On May 14, 2025, OKL LEG reported SB 573 became law without governor's signature.
On May 7, OKL LEG passed bill requiring disclosures for businesses.
OKL LEG passed SB 573 to require small business tenant claiming incubator tax credit to submit annual form to Department of Commerce to continue qualifying for credit.
Amends Oklahoma statutesOKL LEG 74-5078 (state income tax exemption for tenant), to require form to include employment levels, interns, payments, revenues.
Also must include payments to subcontractors, gross annual revenues, annual costs for property and services, taxable income, as well as any additional financial assistance.
Legislative History
On Feb. 3, 2025, bill introduced in Senate; on Mar. 12, 2025, bill passed in Senate.
On Mar. 13, 2025, bill delivered to House; on May 6, 2025, bill was passed in House.
On May 7, 2025, bill was enrolled and sent to the governor, pending governor action.
Effectiveness
The act will become effective Nov. 1, 2025.
May 14, 2025 OKL LEG Law Without Signature
On May 14, 2025, OKL LEG reported SB 573 became law without governor's signature.
Regulators
OKL LEG
Entity Types
CNSM; Corp
Reference
Act, 5/14/2025; Bill SB573, 5/7/2025; Citation: OKL LEG 74-5078;
