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STATE OF OKLAHOMA
2nd Session of the 59th Legislature (2024)
HOUSE BILL 3028 By: Maynard
AS INTRODUCED
An Act relating to revenue and taxation; ame nding 68
O.S. 2021, Section 2890, as amended by Section 1,
Chapter 5, 1st Extraordinary Session, O.S.L. 2023 (68
O.S. Supp. 2023, Section 2890 ), which relates to
additional homestead exemptions; modifying definition
of gross household income; and providing an effective
date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 68 O.S. 2021, Section 2890, as
amended by Section 1, Chapter 5, 1st Extraordinary Session, O.S.L.
2023 (68 O.S. Supp. 2023, Section 2890), is amended to read as
follows:
Section 2890. A. In addition to the amount of the homestead
exemption authorized and allowed in Section 2889 of this t itle, an
additional exemption is hereby granted, to the extent of One
Thousand Dollars ($1,000.00) of the assessed valuation on each
homestead of heads of households whose gross household income from
all sources for the preceding calendar year did not exce ed Thirty
Thousand Dollars ($30,000.00).
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B. The term "gross household income" as used in this section
means the gross amount of income of every type , regardless of the
source, received by all persons occupying the same household,
whether such income was taxable or nontaxable for federal or state
income tax purposes, i ncluding pensions, a nnuities, federal Social
Security, unemployment payments, public a ssistance payments,
alimony, support money, workers' compensation, loss-of-time
insurance payments, net capital gains and any other type of income
received, and excluding gif ts. The term "gross household income "
shall not include any veterans' disability compensation payments or
the amount of any federal stimulus or relie f payments related to the
COVID-19 virus. The term "head of household" as used in this
section means a person who as owner or joint owner maint ains a home
and furnishes support for the home, furnishings, and other material
necessities.
C. The application for the additional homestead exemption shall
be made each year on or before March 15 or within thirty (30 ) days
from and after receipt by the t axpayer of notice of valuation
increase, whichever is later, and upon the form prescribed by the
Oklahoma Tax Commission, which shall require the taxpayer to c ertify
as to the amount of gross income. Upon request of the county
assessor, the Oklahoma Tax C ommission shall assist in verifying the
correctness of the amount of the gross income.
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D. For persons sixty-five (65) years of age or older as of
March 15 and who have previously qualified for the additional
homestead exemption, no annual application shal l be required in
order to receive the exemptio n provided by this section; however,
any person whose gross househ old income in any calendar year exceeds
the amount specified in this section in order to qualify for the
additional homestead exemption shall no tify the county assessor and
the additional exemption shall not be allowed for the applicable
year. Any executor or administrator of an estate within which i s
included a homestead property exempt pursuant to the provi sions of
this section shall notify the county assessor of the change in
status of the homestead property if such property is not the
homestead of a person who would be eligible for the exemption
provided by this section.
SECTION 2. This act shall become effective November 1, 2024.
59-2-8570 MAH 01/09/24