Senate lawmakers on Monday advanced legislation to create an account that could help pay for the cost of hosting the 2028 Summer Olympics.
Senate Bill 1378 does not appropriate any funding, but the measure’s author, Sen. Kristen Thompson, R-Edmond, said an estimated $100 million will be needed from public and private sources, including federal, state and local dollars.
Oklahoma City is set to host the canoe slalom and softball competitions for the 2028 Olympics. The bulk of the competition will be held in Los Angeles.
While existing venues will be used for the Oklahoma City events, Thompson said the funds from the account would be used for infrastructure, warehouse and transportation needs, as well as an athletic village.
The state is anticipating over 500,000 visitors during the Olympic events and hotels hours from Oklahoma City are expected to be sold out, she said.
“This is quite literally a once-in-a-lifetime opportunity, and we should all be very, very excited about the impact this is going to have on every Oklahoma community,” Thompson said.
The Olympics in Oklahoma Revolving Fund would be created for the state Department of Commerce. At least 5% of funds dispersed must be for contracts with Oklahoma-based businesses, according to the bill.
Thompson said this fund is being created in partnership with Oklahoma City.
Canoe slalom will be held at Riversport, which is an official U.S. Olympic & Paralympic Training Site.
Softball events will be hosted at Devon Park, which has four fields and annually hosts the NCAA Women’s College World Series.
The bill heads to the House after a unanimous Senate vote.
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