 INT FI.PDF (Fiscal (Senate))
Fiscal Impact Statements For SB 367 (Senate): SB367 CS FI.PDF (Fiscal (Senate))

Current Bill Text

Read the full stored bill text 
SENATE FLOOR VERSION - SB367 SFLR Page 1
(Bold face denotes Committee Amendments)
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SENATE FLOOR VERSION
March 5, 2025

COMMITTEE SUBSTITUTE
FOR
SENATE BILL NO. 367 By: Boren

[ income tax - calculation of credit - effective
date ]

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 68 O.S. 2021, Section 2357.43, is
amended to read as follows:
Section 2357.43. For tax years beginning on or after January 1,
2022 year 2002 and subsequent tax years, there shall be allowed to a
resident individual or a part-year resident individual as a credit
against the tax imposed by Section 2355 of this title five percent
(5%) of the earned income tax credit allowed under Section 32 of the
Internal Revenue Code of the United States 1986, as amended, 26
U.S.C., Section 32, which for the taxable year beginning January 1,
2022, and the taxable year beginning each January 1 thereafter tax
years 2022 through 2025 shall be computed using the same
requirements, other than the five percent (5%) amount to compute the
credit as prescribed by this section which shall remain constant, in
effect for computation of the earned income tax credit for federal

SENATE FLOOR VERSION - SB367 SFLR Page 2
(Bold face denotes Committee Amendments)
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income tax purposes for the 2020 income tax year. For tax years
2002 through 2021 and for tax year 2026 and subsequent tax years,
the credit shall be five percent (5%) of the earned income tax
credit allowed under 26 U.S.C., Section 32 for the applicable tax
year. However, this credit shall not be paid in advance pursuant to
the provisions of Section 3507 of the Internal Revenue Code of 1986,
as amended. For tax years which begin on or after January 1, 2022
2002 through 2015 and tax year 2022 and subsequent tax years, if the
credit exceeds the tax imposed by Section 2355 of this title, the
excess amount shall be refunded to the taxpayer. The maximum earned
income tax credit allowable on the Oklahoma income tax return shall
be prorated on the ratio that Oklahoma adjusted gross income bears
to the federal adjusted gross income.
SECTION 2. This act shall become effective November 1, 2025.
COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS
March 5, 2025 - DO PASS AS AMENDED