SB 575 Summary

• Amends the Oklahoma Local Development and Enterprise Zone Incentive Leverage Act to establish annual reporting requirements for enterprises and entities receiving state matching payments.

• Requires recipients to report employment and payroll amounts, capital investment amounts, and changes in assessed property values resulting from projects or facility expansions.

• Mandates the Oklahoma Department of Commerce to make reported information publicly available on its website in disaggregated, per-project format while providing consent for sharing data with the Incentive Evaluation Commission for evaluation purposes.

• Requires the Department to report employment, capital investment, and assessed value data to the Oklahoma Tax Commission for evaluation purposes under Section 847.

• Effective November 1, 2025.