What is the status of HB3942?

In committee as of April 1, 2026. Latest action: Second Reading referred to Economic Development, Workforce and Tourism (April 1, 2026).

Who sponsored HB3942?

John Kane (R, HD-011), with 2 co-sponsors.

Where is the official record for HB3942?

On the Oklahoma Legislature website: https://www.oklegislature.gov/BillInfo.aspx?Bill=HB3942&Session=2600

Oklahoma legislation · 2026 Regular Session

Oklahoma HB3942: Public finance; Incentive Evaluation Commission; communications; presentation of findings; comparison of certain results; effective date; emergency.

Q: What is HB3942?

HB3942 is a bill in the Oklahoma Legislature (2026 Regular Session): Public finance; Incentive Evaluation Commission; communications; presentation of findings; comparison of certain results; effective date; emergency.

Q: What does HB3942 do?

In its own words: An Act relating to public finance; amending 62 O.S. 2021, Sections 7004, as amended by Section 2, Chapter 125, O.S.L. 2023, and 7005, as amended by Section 3, Chapter 125, O.S.L. 2023 (62 O.S. Supp. 2025, Sections 7004 and 7005), which relate to the Incentive Evaluation Commission; requiring submission of certain findings and recommendations to the Office of Fiscal Transparency; modifying requirements for incentive evaluations; providing an effective date; and declaring an emergency.

Status: In committee, April 1, 2026

What the bill says

An Act relating to public finance; amending 62 O.S. 2021, Sections 7004, as amended by Section 2, Chapter 125, O.S.L. 2023, and 7005, as amended by Section 3, Chapter 125, O.S.L. 2023 (62 O.S. Supp. 2025, Sections 7004 and 7005), which relate to the Incentive Evaluation Commission; requiring submission of certain findings and recommendations to the Office of Fiscal Transparency; modifying requirements for incentive evaluations; providing an effective date; and declaring an emergency.

From the engrossed text, March 16, 2026:

An Act relating to public finance; amending 62 O.S. 2021, Sections 7004, as amended by Section 2, Chapter 125, O.S.L. 2023, and 7005, as amended by Section 3, Chapter 125, O.S.L. 2023 (62 O.S. Supp. 2025, Sections 7004 and 7005), which relate to the Incentive Evaluation Commission; requiring submission of certain findings and recommendations to the Office of Fiscal Transparency; modifying requirements for incentive evaluations; providing an effective date; and declaring an emergency. BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA: SECTION 1. AMENDATORY 62 O.S. 2021, Section 7004, as amended by Section 2, Chapter 125, O.S.L. 2023 (62 O.S. Supp. 2025, Section 7004), is amended to read as follows: Section 7004. A. For calendar years 2024 through 2027 and every four (4) years thereafter, the Incentive Evaluation Commission shall ensure that each incentive is evaluated within the four-year evaluation period unless the Commission determines that the incentive is exempt from evaluation. The Commission may exempt from evaluation any incentive that it concludes has a minimal fiscal impact. The Commission shall determine a specific threshold amount ENGR. H. B. NO. 3942 Page whic h shall be considered as a minimal fiscal impact for the current evaluation cycle. The Commission may also conduct an expedited evaluation for any incentive that has been evaluated at least two times from …

Read the full official text

Oklahoma HB3942: Public finance; Incentive Evaluation Commission; communications; presentation of findings; comparison of certain results; effective date; emergency.

What the bill says

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