The bill amends the existing "Compete with Canada Film Act" to be renamed the "Oklahoma is Bringing Sitcoms Home from Hollywood Act." It modifies various sections related to the production of live audience episodic television in Oklahoma, emphasizing the importance of this industry for job creation and economic growth. The legislative findings now highlight a focus on family-friendly content targeting Middle America, and the definitions have been updated to specifically include "live audience episodic television" and related terms.

Additionally, the bill introduces a rebate program that offers up to 30% of documented expenditures for live audience episodic series produced in Oklahoma, with a cap on total claims per fiscal year increased to $10 million. The bill also establishes a revolving fund for the rebate program and outlines eligibility requirements for production companies seeking rebates. The provisions of the act are set to terminate on July 1, 2032, and the act will take effect on November 1, 2025.

Statutes affected:
Introduced: 68-3623, 68-3624