Senate Bill No. 687 establishes a rebate program for sales tax exemptions related to broadband service equipment purchases aimed at underserved or unserved areas in Oklahoma. The bill amends Section 1357.21 of Title 68, specifying that the Oklahoma Broadband Office and the Oklahoma Tax Commission will administer the rebate program. Claims for rebates must demonstrate that the equipment purchased has resulted in net growth in potential customers served. The bill sets a rebate limit of $42 million, with specific allocations for projects in counties based on population density. Claims for rebates must be filed by September 1 of the following year after the equipment purchase, with the Oklahoma Broadband Office responsible for approving claims starting in 2025.

Additionally, the bill creates the Oklahoma Broadband Rebate Revolving Fund, which will be used to pay rebate claims and is not subject to fiscal year limitations. The state's liability for rebate payments is limited to the fund's balance. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.

Statutes affected:
Introduced: 68-1357.21
Committee Substitute: 68-1357.21
Floor (Senate): 68-1357.21
Engrossed: 68-1357.21
Sub Committee OR Policy Committee Recommendations (House) Sub Committee Recommendation: 68-1357.21