The bill amends Section 1357 of the Oklahoma Sales Tax Code to enhance exemptions related to media production by introducing a new exemption for the construction of qualified media production facilities. It defines key terms associated with this exemption and assigns the Oklahoma Film and Music Office the responsibility of accepting applications for these exemptions, which must be nominated by local governments. The bill outlines specific criteria for approval, including the requirement for adequate workforce and infrastructure, and mandates that the Oklahoma Tax Commission be notified upon approval. The exemption is valid for a duration of two years.

Additionally, the bill updates the terminology from "motion picture or television production company" to "qualified media production facility," clarifying that the exemption applies to sales related to the construction, renovation, improvement, or expansion of such facilities. It also includes various insertions to define "media production facility" and "production project," encompassing a range of production spaces. The bill specifies that only five qualified media production facility designations can exist at any time and establishes that the act will take effect on November 1, 2025. The deletion of the term "NAICS" in favor of "North American Industry Classification System (NAICS)" further refines the language for clarity.

Statutes affected:
Introduced: 68-1357