OK SB1998

Amends the Oklahoma Quality Events Incentive Act to expand eligible expenses for state reimbursement to include equipment rental/purchase, professional services, musical talent and production, and safety/security equipment and services from local fire and police departments

Allows any incorporated city or town to designate one event per year as a "quality event" regardless of whether it meets traditional criteria (national organization meeting, championship, etc.), provided the city or certified sponsor invests at least $5,000 in promoting, marketing, or signage

Establishes payment caps of $250,000 per quality event for events meeting traditional criteria and $100,000 per event for locally-designated quality events

Changes reimbursement calculations from actual "incremental state sales tax revenue" collected to "projected incremental sales tax revenue" based on economic impact studies verified by the Oklahoma Tax Commission

Effective date: November 1, 2026