SB 249: Oklahoma Tourism Development Act; increasing cumulative inducement per year. Effective date. - Oklahoma

Floor (House) → Floor (Senate) · 4 edits

MODERATE

The bill was amended to add a new sponsor from the House (Townley) and update the bill title to reflect increased cumulative inducement amounts and extended sunset provisions. The Senate version adds specific language about issuing incentive payment memorandums to approved companies, clarifying that companies receive up to 25% of approved costs as incentives, with a 10% annual cap during each calendar year.

Scope change

The bill now explicitly addresses increased cumulative inducement amounts and extended sunset provisions, broadening the scope of financial incentives available under the Oklahoma Tourism Development Act.

FISCAL

Added language specifying that incentive payments can be up to 25% of approved costs, with a 10% annual cap per calendar year

REQUIREMENT

Added requirement for Tax Commission to issue incentive payment memorandums to approved companies

SCOPE

Updated bill title to include increased cumulative inducement per year and extended sunset provisions

TECHNICAL

Added House sponsor Townley to the bill sponsors list

SB249 (3-17-25) (THOMPSON) FA2.PDF → Floor (House) · 5 edits

MODERATE

This bill amends Oklahoma's tourism inducement program to clarify and expand tax credit eligibility for companies investing in tourism projects. The changes establish different credit percentages based on investment levels, introduce pass-through credit options for entertainment districts, and add specific requirements for tracking and certifying these credits.

Scope change

The bill expands the scope of the Oklahoma Tourism Development Act by adding detailed provisions for sales tax credits and incentive payments for tourism projects, particularly for entertainment districts and larger investments.

ELIGIBILITY

Added specific eligibility criteria for sales tax credits based on investment amounts: 10% credit for projects between $500,000-$1,000,000 and 25% credit for projects over $1,000,000, all limited to revenue-neutral amounts.

FISCAL

Introduced new funding mechanism allowing approved companies to pass-through sales tax credits to Entertainment District Tenant Parties, with specific filing requirements and tracking systems.

Created new option for entertainment district projects where approved companies can elect to receive incentive payments based on sales tax collections from tenant parties instead of traditional sales tax credits.

REQUIREMENT

Added new certification requirements where companies must certify expenditure amounts and the Executive Director must certify compliance with the Tourism Development Act before credits are issued.

ENFORCEMENT

Established new requirements for the Oklahoma Tax Commission to develop standard forms, tracking systems, and rules for verifying and recording pass-through sales tax credits.

SB249 (3-10-25) (THOMPSON) WDFA1.PDF → SB249 (3-17-25) (THOMPSON) FA2.PDF · 3 edits

MINOR

The amendment text was expanded to clarify that the proposed changes involve restoring all previously stricken language, deleting all new language, and updating the bill title accordingly. The timestamp of the amendment was updated from 2:29 PM to 2:31 PM, and the layout of the 'Date and Time Filed' section was slightly adjusted with additional spacing.

TECHNICAL

The amendment language was revised to be more comprehensive by explicitly stating that all stricken language should be restored and all new language should be deleted, rather than just referring to specific lines.

The timestamp on the amendment document was updated from 2:29 PM to 2:31 PM on March 17, 2025.

Minor formatting adjustments were made to the 'Date and Time Filed' section, including slight spacing changes in the 'Amendment Cycle Extended' and 'Secondary Amendment' labels.

SB249 (3-10-25) (THOMPSON) FA1.PDF → SB249 (3-10-25) (THOMPSON) WDFA1.PDF · 1 edit

MINOR

The bill version was updated from a draft to a final amended version, with the timestamp changed from March 10, 2025 to March 17, 2025. No substantive policy changes, scope modifications, or new requirements were identified in the provided text snippet.

TECHNICAL

Document timestamp was updated from 3/10/2025 1:45 PM to 3/17/2025 2:29 PM, indicating a revision to the final version.

Enrolled (final version) → SB249 (3-10-25) (THOMPSON) FA1.PDF · 4 edits

MODERATE

The bill was amended to restore previously deleted language and adjust formatting for the Senate chamber. The substantive policy content regarding tourism tax credits and inducements remains intact, though the document structure was modified to conform to Senate amendment procedures.

Scope change

The bill's scope and applicability remain unchanged; only the document format and amendment tracking information were modified.

TECHNICAL

Removed the formal 'An Act' header and 'BE IT ENACTED' language, replacing them with Senate chamber amendment formatting.

Added amendment tracking information including floor amendment notation, committee amendment fields, and submission details for Senator Thompson dated 3/10/2025.

Changed the subject line from 'Tourism development' to include amendment tracking information and removed the original act title description.

Inserted a motion to amend Senate Bill No. 249 by restoring stricken language on page 6, lines 4 and 5.

Engrossed → Enrolled (final version) · 4 edits · Apr 30, 2025

MODERATE

The bill was finalized from Engrossed to Enrolled status with substantive policy changes to Oklahoma's tourism inducement program. The main changes include adding a cumulative $30 million annual funding cap, clarifying incentive payment rules for Entertainment Districts, and reorganizing the text structure for final legislative approval.

Scope change

The bill's scope remains focused on amending the Oklahoma Tourism Development Act, specifically Section 2397 regarding inducement claims for tourism projects.

FISCAL

Added a new provision limiting cumulative inducements to $30 million per year under the Oklahoma Tourism Development Act.

ELIGIBILITY

Modified the incentive payment structure for Entertainment District projects, clarifying that approved companies can elect to receive payments based on sales tax collections from tenant parties rather than direct tax credits.

REQUIREMENT

Added requirements for Entertainment District Tenant Parties to file incentive payment claims with the Tax Commission and for the Tax Commission to verify claims against actual sales tax liability received.

TECHNICAL

Changed document header from 'ENGROSSED SENATE' to 'ENROLLED SENATE' and added subject line 'Tourism development' indicating final legislative approval status.

Introduced → Engrossed · 4 edits · Mar 26, 2025

MODERATE

SB 249 was amended to extend the sunset provision for tourism inducement claims and clarify the incentive payment structure for large tourism projects. The bill now allows companies with projects over $1 million to choose between a sales tax credit or an incentive payment, with the incentive payment limited to 10% per calendar year. The amendment also removes the requirement for Entertainment District projects to pass-through credits to tenants, instead allowing companies to receive incentive payments directly based on sales tax collections.

Scope change

The bill's scope was expanded to provide more flexibility for large tourism projects by offering an alternative incentive payment option in addition to the sales tax credit, and by removing pass-through requirements for Entertainment District projects.

TIMELINE

Extended the sunset provision for tourism inducement claims to provide longer-term certainty for project developers.

FISCAL

Added an alternative incentive payment option for projects over $1 million, allowing companies to receive payments based on sales tax collections instead of sales tax credits.

ELIGIBILITY

Changed Entertainment District projects from requiring credit pass-through to tenants to allowing companies to receive incentive payments directly.

REQUIREMENT

Added a cap limiting incentive payments to 10% of the total amount during each calendar year.

Oklahoma Tourism Development Act; increasing cumulative inducement per year. Effective date.

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