Oklahoma 2022 Regular Session

Oklahoma Senate Bill SB780

Introduced
2/1/21  

Caption

Microbusiness; defining term; encouraging growth. Effective date.

Impact

Through this recognition, SB780 aims to encourage the continued growth of microbusinesses, thereby fostering a more vibrant entrepreneurial ecosystem in Oklahoma. The legislation implies support measures and resources for microbusinesses may follow, potentially affecting state economic policies and funding allocations. The clear definition could help in tailoring assistance programs designed to further the growth and sustainability of these small-scale enterprises.

Summary

Senate Bill 780 aims to establish a legal definition for 'microbusiness' in Oklahoma, recognizing the vital role these businesses play in the state's economy. The bill defines a microbusiness as an independently owned and operated for-profit entity that employs fewer than twenty full-time equivalent employees, positioning these enterprises as the smallest segment of small businesses within the state. By codifying this definition, the bill seeks to promote a clearer understanding of microbusinesses in legal contexts and enhance their visibility in economic discussions.

Contention

While the bill has a generally positive reception, there may be underlying contentions regarding the classification and support for microbusinesses versus larger small businesses. Critics may argue that emphasizing microbusinesses could divert attention and resources away from larger small businesses that also contribute significantly to the state's economy. Furthermore, the practical implementation of support initiatives remains to be seen, which may lead to future debates about the adequacy of support for different categories of businesses within Oklahoma.

Companion Bills

No companion bills found.

Previously Filed As

OK HB2350

Revenue and taxation; expanding definition; defining terms; effective date.

OK HB2350

Revenue and taxation; expanding definition; defining terms; effective date.

OK HB3738

Sales tax; agriculture exemption; modifying definition; defining terms; effective date.

OK SB1980

Medical marijuana; defining term; modifying definition. Effective date.

OK HB3814

Transportation; modifying definition; defining term; effective date.

OK HB2266

Aerospace; defining terms, modifying list requiring certain permit; effective date.

OK HB2791

Transportation; outdoor advertising definitions; defining term; effective date.

OK HB2791

Transportation; outdoor advertising definitions; defining term; effective date.

OK HB2218

Firearms; defining terms; codification; effective date.

OK HB2218

Firearms; defining terms; codification; effective date.

Similar Bills

No similar bills found.