Recent Articles

Proposal aims to get a grip on Oklahoma’s business tax breaks

Oklahoma’s more than 70 business incentives are one of the primary ways the state attempts to create jobs and encourage businesses to locate and expand in Oklahoma. These tax credits, tax exemptions, and cash rebates also have a significant cost.… Read more [More...]

Budget Trends and Outlook – March 2015

Oklahoma faces a giant budget shortfall for the coming year, the result of both slumping energy prices and policy decisions that have dampened revenue collections and increased off-the-top allocations. Our Budget Trends and Outlook fact sheet explains the budget situation… Read more [More...]

Rainy Day Fund 101

With the state now facing a massive budget shortfall, attention has turned to tapping the Rainy Day Fund to close a portion of the gap. This post gives an overview of the Rainy Day Fund and how it might be… Read more [More...]

Oklahoma’s Promise (OHLAP)

The Oklahoma Higher Learning Access Program (OHLAP), also known as Oklahoma’s Promise, is an early commitment financial aid program that covers tuition and other college costs for certain Oklahoma students. Oklahoma’s Promise is open to students attending public or private… Read more [More...]

Federal Poverty Level

The federal poverty level (FPL) is a measure of income issued annually by the Department of Health and Human Services that is used to determine eligibility for various public programs and benefits, including Medicaid, health insurance premium tax credits, the… Read more [More...]

Sleeping dogs of the 2015 session

The 2015 session is now underway and it’s clear that this year, as always, will feature heated debates on a multitude of contentious issues, from proposals to expand school choice through vouchers and charter schools to efforts to rein in… Read more [More...]

Rainy Day Fund

The Rainy Day Fund (formally known as the Constitutional Reserve Fund) was created in 1985 in response to a dramatic revenue downturn. It is designed to collect extra funds when times are good and to spend those funds when revenues… Read more [More...]

House Bill 1017

House Bill 1017, the Education Reform Act of 1990, was landmark legislation that funded a broad range of education initiatives through increased taxes. The Legislature appropriated more than $560 million over five years to implement a wide range of reform… Read more [More...]

1017 Fund

The 1017 Fund, or Education Reform Revolving Fund, is a dedicated revenue fund that is appropriated to the State Department of Education. The fund initially consisted of individual and corporate income tax, sales tax, and use tax revenues attributable to… Read more [More...]

Franchise Tax

Until the end of 2023, Oklahoma levied a franchise tax on all corporations or associations doing business in the state. Corporations were taxed $1.25 for each $1,000 of capital invested or otherwise used in Oklahoma up to a maximum levy… Read more [More...]