OK HB1220

Municipalities are prohibited from imposing franchise fees on securitization revenue streams related to bonds issued by the Oklahoma Development Finance Authority under both the February 2021 Regulated Utility Consumer Protection Act and the February 2021 Unregulated Utility Consumer Protection Act

Municipalities are prohibited from imposing sales tax, use tax, or other locally authorized taxes on these securitization revenue streams

Restrictions apply to existing bonds issued under the 2021 Acts as well as any future bonds issued by the Oklahoma Development Finance Authority for similar purposes

Legislature declares utility consumer protection measures are matters of statewide concern, not purely local or municipal concern, establishing state authority to preempt municipal fees and taxes on these revenue streams

Includes an emergency clause making the law effective immediately upon passage and approval; passed the House of Representatives on March 3, 2025