OK HB2344

Reduces the annual payment cap for the Oklahoma Film Enhancement Rebate Program from $5,000,000 to $4,000,000 per fiscal year.

Maintains the 35% rebate rate on documented film production expenditures made after July 1, 2009, with an additional 2% bonus if production companies spend at least $20,000 on Oklahoma resident music or in-state music recording.

Requires production companies to submit documentation of wages paid to state residents, provide evidence of financing and insurance, meet minimum budget requirements of $50,000 ($25,000 in-state), and comply with tax filing and completion bond requirements.

Prohibits production companies from receiving both the film rebate and sales tax exemptions; companies claiming the rebate must repay any previously received sales tax exemptions.

Effective July 1, 2017, with an emergency clause allowing immediate implementation upon passage and approval.