The bill amends Section 1356 of Title 68 of the Oklahoma Statutes to introduce a sales tax exemption for certain nonprofit organizations with gross revenues not exceeding $3 million during the preceding tax year. This exemption specifically excludes purchases of alcohol and tobacco. Additionally, the bill clarifies existing exemptions and introduces new categories of exempt entities, including organizations that rehabilitate court-adjudicated juveniles and cultural organizations that promote educational events for disadvantaged children. It also specifies that sales made by educational institutions, fire departments, and museums will be exempt from sales tax under certain conditions.

Furthermore, the bill establishes a framework for refunding sales tax for specific transactions involving public trusts and nonprofit organizations, with a cap on the total refunds available. It includes provisions for sales related to professional sporting events and tickets for athletic competitions, ensuring these sales are exempt from state taxes under defined conditions. The bill is set to take effect on July 1, 2025, and declares an emergency for immediate implementation, highlighting the urgency to support nonprofit organizations that serve vulnerable populations and respond to disasters. Overall, the bill aims to enhance support for various charitable organizations through expanded tax exemptions.

Statutes affected:
Introduced: 68-1356