Senate committee votes to remove sunset on enterprise‑zone incentive statute to attract long‑term projects

Senator Reinhardt introduced Senate Bill 1826, which would remove the statutory sunset for the Oklahoma Local Development and Enterprise Zone Incentive Leverage Act. "By doing this, it sends a clear message to businesses seeking to develop or expand here in Oklahoma that we are invested in long‑term growth," Reinhardt said, arguing that many projects require 20 to 25 years of investment and that a sunset can discourage long‑term commitments.

Reinhardt cited successful projects that used the incentive framework and said developers report to the Department of Commerce and that those reports are furnished to the House and Senate. He told the committee the maximum reimbursement for projects under the program is $200,000, which he said prevents large annual fiscal exposures.

Members asked how continued oversight would function and whether the Incentive Evaluation Commission regularly reviews the incentive. Reinhardt confirmed the Incentive Evaluation Commission examines the incentive and said annual reports are among the guardrails keeping the program under review.

After debate, the committee recorded 7 ayes and 1 nay and the bill was declared passed.