Representative Cody Maynard

R

District 21

Hi, I'm Cody Maynard and I represent the people of Oklahoma's 21st District.


representative

News & Announcements

Mar 25, 2025
Recent Posts

Maynard Advances Bill to Establish Gold Depository

OKLAHOMA CITY – Rep. Cody Maynard, R-Durant, on Monday passed a bill in the House that would allow the establishment of transactional gold and silver depository in Oklahoma. House Bill 1197 would allow the state treasurer to either establish a depository in the state or contract with a third-party vendor to give citizens the option of buying and depositing gold or silver and to use a transaction card to spend their assets. "This would give our citizens an additional option for saving and transacting in a way that protects against inflation and economic uncertainty," Maynard said. "This measure would establish Oklahoma as the first state to allow a person to use their gold or silver as a spendable asset." Maynard explained that about $800 billion in gold exists in the United States that currently is not usable by the average citizen. This legislation unlocks the resource, giving citizens purchasing power and could allow local banks to tie into the transactional aspect of the process. He said software already exists to allow the types of calculating necessary to determine the current price of gold or silver and convert it to U.S. dollars. He said gold and silver have been recognized as a type of money for more than 5,000 years. The U.S. Constitution leaves the matter of gold and silver being used as legal tender to the states, and this allows the state to exercise this right on behalf of the citizens who wish to use it in this way. HB1197 now moves to the Senate where it is authored by Sen. David Bullard, R-Durant. 

Mar 25, 2025
Recent Posts

Maynard Passes Strategic Bitcoin Reserve Act to Protect and Grow Oklahoma’s Financial Future

OKLAHOMA CITY – Rep. Cody Maynard, R-Durant, on Monday passed the Strategic Bitcoin Reserve Act in the Oklahoma House of Representatives. House Bill 1203 would allow Oklahoma’s state savings accounts and pension funds to invest in digital assets like Bitcoin. "This is a groundbreaking initiative to position Oklahoma as a national leader in embracing sound money principles and cutting-edge fiscal policy," Maynard said. "It's aligned with President Trump’s vision for digital assets and financial stability." HB1203 would authorize the state treasurer to invest up to 5% of the funds in the state General Revenue Stabilization Fund and Constitutional Reserve Fund in bitcoin or any other digital asset with a market cap of over $500 billion and stable coins. Any state retirement pension also may invest in the same manner if the legislation is enacted. Maynard said the investments would be managed prudently to meet the needs of fund managers. They would generate reliable returns for citizens and safeguard purchasing power against inflationary pressures. He said Bitcoin has proven to be stable over the last 10 years, producing an average annual return of about 49%. “Bitcoin represents freedom from bureaucrats printing away our purchasing power,” Maynard said. “As a decentralized form of money, Bitcoin cannot be manipulated or created by government entities. It is the ultimate store of value for those who believe in financial freedom and sound money principles.” The Strategic Bitcoin Reserve Act would ensure Oklahoma is prepared for a future where digital assets play a pivotal role in the global economy, Maynard said. By allowing state funds to responsibly invest in Bitcoin, the legislation would provide a hedge against inflation and reinforce Oklahoma’s commitment to fiscal responsibility and forward-thinking governance. “This bill is about protecting the hard-earned money of Oklahoma’s citizens,” Maynard continued. “By diversifying our state’s savings and pension funds into digital assets, we are not only securing a stronger financial future for our state but also demonstrating Oklahoma’s leadership in adopting innovative fiscal policies.” The Strategic Bitcoin Reserve Act underscores Maynard’s belief in leveraging technology to empower individuals and governments alike. With Bitcoin’s finite supply and decentralized nature, he said it represents a unique opportunity to strengthen Oklahoma’s financial foundation and ensure sustainable growth for generations to come. Maynard pointed out that without the passage of this legislation, fund managers could currently invest in Bitcoin or in riskier digital currencies without any cap, so this legislation puts prudent guardrails around the state's investment of taxpayer dollars. HB1203 now moves to the Senate where it is authored by Sen. Avery Frix, R-Muskogee.  

Feb 6, 2025
Recent Posts

Maynard Advances Tax Credit for Pregnancy Resource Center Donations

Rep. Cody Maynard, R-Durant, on Tuesday advanced legislation that would allow a 70% tax credit for any taxpayer contributing to a pregnancy resource center beginning in tax year 2026. House Bill 1201 would cap credits at $50,000 for individuals and $5 million in total for the state annually, but excess could be carried forward to claim in the next tax year. The bill passed in the Appropriations & Budget Finance Subcommittee and now is eligible to be considered in full A&B. "Oklahoma's nearly 40 pregnancy resource centers play a vital role in assisting low-income women and families, offering services such as free ultrasounds, pregnancy tests, counseling, parenting programs, and more," Maynard said. "By incentivizing donations through this tax credit, the state not only invests in a valuable network that provides essential healthcare but also puts the power back in the hands of the people to decide which centers these tax credits will ultimately benefit." Under the provisions of the bill, the amount of the contribution must be at least $100 to qualify for the credit. The authorized credit would not be allowed to reduce the tax liability of the taxpayer to less than zero and may not be assigned, transferred or sold. Maynard filed a committee substitute of the bill that would make the credit effective for tax years 2026 through 2031 and that would require the director of the Oklahoma State Department of Health to determine, at least annually, which facilities in this state may be classified as pregnancy resource centers. The director can require whatever information is reasonably necessary to make the determination, according to the definitions of a center outlined in the bill. A friendly amendment is anticipated on the bill that would include post-birth care for mothers. If enacted, the credit would become effective Jan. 1, 2026.