The bill amends Section 1357 of the Oklahoma Sales Tax Code to introduce a new exemption for the construction of qualified media production facilities, defining the associated terms and establishing a framework for their designation. The Oklahoma Film and Music Office will accept applications for these facilities, which must be nominated by local governments that meet specific criteria. The exemption is limited to a designated period, and the Oklahoma Tax Commission must be notified upon the approval of the facility designation. Additionally, the bill updates the terminology related to exemptions for sales to media production companies, changing it from "motion picture or television production company" to "qualified media production facility," thereby broadening the scope to include construction, renovation, improvement, or expansion of such facilities.

Furthermore, the bill introduces a new section to the Oklahoma Statutes that defines a "media production facility" as a structure used exclusively for creating production projects, including films, television programs, and video games. The designation as a qualified media production facility will last for two years, with a maximum of five designations allowed at any time. The Oklahoma Tax Commission will be informed of approved applications, and both the Oklahoma Department of Commerce and the Tax Commission are authorized to create rules for implementing this section. The bill is set to take effect on November 1, 2025.

Statutes affected:
Introduced: 68-1357