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OK SB13
Bill
AI Summary
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Amends 62 O.S. Section 853 to modify definitions under the Local Development Act, including clarifying that increment from sales taxes, local taxes, or fees may be collected "regardless of taxable location or recipient local public taxing entity"
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Modifies 62 O.S. Section 856 to allow cities, towns, or counties to defer determination of district creation dates by up to 10 years after project plan approval and removes the requirement that jointly-created districts be contiguous
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Amends 61 O.S. Section 127 to expand the application of public contract requirements to public entities under the Local Industrial Development Act and Local Development Act, with exceptions for development financing assistance where public improvements do not exceed 25% of total estimated public and private investment
Legislative Description
Local Development Act; definitions; provisions related to certain ordinances or resolutions.
Revenue and Taxation
Last Action
Approved by Governor 05/26/2011
5/26/2011