This bill amends existing Oklahoma law regarding property tax relief, specifically targeting individuals aged sixty-five and older, totally disabled persons, and certain disabled veterans. Key changes include modifying 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 seventy-five percent disability and their surviving spouses, while also ensuring that the language used in the law is gender-neutral.

Furthermore, the bill increases the maximum claim limit for property tax relief from $200 to $1,000, allowing for greater financial assistance to eligible claimants. The Oklahoma Tax Commission is tasked with providing updated income limitation information to county assessors annually. The changes are set to take effect on January 1, 2026, reflecting a significant update to the property tax relief framework in Oklahoma.