Oklahoma legislation · 2026 Regular Session
Oklahoma HB4432: Revenue and taxation; adjustments; eliminating limitation on itemization of wagering losses for certain tax years; effective date.
Status: Vetoed, May 14, 2026
What the bill says
An Act relating to revenue and taxation; amending 68 O.S. 2021, Section 2358, as last amended by Section 155, Chapter 452, O.S.L. 2024 (68 O.S. Supp. 2025, Section 2358), which relates to adjustments; eliminating limitation on itemization of wagering losses for certain tax years; updating statutory language; updating statutory references; and providing an effective date. SUBJECT: Revenue and taxation.
From the enrolled text, April 28, 2026:
An Act relating to revenue and taxation; amending 68 O.S. 2021, Section 2358, as last amended by Section 155, Chapter 452, O.S.L. 2024 (68 O.S. Supp. 2025, Section 2358), which relates to adjustments; eliminating limitation on itemization of wagering losses for certain tax years; updating statutory language; updating statutory references; and providing an effective date. SUBJECT: Revenue and taxation SECTION 1. AMENDATORY 68 O.S. 2021, Section 2358, as last amended by Section 155, Chapter 452, O.S.L. 2024 (68 O.S. Supp. 2025, Section 2358), is amended to read as follows: Section 2358. For all tax years beginning after December 31, 1981, taxable income and adjusted gross income shall be adjusted to arrive at Oklahoma taxable income and Oklahoma adjusted gross income as required by this section. A. The taxable income of any taxpayer shall be adjusted to arrive at Oklahoma taxable income for corporations and Oklahoma adjusted gross income for individuals, as follows: 1. There shall be added interest income on obligations of any state or political subdivision thereto which is not otherwise exempted pursuant to other laws of this state, to the extent that such interest is not included in taxable income and adjusted gross income. 2. There shall be deducted amounts included in such income that the state is prohibited from taxing because of the provisions of the Federal …
Sponsors
- Andy Fugate (D, HD-094)
- Annie Menz (D, HD-045)
- Kyle Hilbert (R, HD-029) · primary sponsor
Latest actions
- : Filed with Secretary of State
- : Measure sent to House
- : Veto overridden: Ayes: 35 Nays: 10
- : To Senate
- : Veto overridden: Ayes: 68 Nays: 15
- : Vetoed 05/01/2026
- : Sent to Governor
- : Enrolled measure signed, returned to House
- : Enrolled, signed, to Senate
- : Referred for enrollment
Votes
- Floor Vote (May 14, 2026): 35 yea, 10 nay, passed
- Floor Vote (May 6, 2026): 68 yea, 15 nay, passed
- Third Reading (April 28, 2026): 38 yea, 9 nay, passed
- Senate Rules Committee (April 20, 2026): 16 yea, 1 nay, passed
- Third Reading (March 11, 2026): 70 yea, 15 nay, passed
- Floor Vote (February 17, 2026): 30 yea, 0 nay, passed
Common questions
- What is HB4432?
- HB4432 is a bill in the Oklahoma Legislature (2026 Regular Session): Revenue and taxation; adjustments; eliminating limitation on itemization of wagering losses for certain tax years; effective date.
- What does HB4432 do?
- In its own words: An Act relating to revenue and taxation; amending 68 O.S. 2021, Section 2358, as last amended by Section 155, Chapter 452, O.S.L. 2024 (68 O.S. Supp. 2025, Section 2358), which relates to adjustments; eliminating limitation on itemization of wagering losses for certain tax years; updating statutory language; updating statutory references; and providing an effective date. SUBJECT: Revenue and taxation.
- What is the status of HB4432?
- Vetoed as of May 14, 2026. Latest action: Filed with Secretary of State (May 14, 2026).
- Who sponsored HB4432?
- Kyle Hilbert (R, HD-029), with 2 co-sponsors.
- Where is the official record for HB4432?
- On the Oklahoma Legislature website: https://www.oklegislature.gov/BillInfo.aspx?Bill=HB4432&Session=2600
Source: official Oklahoma record. Tracked by Delilah, AI for legislation across all 50 states and Congress.