Oklahoma 2024 Regular Session

Oklahoma House Bill HB3028 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	SENATE FLOOR VERSION - HB3028 SFLR Page 1
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	3	+	ENGR. H. B. NO. 3028 Page 1 1
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29		-	SENATE FLOOR VERSION
30		-	April 8, 2024
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33	28		ENGROSSED HOUSE
34	29		BILL NO. 3028 By: Maynard and Caldwell (Chad)
35	30		of the House
36	31
37	32		and
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39		-	Bullard ~~and Jett~~ of the
40		-	~~Senate~~
	34	+	Bullard of the Senate
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45	40		An Act relating to revenue and taxation; ame nding 68
46	41		O.S. 2021, Section 2890, as amended by Section 1,
47	42		Chapter 5, 1st Extraordinary Session, O.S.L. 2023 (68
48	43		O.S. Supp. 2023, Section 2890 ), which relates to
49	44		additional homestead exemptions; modifying definition
50	45		of gross household income; and providing an effective
51	46		date.
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57	52		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
58	53		SECTION 1. AMENDATORY 68 O.S. 2021, Section 2890, as
59	54		amended by Section 1, Chapter 5, 1st Extraordinary Session, O.S.L.
60	55		2023 (68 O.S. Supp. 2023, S ection 2890), is amended to read as
61	56		follows:
62	57		Section 2890. A. In addition to the amount of the homestead
63	58		exemption authorized and allowed in Section 2889 of this t itle, an
64	59		additional exemption is hereby granted, to the extent of One
65	60		Thousand Dollars ($1,000.00) of the assessed valuation on each
66	61		homestead of heads of households whose gross household income from
	62	+	all sources for the preceding calendar year did not exce ed Thirty
	63	+	Thousand Dollars ($30,000.00).
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68		-	SENATE FLOOR VERSION - HB3028 SFLR Page 2
69		-	(Bold face denotes Committee Amendments) 1
	65	+	ENGR. H. B. NO. 3028 Page 2 1
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94		-	all sources for the preceding calendar year did not exceed Thirty
95		-	Thousand Dollars ($30,000.00).
96	90		B. The term "gross household income" as used in this section
97	91		means the gross amount of income of every type , regardless of the
98	92		source, received by all persons occupying the same household,
99	93		whether such income was taxable or nontaxable for federal or state
100	94		income tax purposes, i ncluding pensions, a nnuities, federal Social
101	95		Security, unemployment payments, public a ssistance payments,
102	96		alimony, support money, workers' compensation, loss-of-time
103	97		insurance payments, net capital gains and any other type of income
104	98		received, and excluding gif ts. The term "gross household income"
105	99		shall not include any veterans' disability compensation payments or
106	100		the amount of any federal stimulus or relie f payments related to the
107	101		COVID-19 virus. The term "head of household" as used in this
108	102		section means a person who as owner or joint owner maintains a home
109	103		and furnishes support for the home, furnishings, and other material
110	104		necessities.
111	105		C. The application for the additional homestead exemption shall
112	106		be made each year on or before March 15 or within thirty (30 ) days
113	107		from and after receipt by the taxpayer of notice of valuation
114	108		increase, whichever is later, and upon the form prescribed by the
115	109		Oklahoma Tax Commission, which shall require the taxpayer to c ertify
116	110		as to the amount of gross income. Upon request of the county
	111	+	assessor, the Oklahoma Tax Commission shall assist in verifying the
	112	+	correctness of the amount of the gross income.
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118		-	SENATE FLOOR VERSION - HB3028 SFLR Page 3
119		-	(Bold face denotes Committee Amendments) 1
	114	+	ENGR. H. B. NO. 3028 Page 3 1
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144		-	assessor, the Oklahoma Tax Commissio n shall assist in verifying the
145		-	correctness of the amount of the gross income.
146	139		D. For persons sixty-five (65) years of age or older as of
147	140		March 15 and who have previously qualified for the additional
148	141		homestead exemption, no annual a pplication shall be required in
149	142		order to receive the exemptio n provided by this section; however,
150	143		any person whose gross househ old income in any calendar year exceeds
151	144		the amount specified in this section in order to qualify for the
152	145		additional homestead exemption shall notify the county assessor and
153	146		the additional exemption shall not be allowed for the applicable
154	147		year. Any executor or administrator of an estate within which i s
155	148		included a homestead property exempt pursuant to the provi sions of
156	149		this section shall notify the county assessor of the change in
157	150		status of the homestead property if such property is not the
158	151		homestead of a person who would be eligible for the exemption
159	152		provided by this section.
160	153		SECTION 2. This act shall become effectiv e November 1, 2024.
161		-	COMMITTEE REPORT BY: COMMITTEE ON FINA NCE
162		-	April 8, 2024 - DO PASS
	154	+	Passed the House of Representatives the 6th day of March, 2024.
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	159	+	Presiding Officer of the House
	160	+	of Representatives
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	164	+	Passed the Senate the ___ day of __________, 2024.
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	169	+	Presiding Officer of the Senate
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