Oklahoma 2025 Regular Session

Oklahoma Senate Bill SB627

Introduced
2/3/25  

Caption

Storm shelters; authorizing certain building standards and establishing certain tax credit. Effective date.

Impact

The bill introduces a tax incentive aimed at encouraging the installation of storm shelters in both single-family and multi-family housing units. Owners of newly constructed multiunit developments will receive a tax credit equal to 25% of their expenditures on storm shelters. Furthermore, existing multi-family units that make the improvements will also qualify for the same percentage tax deduction. This financial incentive is designed to make the investment in safety more feasible for developers and property owners, ultimately leading to more secure living environments in tornado-prone regions.

Summary

Senate Bill 627 establishes a legal framework for requiring storm shelters in multiunit housing developments in Oklahoma, aiming to enhance safety in response to tornado threats. The bill authorizes the Oklahoma Uniform Building Code Commission to set forth specific standards for the construction and installation of these shelters, which must conform to guidelines recommended by the Federal Emergency Management Agency (FEMA). This legislation is particularly significant for areas that are prone to tornadoes, as it seeks to ensure that residents have accessible and reliable shelter during such natural disasters.

Contention

While the bill aims to improve safety, there may be some concerns about the additional burden it places on builders and local governments. Critics might argue that mandating storm shelters could lead to increased construction costs and discourage development, particularly in already economically challenged areas. Additionally, there may be discussions regarding the adequacy of the standards set forth by the Oklahoma Uniform Building Code Commission, particularly if they are viewed as insufficiently protective or too expensive to implement. The successful implementation of this bill hinges not only on regulatory support but also on the acceptance of the business community and local housing authorities.

Companion Bills

No companion bills found.

Previously Filed As

OK SB577

Income tax credit; creating the Caring for Caregivers Act; authorizing tax credit for care and support expenditures; limiting annual credit. Effective date.

OK SB577

Income tax credit; creating the Caring for Caregivers Act; authorizing tax credit for care and support expenditures; limiting annual credit. Effective date.

OK HB3388

Income tax credits: prohibiting claims for deduction from certain tax credit; providing exemption for certain tax credits received; parental choice tax credits, modifying income limitations; allowing certain credit to qualifying students; establishing credit amount for certain private schools; emergency.

OK HB3269

Schools; Oklahoma Parental Choice Tax Credit Act; directing Oklahoma Tax Commission to prorate certain credits; effective date.

OK HB2136

Crimes and punishments; authorizing the carry of firearms into certain city or town buildings; effective date.

OK HB2136

Crimes and punishments; authorizing the carry of firearms into certain city or town buildings; effective date.

OK HB1029

Revenue and taxation; creating the Caring for Caregivers Act; creating family caregiver tax credit; credit caps; authorizing Tax Commission to promulgate rules; effective date.

OK SB600

Oklahoma Tax Commission; licenses and permits; authorizing the written protest of certain license and permit refusal within certain period. Effective date.

OK SB600

Oklahoma Tax Commission; licenses and permits; authorizing the written protest of certain license and permit refusal within certain period. Effective date.

OK HB1934

Students; creating the Oklahoma Parental Choice Tax Credit Act; creating income tax credit for certain taxpayers.

Similar Bills

No similar bills found.