OK HB3127

Amends the Local Development Act reporting requirements for increment districts and incentive districts that have been in operation for nine or more months

Requires governing bodies to submit annual reports to taxing entity chief executives within 90 days of fiscal year end, including financial information on revenue captured, expenditures, bonded debt, and tax increment details

Mandates reports be filed with the Oklahoma Tax Commission and Oklahoma Department of Commerce, with supplements to be compiled into an annual report submitted to the Governor and legislative leaders by October 1

Requires publication of summary financial information in local newspapers and maintains current disclosure requirements for interested parties

Effective date: November 1, 2010