HB 2218 Summary

• Enacts the Local Music Incentive Act of 2025 providing tax rebates to eligible venue entities that host local performers for live music performances.

• Eligible venue entities can receive rebates of 25% (venues with capacity ≤300 persons) or 50% (venues with capacity 301-600 persons) of sales tax and/or mixed beverage gross receipts tax collected during the 24-hour period surrounding a performance.

• Requires eligible venue entities to pay local performers at least $100 for solo performances up to one hour, or $100 per hour for longer performances, and minimum 30-minute performance duration.

• Establishes the Local Music Incentive Revolving Fund within the State Treasury for the Oklahoma Tax Commission to distribute rebate payments, with applications submitted quarterly by April 20, July 20, October 20, and January 20 deadlines.

• Effective July 1, 2025, with an emergency declaration allowing immediate effect upon passage and approval.