OK
Oklahoma House Bill HB3344

Oklahoma 2024 Regular Session

Oklahoma House Bill HB3344

Introduced
2/5/24  
Refer
2/6/24  

Caption

Revenue and taxation; sales tax exemptions; Oklahoma State University Medical Authority and Trust; Oklahoma State University Veterinary Medicine Authority and Trust; effective date; emergency.

Impact

If enacted, HB3344 will amend Section 1356 of Title 68 of the Oklahoma Statutes. This change is expected to alleviate the financial burden on the Oklahoma State University Medical Authority and Trust, thereby enhancing their capability to provide medical services and education. Additionally, the veterinary medicine authority will benefit similarly, potentially improving animal healthcare and education in the state. The financial implications could lead to increased investment in infrastructure, personnel, and equipment as these entities save on sales taxes for necessary purchases.

Summary

House Bill 3344 is a legislative proposal aimed at modifying sales tax exemptions in Oklahoma. The bill specifically provides sales tax exemptions to the Oklahoma State University Medical Authority and Trust, as well as the Oklahoma State University Veterinary Medicine Authority and Trust. This amendment to the existing tax code is part of efforts to support the operations of these institutions, which play significant roles in the state's healthcare and veterinary services sectors. By granting these exemptions, the bill seeks to enable these authorities to allocate more resources towards their core missions of education and service delivery.

Contention

While the bill has supportive measures towards enhancing the educational and healthcare capacities of the respective authorities, there may be contentious points regarding the appropriateness of extending such tax exemptions. Critics may argue about the value of public funds and the fairness of exempting certain entities from taxes while others do not receive similar treatment. There may also be ongoing discussions about the long-term implications for state revenue and whether these exemptions could set a precedent for other institutions seeking similar benefits.

Companion Bills

No companion bills found.

Previously Filed As

OK HB2863

Veterinary medicine; Oklahoma State University Veterinary Medicine Authority (OSUVMA); creation; revolving funds; bonds; effective date; emergency.

OK SB704

Oklahoma State University Medical Authority; modifying membership of the Authority; modifying powers and duties of the Authority and the Oklahoma State University Medical Trust. Effective date.

OK HB2160

Oklahoma State University Medical Authority; members; qualifications; powers and duties; Oklahoma State University Medical Trust; increasing certain asset limit; effective date.

OK SB1005

Animal health and public health; creating the Oklahoma State University Veterinary Medicine Authority Act; defining terms; expressing legislative findings. Emergency.

OK HB1568

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

OK HB2289

Revenue and taxation; state and local taxes; procedures; administration; Oklahoma Tax Commission; effective date; emergency.

OK HB1447

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

OK HB1653

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

OK HB2733

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

OK HB1735

Revenue and taxation; sales tax exemption; nonprofit organization; 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.