S.B. 1935, which Sen. Karin Housley, R-Stillwater, introduced Wednesday, would provide tax relief to entertainment venues that derived at least 33% of 2019 income from ticket sales and live events, have 60 or fewer full-time employees and have not been able to operate at over 25% capacity due to the pandemic.
The venues would be able to claim a property tax credit for an unspecified amount, according to the bill. Venues would also be exempt from sales tax on purchases of admission and would be eligible for a refund of sales tax paid in 2020.
The bill would also provide grants to eligible venues. Qualifying businesses would be eligible for grants of 25% of their gross revenue up to $500,000.
--Editing by Vincent Sherry.
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