Oklahoma Quality Events Incentive Act; expanding eligible expenses. Effective date.

SB 1998 expands Oklahoma's Quality Events Incentive Act by broadening the types of expenses eligible for reimbursement from state sales tax revenue generated by qualifying events. It allows local governments (counties or cities) to cover costs like advertising, security, facility rentals, and promotional materials when hosting events that qualify as "new" or "recurring" quality events. Payments are tied to verified incremental sales tax revenue from the event, as determined by an economic impact study reviewed by the Oklahoma Tax Commission. The bill also requires cities designating events to spend at least $5,000 on promotion to qualify.