Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB2037

Introduced
2/5/24  

Caption

Sales tax rebate; creating the Grocery Tax Relief Rebate Act. Effective date.

Impact

The impact of SB2037 on state laws includes the establishment of formal mechanisms for monthly rebate payments to qualifying individuals and families. The legislation is designed to create a new legal framework through which the Oklahoma Tax Commission will administer the rebate program. It places an obligation on the Tax Commission to define eligibility criteria, determine rebate amounts, and manage the application process through an online registry. The bill is set to become effective on November 1, 2024, signifying that procedures must be established prior to this date.

Summary

Senate Bill 2037, known as the Grocery Tax Relief Rebate Act, aims to provide a sales tax rebate for groceries to support individuals and families living below the federal poverty level. This legislation demonstrates an intent to alleviate the financial burden on low-income households by ensuring they do not pay sales tax on essential food items. The bill proposes that beginning in 2026, eligible households will receive a monthly rebate, calculated based on the federal poverty guidelines, which could vary depending on household composition.

Contention

Notable points of contention surrounding SB2037 include concerns about the administrative capacity of the Oklahoma Tax Commission to effectively implement such a program, as well as the potential eligibility criteria that may exclude certain vulnerable groups. Additionally, there may be debates on the sufficiency of the proposed rebate amounts, and whether they adequately address the needs of families at or below the poverty threshold. The requirement for annual reapplication for the rebate may also raise questions regarding accessibility and fairness.

Companion Bills

No companion bills found.

Previously Filed As

OK HB2086

Revenue and taxation; sales tax; groceries; duration of exemption; local sales taxes; effective date; emergency.

OK HB1444

Revenue and taxation; sales tax; groceries; food items; effective date; emergency.

OK HB1955

Revenue and taxation; sales tax; groceries; definitions; zero rate; local sales tax; effective date; emergency.

OK HB1645

Revenue and taxation; income tax; taxable income; business entities; sales factor; effective date.

OK HB2027

Revenue and taxation; sales tax exemption; hearing aids; effective date; emergency.

OK HB2317

Revenue and taxation; sales tax; rolling stock; effective date.

OK HB1953

Revenue and taxation; income tax; income tax rates; effective date.

OK HB2447

Revenue and taxation; Grocery Taxation Policy Act of 2023; effective date.

OK HB1954

Revenue and taxation; income tax rates; effective date.

OK HB1009

Revenue and taxation; sales tax exemption; veterans; effective date.

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