OK HB2528

Increases vendor sales tax discount from 1% to 3% for goods manufactured in the United States, effective July 1, 2012.

Vendors selling non-U.S. manufactured goods retain the standard 1% sales tax discount.

Creates the Buy America First Revolving Fund managed by Oklahoma Department of Commerce to provide assistance to small businesses producing U.S.-made goods.

Removes the previous $2,500 monthly cap on vendor discounts and requires the Oklahoma Tax Commission to develop a system identifying U.S.-manufactured inventory.

Dedicates incremental sales tax revenue from increased collections to fund small business assistance programs for producers of American-made goods.