Oklahoma 2024 Regular Session

Oklahoma House Bill HB3964

Introduced

2/5/24

Refer

2/6/24

Report Pass

2/26/24

Engrossed

3/5/24

Refer

3/19/24

Report Pass

3/25/24

Caption

Television episodic film production incentives; revolving fund; fund use; fund issuance; emergency.

Impact

The bill amends existing Oklahoma laws to provide a structured rebate program under the jurisdiction of the Oklahoma Department of Commerce and the Oklahoma Tax Commission. One notable aspect is that the fund will consist of not only taxes collected but also public or private donations, ensuring it is not limited by fiscal year constraints. By facilitating this fund, the state aims to attract more film projects and create jobs, contributing positively to the local economy and raising Oklahoma's profile as a filming location.

Summary

House Bill 3964 aims to enhance television episodic film production in Oklahoma by creating a revolving fund designated as the 'Filmed in Oklahoma Live Studio Audience Episodic TV Program Revolving Fund.' The bill allows for the allocation of funds to incentivize the production of episodic television series filmed in Oklahoma with a live studio audience, thereby supporting local economic development in the entertainment sector. The fund is intended to facilitate rebates for production companies that meet specified criteria, thus fostering a vibrant film industry within the state.

Sentiment

The sentiment regarding HB3964 appears largely positive among supporters who view it as a critical step towards promoting Oklahoma's film industry. Proponents argue that such incentives can lead to job creation and economic rejuvenation in the arts sector. Conversely, there may be some skepticism about long-term funding sustainability or the effectiveness of similar incentives in achieving economic goals, indicating a level of contention regarding the potential return on investment.

Contention

One point of contention surrounding HB3964 could be its funding mechanisms, specifically how the revolving fund is to be sustained over time and whether there are adequate checks and reports to ensure transparency in how the funds are utilized. Another aspect involves the eligibility criteria for productions seeking rebates, and whether the requirements might be too burdensome for smaller production companies. These concerns highlight the need for balancing support for the film industry while maintaining accountability and ensuring fair accessibility to the incentives offered under the bill.

Companion Bills

No companion bills found.

Previously Filed As

OK HB1777

Court funds; court clerk's revolving fund; deleting fee amount; eliminating reference to District Court Revolving Fund; effective date; emergency.

OK HB2459

Revenue and taxation; Filmed in Oklahoma Act of 2021; modifying incentive related to certain post production activity; logo; effective date; emergency.

OK SB18

Medical marijuana; modifying the Oklahoma Medical Marijuana Authority Revolving Fund: limiting funding source; creating the Medical Marijuana Tax Fund. Effective date. Emergency.

OK HB2176

Oklahoma Accelerator Program; revolving fund; effective date; emergency.

OK HB1362

Revenue and taxation; incentive payments; production expenditure amounts; effective date; emergency.

OK SB758

Medical marijuana; deleting certain apportionments; creating revolving funds; requiring legislative apportionment. Effective date. Emergency.

OK SB22

Oklahoma Historical Society; creating the Oklahoma Museum of Popular Culture Supplemental Revolving Fund; stating source of funds. Emergency.

OK HB1031

Rural housing; creating the Oklahoma Housing Stability Program; creating various programs and revolving funds; effective date; emergency.

OK HB2863

Veterinary medicine; Oklahoma State University Veterinary Medicine Authority (OSUVMA); creation; revolving funds; bonds; effective date; emergency.

OK HB2457

Workforce development; Oklahoma NextGen Employee Development Program; findings; definitions; Department of Commerce; Oklahoma Tax Commission; workforce training; payments; wages; NextGen Employee Development Program Revolving Fund; effective date; emergency.