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| 3 | 3 | | Req. No. 10821 Page 1 1 |
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| 27 | 27 | | |
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| 28 | 28 | | STATE OF OKLAHOMA |
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| 29 | 29 | | |
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| 30 | 30 | | 1st Session of the 60th Legislature (2025) |
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| 31 | 31 | | |
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| 32 | 32 | | HOUSE BILL 2091 By: Menz |
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| 37 | 37 | | |
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| 38 | 38 | | AS INTRODUCED |
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| 39 | 39 | | |
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| 40 | 40 | | An Act relating to revenue and taxation; providing |
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| 41 | 41 | | income tax credit for individuals who pay rent for |
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| 42 | 42 | | their residence; limiting the amount of credit |
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| 43 | 43 | | received in a tax year; providing inflation |
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| 44 | 44 | | adjustment; making credit refundable; requiring the |
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| 45 | 45 | | Tax Commission to provide form; requiring certain |
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| 46 | 46 | | information; providing for codification; and |
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| 47 | 47 | | providing an effective date. |
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| 53 | 53 | | |
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| 54 | 54 | | BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA: |
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| 55 | 55 | | SECTION 1. NEW LAW A new section of law to be codified |
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| 56 | 56 | | in the Oklahoma Statutes as Section 2357.802 of Title 68, unless |
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| 57 | 57 | | there is created a duplication in numbering, reads as follows: |
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| 58 | 58 | | A. For taxable years beginning on and after January 1, 2026, |
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| 59 | 59 | | there shall be allowed against the tax imposed by Section 2355 of |
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| 60 | 60 | | Title 68 of the Oklahoma Statutes a credit for any individual for |
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| 61 | 61 | | rent paid for their primary residence. The credit allowed shall be |
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| 62 | 62 | | refundable and shall not exceed One Hundred Ten Dollars ($110.00) |
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| 63 | 63 | | for tax year 2026, and shall be annually adjusted to reflect price |
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| 64 | 64 | | inflation as measured by the Consumer Price Index for All Urban |
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| 65 | 65 | | |
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| 66 | 66 | | Req. No. 10821 Page 2 1 |
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| 90 | 90 | | |
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| 91 | 91 | | Consumers ("CPI-U") published by the Bureau of Labor Statisti cs for |
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| 92 | 92 | | subsequent tax years. |
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| 93 | 93 | | B. The Oklahoma Tax Commission shall provide a form to claim |
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| 94 | 94 | | the credit. The form shall require information from the individual |
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| 95 | 95 | | including their address, the name of the landlord, the required |
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| 96 | 96 | | monthly rent, and the total amoun t of rent paid in the tax year. |
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| 97 | 97 | | SECTION 2. This act shall bec ome effective November 1, 2025. |
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| 98 | 98 | | |
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| 99 | 99 | | 60-1-10821 AO 12/11/24 |
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