Bill > HB2218

This bill establishes the Local Music Incentive Act of 2025, which creates a tax rebate program to support local music venues and performers in Oklahoma. The act defines several key terms, including "eligible venue" (a location that can host musical performances and sell taxable goods), "local performer" (an Oklahoma resident or resident-owned music act), and "eligible performance" (a musical event by local performers). The bill allows eligible venue entities to receive a tax rebate of either 25% (for venues up to 300 persons) or 50% (for venues between 300-600 persons) on sales tax or mixed beverage gross receipts tax collected during a 24-hour period surrounding a qualifying local music performance. To qualify, venues must pay local performers at least $100 for a performance of at least 30 minutes, with additional compensation for performances longer than one hour. Venues can apply for these rebates quarterly, submitting applications to the Oklahoma Tax Commission by specific dates each year. The bill also creates a Local Music Incentive Revolving Fund to process these rebate payments, with the Oklahoma Film and Music Office assisting in implementation. The act is set to become effective on July 1, 2025, with an emergency clause allowing immediate implementation upon passage.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2218&Session=2600