OK HB1532

Amends 68 O.S. 2011, Section 1356 to add a new sales tax exemption (paragraph 75) for organizations exempt from federal income tax under IRC Section 501(c)(3) that have been organized for at least 25 years and use athletics as a ministry to impact the world.

The new exemption applies to sales of tangible personal property or services to or by qualifying athletics-related ministry organizations operating through their Oklahoma offices.

Effective date of the bill is July 1, 2015, with an emergency clause allowing immediate implementation upon passage and approval.

The amendment is part of a broader statute (68 O.S. 2011, Section 1356) that establishes numerous other sales tax exemptions for governmental entities, nonprofit organizations, educational institutions, and various charitable purposes.