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Read. Follow. Verify.Oklahoma House Bill 1725 Authorizes Tax Deductions for Insured Loss Savings Accounts and Establishes Income Tax Adjustments
Last action · February 7, 2025: Referred to Appropriations and Budget Finance Subcommittee
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What This Bill Proposed
Oklahoma House Bill 1725 creates a state income tax deduction of up to $10,000 for single filers and $20,000 for joint filers for contributions made to qualified insured loss savings accounts for primary residences or motor vehicles, effective November 1, 2025. The legislation also exempts interest income from these accounts from state taxation and allows withdrawals for specific insurance deductibles and disaster-related repair expenses.
Residents maintaining qualifying insured loss savings accounts can lower their state taxable income by up to $20,000 annually while protecting interest earnings from state tax levies, directly altering tax liabilities for property owners saving against property damage or insurance deductibles.
- House Bill 1725 was introduced during the 1st Session of the 60th Oklahoma Legislature in 2025. context
- The measure amends Oklahoma's existing tax code provisions concerning taxable income adjustments under Title 68 of the Oklahoma Statutes. context
Who It Would Have Affected
Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.
Natural persons
Taxpayers gain the eligibility to claim state income tax deductions for contributions to qualified insured loss savings accounts and tax exemptions on generated interest.
Oklahoma Tax Commission
The agency is responsible for administering tax adjustments, overseeing state taxable income calculations, and enforcing tax code provisions.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What is the maximum tax deduction allowed for contributions to a qualified insured loss savings account?
What purposes can funds be withdrawn for from a qualified insured loss savings account without penalty?
When does this act become effective?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
This bill did not become law - Died at adjournment · in House committee.
Procedural history
6 actions- Feb 7, 2025HouseCommitteeReferred to Appropriations and Budget Finance Subcommittee
- Feb 5, 2025HouseCommitteeReferred to Appropriations and Budget
- Feb 5, 2025HouseCommitteeWithdrawn from Rules Committee
- Feb 4, 2025HouseCommitteeSecond Reading referred to Rules
- Feb 3, 2025HouseAuthored by Representative Sneed
- Feb 3, 2025HouseIntroducedFirst Reading
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Creation of Insured Loss Savings Incentives
The bill establishes a specialized tax-advantaged savings mechanism specifically aimed at helping residents cover property and vehicle insurance deductibles and disaster losses.
Connected Entities
Sources
www.oklegislature.gov
Analysis Score
0–100- Significance20Lowered because this bill did not pass (its text scored 65)
- Controversy15Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz25Current news / social attention level
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