Senate Bill No. 578 amends the Oklahoma Quality Events Incentive Act by extending the period during which the act is effective. Specifically, the bill changes the expiration date from June 30, 2026, to June 30, 2031. This extension aims to continue providing incentives for quality events in Oklahoma, thereby supporting economic development and tourism in the state.

Additionally, the bill declares an emergency, indicating that it is necessary for the preservation of public peace, health, or safety, and will take effect immediately upon passage and approval. This urgency underscores the importance of maintaining the incentives provided by the act for the benefit of the state's economy.