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OK SB820
Bill
AI Summary
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Expands the Oklahoma Major Sports Leagues Rebate Program from five to eight eligible leagues by adding the Women's National Basketball Association (WNBA), Women's Professional Fastpitch (WPF), and National Women's Soccer League (NWSL)
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Qualifying professional sports teams can receive quarterly rebate payments capped at $10 million per year, calculated by multiplying the net benefit rate by actual gross payroll for sports-league jobs
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Teams must have projected annual gross payroll of at least $10 million within one year and maintain at least 80% of sports-league jobs as full-time-equivalent positions averaging 30+ hours per week
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Teams that cease business operations in Oklahoma within three years of their first rebate claim must repay all rebate payments received; 5% of each quarterly rebate is transferred to the Oklahoma Quick Action Closing Fund
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Effective date is November 1, 2025; passed the Senate on March 12, 2025
Legislative Description
Oklahoma Five Major Sports Leagues Rebate Program Act; expanding sports leagues eligible for incentives. Effective date.
Last Action
Recommendation to the full committee; Do Pass Appropriations and Budget Finance Subcommittee
4/10/2025