This bill establishes a new income tax credit program for builders of eligible energy-efficient residential properties in Oklahoma, effective January 1, 2026. It defines "eligible energy efficient residential property" as newly constructed homes completed on or after this date and outlines the criteria for tax credits. Builders can receive a credit of $2,000 for properties certified under the EPA's Energy Star Homes program and $4,000 for those certified under the Department of Energy's Zero Energy Ready Homes program. Each builder can claim these credits only once per tax year when the property is completed.

Additionally, the bill allows for the carryover of unused tax credits for up to four years if the credits exceed the taxpayer's income tax liability. It also permits the transferability of these credits to subsequent transferees, enhancing the financial flexibility for builders. The new section of law will be codified as Section 2357.701 of Title 68 in the Oklahoma Statutes.