SB 1126 Summary

• Modifies the Oklahoma Film Enhancement Rebate Program by adjusting rebate percentages for film and television productions based on expenditure timing.

• Increases rebate cap from $5,000,000 to $8,000,000 annually for fiscal years beginning July 1, 2013 and later.

• Extends program termination date from July 1, 2014 to July 1, 2024, allowing longer eligibility period for film production companies.

• Changes rebate rates: 35% for expenditures made after July 1, 2009 and before July 1, 2013; 25% for expenditures made on or after July 1, 2013.

• Declares an emergency to make the act effective immediately upon passage and approval.