Quality Jobs Expansion Passes Senate to Encourage NBA Relocation to Oklahoma

Legislation to tweak the Quality Jobs Act to encourage the National Basketball Association to move a professional basketball team to Oklahoma passed the State Senate today. The bill now goes to the House of Representatives for final consideration before going to Gov. Brad Henry.

Senate Bill 1819, by Senate Co-President Pro Tempore Glenn Coffee and House Speaker Chris Benge, allows an NBA franchise to participate in the state’s Quality Jobs Program, which rebates a portion of employees’ income taxes to the state to qualified employers.

“If a NBA franchise comes here it will be a slam dunk for Oklahoma, like getting a major corporation to locate its headquarters here. If a NBA team relocates to Oklahoma, we will be one of only 22 states with a team. It will help raise Oklahoma’s profile nationally and across the world,” stated Coffee, R-Oklahoma City.

“This legislation paves the way for the NBA to come to Oklahoma. The state budget won’t be impacted because the rebates provided for in this bill would come from funds that the state won’t receive at all if the NBA doesn’t locate a team here,” said Coffee.

The incentive would last 15 years and would provide rebates of about $60 million in tax rebates to an NBA team. The funds would be used to help offset an NBA team’s relocation fees and expenses.