HB 2894: Revenue and taxation; Oklahoma Tourism Development Act; inducement cap; sunset; effective date. - Oklahoma

Floor (House) → Floor (Senate) · 5 edits

MODERATE

The Senate version of HB 2894 modifies the Oklahoma Tourism Development Act inducements by changing the date that prohibits certain sales tax credits, adjusting credit percentages for different project cost tiers, and adding provisions for Entertainment Districts to allow sales tax credit pass-throughs and incentive payments based on sales tax collections.

Scope change

The bill's scope expanded to include specific provisions for Entertainment Districts, allowing approved companies to pass-through sales tax credits to tenant parties and receive incentive payments based on sales tax collections rather than just traditional sales tax credits.

TIMELINE

Changed the date that prohibits the granting of certain sales tax credits and incentive payment rights from the House version to a new date in the Senate version.

FISCAL

Adjusted sales tax credit percentages: projects between $500,000-$1,000,000 remain at 10%, but projects over $1,000,000 increased from 10% to 25%.

ELIGIBILITY

Added new eligibility for Entertainment Districts, allowing approved companies to pass-through sales tax credits to tenant parties and elect to receive incentive payments based on sales tax collections.

REQUIREMENT

Requires joint filing of written credit pass-through agreements with the Oklahoma Tax Commission within 30 days of the effective date for Entertainment District projects.

ADDED

Added requirement that approved companies can only receive 10% of the incentive payment amount during each calendar year.

House Committee Substitute → Floor (House) · 1 edit

MINOR

The bill was renumbered from Committee Substitute to Floor Version and the sponsor's affiliation was updated to include 'of the House'. The substantive policy content regarding tourism tax credits remains unchanged, with no modifications to eligibility thresholds, credit amounts, or program requirements.

TECHNICAL

Header changed from 'COMMITTEE SUBSTITUTE' to 'HOUSE OF REPRESENTATIVES - FLOOR VERSION' with updated page numbering and sponsor attribution.

Engrossed → House Committee Substitute · 3 edits

MINOR

The bill was amended from its Engrossed version to a House Committee Substitute version, primarily adding a new page header and footer with page numbers and a reference number. The substantive policy content regarding sales tax credits, inducement amounts, and eligibility criteria for tourism projects appears unchanged in the visible text, though the amendment process indicates legislative review occurred.

Scope change

No substantive change to the bill's scope or applicability; changes appear to be formatting and procedural additions from the House Committee review process.

TECHNICAL

Added page header and footer with 'STATE OF OKLAHOMA', '1st Session of the 60th Legislature (2025)', 'COMMITTEE SUBSTITUTE', and page numbering references (Req. No. 13255, Page 1-4) to indicate this is a revised version of the bill.

Added new text at the end of the visible excerpt: 'As soon as practicable after the end of each calendar year during the term of the agreement, the approved company shall file a claim' which appears to be the beginning of a new subsection.

Removed the original Engrossed House title page header and replaced it with the Committee Substitute header, indicating this version has been reviewed and amended by the House Committee.

Introduced → Engrossed · 4 edits · Mar 26, 2025

MODERATE

HB 2894 was amended from its introduced version to the engrossed version, primarily updating the bill's title and summary to reflect a change in the date that prohibits granting certain sales tax credits and incentive payment rights. The substantive text of the bill appears largely unchanged, with formatting adjustments and page number updates.

Scope change

The bill's scope remains focused on Oklahoma Tourism Development Act inducements, though the summary was updated to reflect a change in the prohibition date for certain tax credits.

TECHNICAL

Bill title and sponsor information updated to reflect engrossed status with additional Senate sponsor listed.

Summary text changed from 'increasing the cap on cumulative inducements per year; extending sunset' to 'changing date that prohibits the granting of certain sales tax credits and incentive payment rights'.

Page headers and footers updated from 'AS INTRODUCED' and 'Req. No. 10633' to 'ENGROSSED HOUSE' and 'ENGR. H. B. NO. 2894'.

Minor line spacing and formatting adjustments throughout the document.

Revenue and taxation; Oklahoma Tourism Development Act; inducement cap; sunset; effective date.

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