Senate Bill No. 274 amends Section 201 of Title 41 of the Oklahoma Statutes, focusing on lease conditions related to tenant felony convictions. The bill allows property owners who receive certain income tax credits to impose conditions in lease agreements based on prior felony convictions of tenants. It specifies that owners can accept or decline lease agreements based on felony convictions for various offenses, including drug-related crimes and violent offenses. The bill also updates statutory language and clarifies that these provisions apply to lease transactions occurring on or after April 29, 2019.

Additionally, the bill introduces a requirement for award recipients of income tax credits to establish a clearly defined criminal history screening policy as part of their tenant selection plan, effective for awards beginning on or after January 1, 2026. This policy must include an individualized review process that considers factors such as the seriousness of the offense, the age of the individual at the time of the offense, and evidence of rehabilitation. The Oklahoma Housing Finance Agency is tasked with reviewing these tenant selection plans to ensure compliance with the new requirements. The act is set to become effective on November 1, 2025.