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SB 309

Income tax; providing credit for eligible dependent children; stipulating credit amount. Effective date.

2026 Regular Session Introduced by David Bullard

SB 309 establishes a new Oklahoma income tax credit for families with dependent children, reducing state tax liability for qualifying households starting on an unspecified effective date.

Second Reading referred to Revenue and Taxation Committee then to Appropriations Committee
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Bill Summary · SB 309

Legislative bill overview

SB 309 creates a new income tax credit for Oklahoma taxpayers with eligible dependent children. The bill specifies a credit amount (though the exact dollar figure isn't detailed in the title) and establishes an effective date for implementation. This is a tax reduction measure that would reduce state income tax liability for qualifying families.

Why is this important

Income tax credits directly affect state revenue and household finances for families with children. Oklahoma's tax structure and competitiveness with neighboring states depend partly on such credits, which can influence family financial planning, cost of living, and potentially migration patterns. The fiscal impact on the state budget will depend on the credit's amount and how many families qualify.

Potential points of contention

  • Credit amount and affordability: The specific dollar value of the credit isn't disclosed in available materials, making it unclear whether the benefit is meaningful ($50/child) or substantial ($500+/child), which affects budget impact and political viability
  • Eligibility requirements: "Eligible dependent children" language suggests restrictions exist—age limits, income thresholds, or residency requirements could exclude some families, raising fairness questions
  • State revenue impact: Reducing income tax revenue requires either budget cuts elsewhere, reallocation of funds, or finding offsetting revenue sources; the Appropriations Committee referral suggests fiscal concerns

Compiled from official sources — confirm details with the bill’s official record.

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