Bill > HB3396

This bill requires state and local governments in Oklahoma to disclose the identity of private entities that will benefit from payments or the use of public revenues for major economic development projects, defined as projects involving business entities acquiring or improving property or refurbishing tangible assets with expenditures exceeding $5 million, where public funds are used for for-profit business activities. "Political subdivision" refers to entities like counties, cities, towns, school districts, and certain public trusts, while "public revenue" encompasses funds from taxes, fees, bonds, or other authorized sources. Before any payments are approved or public revenues are made available for such projects, the benefiting entities must be specifically identified, and this disclosure must be made publicly available on a government website at least sixty days in advance, with the act taking effect on November 1, 2026.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb3396&Session=2600