Oklahoma legislation · 2026 Regular Session
Oklahoma HB4028: Revenue and taxation; certain income tax deduction; taxable years for which deductible allowable; effective date.
Status: Chaptered, May 4, 2026
What the bill says
An Act relating to revenue and taxation; amending 68 O.S. 2021, Section 2358.110, as amended by Section 4, Chapter 375, O.S.L. 2024 (68 O.S. Supp. 2025, Section 2358.110), which relates to certain income tax deduction; modifying taxable years for which deduction allowable; and providing an effective date. SUBJECT: Revenue and taxation.
From the enrolled text, April 27, 2026:
An Act relating to revenue and taxation; amending 68 O.S. 2021, Section 2358.110, as amended by Section 4, Chapter 375, O.S.L. 2024 (68 O.S. Supp. 2025, Section 2358.110), which relates to certain income tax deduction; modifying taxable years for which deduction allowable; and providing an effective date. SUBJECT: Revenue and taxation SECTION 1. AMENDATORY 68 O.S. 2021, Section 2358.110, as amended by Section 4, Chapter 375, O.S.L. 2024 (68 O.S. Supp. 2025, Section 2358.110), is amended to read as follows: Section 2358.110. A. As used in this section: 1. "Accredited investor" means a person or entity as defined pursuant to Section 230.501 of Title 17 of the Code of Federal Regulations; 2. "Eligible Oklahoma business venture" means a lawful business entity that is determined by the Oklahoma Center for the Advancement of Science and Technology (OCAST) for receipt of an equity investment by an eligible Oklahoma venture capital company. In determining whether an investment is a qualified equity investment, OCAST shall consider the potential impact the investment would have on the local and state economy and shall consider the following factors: a. the primary location of the entity, b. the number of employees located or to be located in this state, c. state and local revenues generated from the investment, d. the economic benefits to the state, e. the type …
Sponsors
- John Kane (R, HD-011)
- John Haste (R, SD-036)
Latest actions
- : Becomes law without Governor's signature 05/03/2026
- : Sent to Governor
- : Enrolled measure signed, returned to House
- : Enrolled, signed, to Senate
- : Referred for enrollment
- : Engrossed measure signed, returned to House
- : Measure passed: Ayes: 26 Nays: 20
- : Ayes: 27 Nays: 20
- : JCR adopted
- : Direct to Calendar
Votes
- Third Reading (April 27, 2026): 26 yea, 20 nay, passed
- Floor Vote (April 27, 2026): 27 yea, 20 nay, failed
- Third Reading (April 21, 2026): 54 yea, 27 nay, passed
- Senate Joint Committee on Appropriations and Budget Committee (April 20, 2026): 16 yea, 5 nay, passed
- Floor Vote (April 20, 2026): 23 yea, 6 nay, passed
Subjects: Named Acts, Appropriations
Common questions
- What is HB4028?
- HB4028 is a bill in the Oklahoma Legislature (2026 Regular Session): Revenue and taxation; certain income tax deduction; taxable years for which deductible allowable; effective date.
- What does HB4028 do?
- In its own words: An Act relating to revenue and taxation; amending 68 O.S. 2021, Section 2358.110, as amended by Section 4, Chapter 375, O.S.L. 2024 (68 O.S. Supp. 2025, Section 2358.110), which relates to certain income tax deduction; modifying taxable years for which deduction allowable; and providing an effective date. SUBJECT: Revenue and taxation.
- What is the status of HB4028?
- Chaptered as of May 4, 2026. Latest action: Becomes law without Governor's signature 05/03/2026 (May 4, 2026).
- Who sponsored HB4028?
- John Kane (R, HD-011), with 1 co-sponsor.
- Where is the official record for HB4028?
- On the Oklahoma Legislature website: https://www.oklegislature.gov/BillInfo.aspx?Bill=HB4028&Session=2600
Source: official Oklahoma record. Tracked by Delilah, AI for legislation across all 50 states and Congress.