Landlord-Tenant Act Changes
The Oklahoma-Landlord Tenant Act repair and deduct cap will change from a maximum of $100 to one month’s rent effective November 1, 2022. CLICK HERE to read the final version of the bill.
Special Session Update
Special session, called by the governor, will convene Monday. Gov. Stitt wants the legislature to take up tax reform, but it won’t likely be addressed by the legislature until the fall.
Meanwhile, the prep work for the legislature’s call for special session-appropriating federal pandemic relief funds- is underway. The Joint Committee on Pandemic Relief met this week, approving all six projects discussed. The next step for approved projects will be bill language for approved projects added to special session bills. More information on the approved projects can be found here.
Interim Study Request Deadlines
Legislative interim study requests are due for both the House and Senate on June 24. Approvals in the Senate will be completed by July 1, while the House approvals will be posted by July 29.
Incentive Evaluation Commission to Review Tax Incentives
The Incentive Evaluation Commission has begun its annual review of tax incentives.
Incentives for review this year include:
· Oklahoma Affordable Housing Tax Credit
· Small Business Incubators Incentives Act
· Oklahoma Applied Research Support Program
· Oklahoma Health Research Program
· Quick Action Closing Fund
· Investment/New Jobs Tax Credits
· New Products Development Exemption Evaluation
· Oklahoma Seed Capital fund
· Technology Business Financing Program
· Technology Transfer Income Tax Exemption
More information on each incentive can be found on the Department of Commerce Website or in the Oklahoma Business Incentive and Tax Guide. For more information on the IEC’s past recommendations click here.
Thank you to all our members for staying engaged and your continued advocacy at all levels of the government!