OK HB1786

Amends 62 O.S. 2001, Section 841 regarding the Oklahoma Local Development and Enterprise Zone Incentive Leverage Act by modifying definitions used in economic development incentive programs

Adds "military growth impacts" definition as increases in investment, employment, and residents from federal military base activities, and defines "military growth impact community" and "military growth impact project" to support quality of life needs from such growth

Modifies "estimated direct state benefits" and "estimated direct state costs" definitions to include military growth impacts in lieu of project-specific data for military growth impact projects

Adds military growth impact projects and their communities as exclusions from the definition of "retail purposes," allowing them eligibility for certain development incentives similar to tourism destination projects

Declares an emergency, making the act effective immediately upon passage and approval