The bill amends the Oklahoma Film Enhancement Rebate Program by modifying the eligibility requirements for the rebate, particularly for faith-based films. It introduces a provision that allows faith-based films with total production costs of $2 million or less to qualify for the rebate program, regardless of the previously established minimum budget requirement of $50,000. This change aims to encourage the production of faith-based films in Oklahoma by making it easier for them to access financial incentives.

Additionally, the bill maintains the existing rebate structure, which offers up to 17% of documented expenditures made in Oklahoma, increasing to 35% for expenditures made after July 1, 2009. The program will continue to be administered by the Oklahoma Film and Music Office and the Oklahoma Tax Commission, with a cap of $8 million on claims approved in a single fiscal year, except for high impact productions that may be exempt from this cap. The bill is set to take effect on November 1, 2026.

Statutes affected:
Introduced: 68-3624