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OK SB537
Bill
Status
2/4/2013
Primary Sponsor
Patrick Anderson
Click for details
AI Summary
SB 537 Summary
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Creates the Midsize City Infrastructure Commission within the Oklahoma Development Finance Authority with five members appointed by the Governor, President Pro Tempore of the Senate, and Speaker of the House representing municipalities under 125,000 population
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Commission members serve staggered terms of 2-4 years, biannually elect a chair with no consecutive term limits, hold quarterly meetings, and are subject to Open Meetings and Open Records Acts
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Commission has authority to review infrastructure project applications from eligible municipalities and either reject them or forward to Oklahoma Development Finance Authority for independent review within 90 days
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Directs ODFA to develop application procedures for municipalities under 125,000 population and provide staff support to the Commission
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Amends 68 O.S. Section 1353 to direct one-quarter of one percent (0.0025%) of sales tax revenues from eligible municipalities beginning FY 2015 to the Oklahoma Midsize City Infrastructure Financing Fund
Legislative Description
Public finance; creating the Midsize City Infrastructure Commission; requiring repayment of obligations from sales tax. Conditional effective date.
Revenue and Taxation
Last Action
coauthored by Williams (principal House author)
2/12/2013