Bill > SB232

This bill modifies sales tax exemptions related to media production facilities in Oklahoma. It creates a new legal framework for designating and supporting media production facilities by allowing local governments to nominate locations for potential tax exemptions. Under the new law, a "media production facility" is defined as a specialized structure used for creating production projects like films, television programs, video games, and digital media. The Oklahoma Film and Music Office will be responsible for accepting and approving applications for qualified media production facilities based on specific criteria, including the facility's potential economic benefit to the state. The bill limits the number of qualified facility designations to five at any given time and provides a two-year tax exemption period for approved facilities. Specifically, the bill allows sales tax exemptions for tangible personal property and services used in the construction, renovation, improvement, or expansion of these media production facilities. Local governments, including cities, towns, municipalities, and counties, can nominate potential locations, with additional requirements for locations in counties that levy sales tax. The effective date of the bill is November 1, 2025, giving stakeholders ample time to prepare for the new regulations.

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb232&Session=2500