This bill amends existing Oklahoma income tax law, specifically Sections 2373 and 2385.16, to modify the procedures for tax refunds. It mandates that the Oklahoma Tax Commission must issue refunds exclusively by check, eliminating the previous option for card-based disbursement. Additionally, the bill updates statutory language and references, including changing the term "three (3) year" to "three-year" for clarity. It also specifies that all refunds due to taxpayers who opt not to use direct deposit must be paid by refund checks.

Furthermore, the bill clarifies the handling of tax refunds related to overpayments, particularly for members of federally recognized Indian tribes, ensuring that the three-year limitation for filing claims does not apply in these cases. It also establishes that interest will be paid on refunds issued after January 1, 1996, at a rate of six percent per annum. The bill is set to take effect on November 1, 2026.

Statutes affected:
Introduced: 68-2373