Summary of SB 577

• Manufacturing facilities receiving ad valorem tax exemptions must annually provide reports to the Oklahoma Tax Commission detailing the number of new jobs created and payroll data for those new jobs.

• The Oklahoma Tax Commission shall share the collected job creation and payroll data with the Incentive Evaluation Commission for evaluation purposes only.

• Section 205 of Title 68 is amended to allow disclosure of manufacturing facility exemption information to comply with subsection H of Section 2902, creating a new exception to tax confidentiality rules.

• The bill updates statutory language and references regarding manufacturing facility exemption definitions and application requirements.

• The act becomes effective November 1, 2025.