Senate Bill No. 687 establishes a sales tax exemption rebate program aimed at promoting broadband services in underserved and unserved areas of Oklahoma. The bill amends Section 1357.21 of Title 68, specifying that the rebate program will be administered by the Oklahoma Broadband Office and the Oklahoma Tax Commission. It outlines the eligibility criteria for rebate claims, which include the requirement that equipment must be purchased to establish or expand broadband services, and that there must be a net growth in potential customers served as a result of the purchase. The bill also sets a cap on the total rebates that can be paid at $42 million, with specific allocations for projects in counties based on population density.

Additionally, the bill creates the Oklahoma Broadband Rebate Revolving Fund to facilitate the payment of rebate claims, ensuring that the state's liability for these payments is limited to the fund's balance. It mandates that claims for rebates must be filed by September 1 of the year following the purchase, with the Oklahoma Broadband Office responsible for approving claims starting in 2025. The bill also requires the Oklahoma Department of Commerce to prepare a report on the qualifying broadband projects and their impact, which must be filed with state leadership and made available online. The act is set to take effect on July 1, 2025, with an emergency clause for immediate implementation upon passage.

Statutes affected:
Introduced: 68-1357.21
House Committee Substitute for Senate Bill: 68-1357.21
Committee Substitute: 68-1357.21
Floor (House): 68-1357.21
Floor (Senate): 68-1357.21
Engrossed: 68-1357.21
Amended And Engrossed: 68-1357.21
Senate Conference Committee Substitute: 68-1357.21
Enrolled (final version): 68-1357.21
Sub Committee OR Policy Committee Recommendations (House) Sub Committee Recommendation: 68-1357.21