The bill amends several sections of the Oklahoma Statutes related to property tax relief, specifically targeting individuals aged sixty-five and older, totally disabled persons, and certain disabled veterans. It modifies the income limitation for eligibility from a fixed amount of $12,000 to a variable amount determined by the United States Department of Housing and Urban Development, which is set at seventy-five percent of the estimated median income for the relevant county or metropolitan area. Additionally, the bill expands eligibility to include honorably discharged veterans with a specified disability rating and their surviving spouses, allowing them to file claims for property tax relief.

Furthermore, the bill updates the maximum claim limit from $200 to $1,000 and requires the Oklahoma Tax Commission to provide annual income limitation information to county assessors. It also includes provisions for gender-neutral language and clarifies that each head of household can file only one claim per year. The act is set to take effect on January 1, 2026.