Bill > SB820

This bill expands the Oklahoma Major Sports Leagues Rebate Program by adding three additional sports leagues to the existing program: the Women's National Basketball Association (WNBA), Women's Professional Fastpitch (WPF), and National Women's Soccer League (NWSL), alongside the previously covered leagues (NFL, NBA, NHL, MLB, and MLS). Professional sports teams from these leagues can receive quarterly rebate payments from the Oklahoma Tax Commission based on their sports-league jobs' gross payroll, with a maximum annual rebate of $10 million. To qualify, establishments must have an annual gross payroll of at least $10 million within one year and maintain at least 80% of their sports-league jobs in Oklahoma. Eligibility requires applying through the Oklahoma Department of Commerce, and teams with existing Quality Jobs Incentive Program contracts must wait until those contracts expire or terminate. The rebate amount is calculated by multiplying the net benefit rate by the actual gross payroll, and teams must continue to meet specific employment and payroll requirements to maintain their eligibility. The bill aims to provide economic incentives for professional sports teams to establish or maintain operations in Oklahoma, with the rebate payments funded through a special state treasury fund. The provisions will become effective on November 1, 2025.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb820&Session=2600