Small business incubators; requiring submission of certain information to the Oklahoma Commerce Department to qualify for certain income tax exemption. Effective date.
Senate Bill 573 modifies the state income tax exemption available to tenants of small business incubators in Oklahoma. Effective for tax year 2026 and beyond, businesses seeking to continue this exemption after their first year must submit specific operational and financial information to the Oklahoma Department of Commerce. This required data includes details on employment levels, revenues, costs, and any other state financial assistance received. The bill ensures that businesses utilizing the exemption provide regular updates on their activities.
Bill status
passed both
4 of 5 stages cleared
Introduction
Feb 2025
Committee Review
May 2025
Senate Passage
Mar 2025
House Passage
May 2025
Governor
Introduced Feb 3, 2025
Last action May 14, 2025
Maddy AI version diff · 4 comparisons
What changed between versions
Floor (House)
→
Floor (Senate)
·
3 edits
MINOR
The bill was revised to reflect its progression from the House to the Senate, with minor formatting adjustments to the header and committee information. The substantive policy content regarding small business incubator tax exemptions and reporting requirements remains unchanged.
TECHNICAL
Header text changed from 'HOUSE OF REPRESENTATIVES' to 'SENATE FLOOR VERSION' with updated date and page numbering.
Committee report section updated to reflect Senate floor version with Committee on Economic Development, Workforce and Tourism instead of Appropriations and Budget.
Minor formatting adjustments to line numbers and spacing throughout the document.
Floor votes
How they voted
This bill passed the Senate by voice vote (no roll call recorded).
Full legislative history
Actions timeline
Total actions
23
Key actions
6
Committee
6
May 6, 2025
Committee
Referred for enrollment
upper
May 6, 2025
Lower · Passed
Third Reading, Measure passed: Ayes: 73 Nays: 18
lower
Apr 17, 2025
Lower · Passed
CR; Do Pass Appropriations and Budget Committee
lower
Apr 7, 2025
Lower · Passed
Recommendation to the full committee; Do Pass Appropriations and Budget Natural Resources Subcommittee
lower
Apr 2, 2025
Committee
Referred to Appropriations and Budget Natural Resources Subcommittee
lower
Mar 13, 2025
Introduced
First Reading
lower
Mar 13, 2025
Upper · Passed
Engrossed to House
upper
Mar 12, 2025
Committee
Referred for engrossment
upper
Mar 12, 2025
Upper · Passed
Measure passed: Ayes: 44 Nays: 0
upper
Feb 19, 2025
Upper · Passed
Reported Do Pass Economic Development, Workforce and Tourism committee; CR filed
upper
Feb 3, 2025
Introduced
First Reading
upper
2 primary · 0 co-sponsors
Sponsors
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