SB 151 Summary

• Creates the Oklahoma Neighborhood Revitalization Fund in the State Treasury, administered by the Oklahoma Department of Commerce, funded by $5 million annually from sales tax revenue beginning in fiscal year 2026.

• Allocates funds only to municipalities with populations under 25,000 (per latest Federal Decennial Census) for improvements to sidewalks, street lighting, signage, roadside beautification, and other aesthetic enhancements.

• Requires municipalities to provide 20% matching funds and limits individual projects to a maximum cost of $500,000; initial application deadline is May 1, 2026, with first fund distribution by October 1, 2026.

• Department reviews applications in order received and distributes funds based on relevant factors it determines; no municipality may receive more than one project award per fiscal year.

• Amends 68 O.S. 2021, Section 1353 to designate the first $5 million in sales tax revenue annually for the revitalization fund; takes effect July 1, 2025 with emergency declaration.