OK HB1989

Creates the Arkansas River Development Authority as a state agency to promote economic opportunities and improve quality of life for communities along the Arkansas River.

Establishes a body corporate with appointed members who must be Oklahoma residents and qualified electors, with authority to sue and be sued, acquire property, and enter contracts.

Authority members receive no compensation but are reimbursed for travel expenses under the State Travel Reimbursement Act and may establish subcommittees with up to five members.

Grants the Authority powers including adopting bylaws, acquiring real and personal property, making contracts, and establishing principal office in Tulsa County; subject to Oklahoma Open Meeting and Open Records Acts.

Authority is exempt from state and local taxes on projects and property; becomes effective July 1, 2011, with emergency clause allowing immediate effect upon passage and approval.