Oklahomans can take advantage of their first true ‘Black Friday' sales this holiday season.
Governor Mary Fallin signed Senate Bill 550 into law during the 2013 legislative session. Under the new law, Oklahoma retailers will be allowed to sell general merchandise products at any price below their cost for up to 15 days in a row on a specific product and up to 10 times a year. However, groceries, drugs, gas and lumber are exempt.
"It means Oklahomans will enjoy the same low prices as consumers in 48 other states, and their hard-earned dollars will go farther this Christmas," said Sen. David Holt, R-Oklahoma City, who co-authored the bill with and Rep. Tom Newell, R-Seminole.
Under existing state law, retailers were not allowed to offer the same sale prices as in other states.
"The old law put Oklahoma stores at a competitive disadvantage with neighboring states where retailers can legally offer better deals," Holt said. "Some Oklahomans left the state to shop, but that was a hardship for them as well as our local retailers. "
But come November 1 when the SB 550 goes into effect, Holt says Oklahomans can stay home and take advantage of the same low prices that other Americans enjoy.