SB2015

Oklahoma SB2015 modifies incentives and exemptions for local development projects, requiring public benefit and prohibiting exclusive private.

Oklahoma SB2015 amends the Local Development Act to limit incentives and exemptions for businesses and firms, particularly those relocating within the state. It prohibits incentives to businesses subject to recruitment by multiple governmental entities unless approved by the competing entity. Exemptions cannot be granted to out-of-state businesses under similar recruitment. The bill mandates that project plans include provisions benefiting the public and prohibits plans that exclusively benefit private entities.