OK
Oklahoma House Bill HB3137

Oklahoma 2022 Regular Session

Oklahoma House Bill HB3137

Introduced
2/7/22  
Refer
2/8/22  
Refer
2/8/22  

Caption

Revenue and taxation; sales tax exemption; effective date.

Impact

The inclusion of this exemption for nonprofit organizations will likely encourage the development of affordable housing projects by allowing these entities to reduce their tax burden when purchasing materials and services necessary for construction and remodeling activities. Proponents argue this change will significantly aid nonprofits in their mission to provide essential housing services, especially for lower-income residents. By alleviating sales tax on essential materials, nonprofits can allocate more resources towards their programs and services.

Summary

House Bill 3137 aims to amend Section 1356 of Oklahoma's sales tax exemptions to include tangible personal property and services sold to certain nonprofit entities engaged in constructing or remodeling affordable housing. This legislation specifically focuses on those organizations that serve public or charitable purposes and ensures the nonprofit's funding practices align with the objective of acting in the best interest of clients. The bill is set to take effect on November 1, 2022, upon approval.

Contention

Debate surrounding HB 3137 centers on the implications of extending tax exemptions to additional nonprofit sectors. Critics may question the potential loss of state revenue from sales taxes dedicated to public services. Furthermore, there may be concerns about the criteria for qualifying nonprofits, ensuring they truly serve charitable purposes. Stakeholders must balance the financial needs of state government with the pivotal role of nonprofits in addressing housing shortages in Oklahoma.

Companion Bills

No companion bills found.

Previously Filed As

OK HB2977

Revenue and taxation; sales tax exemptions; effective date; emergency.

OK HB2743

Revenue and taxation; sales tax exemption; sales tax exemption for nonprofit entity; effective date.

OK HB1568

Revenue and taxation; sales tax; exemption; nonprofit entities; revenues; effective date; emergency.

OK HB1568

Revenue and taxation; sales tax; exemption; nonprofit entities; revenues; effective date; emergency.

OK HB1854

Revenue and taxation; sales tax; exemptions; nonprofit entities; effective date; emergency.

OK HB1447

Revenue and taxation; sales tax exemptions; nonprofit entity; STEM; effective date; emergency.

OK HB1447

Revenue and taxation; sales tax exemptions; nonprofit entity; STEM; effective date; emergency.

OK HB3854

Revenue and taxation; sales tax exemption; avian research center; effective date.

OK HB1849

Revenue and taxation; sales tax exemption; school support organizations; effective date.

OK SB1499

Revenue and taxation; sales tax; exemptions; feminine hygiene products. Effective date. Emergency.

Similar Bills

OK SB1445

Sales tax exemption; providing exemption for OSU Medical Authority and Trust and OSU Veterinary Authority and Trust to extend to entities entered into public contracts. Effective date. Emergency.

OK SB909

Sales tax; providing exemption for sales to certain museums. Effective date.

OK HB1849

Revenue and taxation; sales tax exemption; school support organizations; effective date.

OK HB2949

Revenue and taxation; sales tax exemption; University Hospitals Trust; effective date; emergency.

OK HB1935

Revenue and taxation; sales tax exemption; nonprofits; construction of affordable housing; disaster repair; effective date.

OK SB1502

Sales tax; extending sales tax exemption to contractors in connection to performance of a contract with a tax exempt entity. Effective date.

OK HB1854

Revenue and taxation; sales tax; exemptions; nonprofit entities; effective date; emergency.

OK HB1171

Revenue and taxation; sales tax exemption; nonprofit entities; limitation on gross revenues; exception for alcohol and tobacco; effective date; emergency.