Economic Incentives; expanding requirements; defining term. Effective date.

SB 471 requires all new Oklahoma economic incentives for businesses (including tax credits, grants, loans, or payments) to include measurable goals like job creation or investment targets, and limits tax credit programs to a maximum of 10 years. It directly affects businesses receiving state economic incentives by mandating clear outcome tracking and time limits. The bill expands the definition of "incentive" to cover tax credits tied to specific jobs or industries, grants, and state payments. The law takes effect November 1, 2025.