SB 1342 Summary

• Amends 68 O.S. 2011, Section 1356 to add a new sales tax exemption for Lions Clubs International organizations that are exempt from federal taxation under Internal Revenue Code Section 501(c)(4).

• Lions Clubs must be organized into districts with more than one million three hundred fifty thousand members worldwide and meet specific criteria related to empowering volunteers and serving humanitarian needs.

• Creates exemption for sales of tangible property or services made by qualifying Lions Clubs organizations.

• Effective date set for November 1, 2014.