SB 750 Summary

• Amends sales tax collection agreements between Oklahoma Tax Commission and municipalities, clarifying that municipalities may refrain from tax assessment and collection activities when contracted with the Tax Commission.

• Authorizes municipalities to conduct compliance activities directly or through private contractors to augment tax collection, with all contracts and private persons/entities subject to Tax Commission approval.

• Creates the "Tax Commission Compliance Fund" as a revolving fund in the State Treasury to consist of the first three-fourths of one percent (3/4 of 1%) of enhanced collections of state sales and use taxes for reimbursing municipalities.

• Requires the Director of the Office of State Finance to form an Implementation Working Group by September 30, 2011, to develop a plan ensuring the Tax Commission maintains centralized administration and enforcement consistent with state law.

• Becomes effective September 1, 2011.