The bill amends Section 1357 of the Oklahoma Sales Tax Code to introduce a new exemption for the construction of qualified media production facilities. It defines specific terms related to these facilities and requires the Oklahoma Film and Music Office to accept applications for such designations, which must be nominated by local governments. The bill outlines criteria for approval, including the facility's construction or renovation, workforce availability, and potential benefits to the state. The exemption will apply to sales occurring during the designated exemption period and is limited to a maximum of five qualified media production facility designations at any time.

Key changes include replacing the term "motion picture or television production company" with "qualified media production facility" and expanding the exemption to cover not just construction but also renovation, improvement, or expansion of media production facilities. The designation will last for two years, and the Oklahoma Tax Commission will be notified of approved applications. The bill also authorizes the Oklahoma Department of Commerce and the Tax Commission to create rules for implementation, with an effective date set for November 1, 2025.

Statutes affected:
Introduced: 68-1357