SB 976 Summary

• Amends the Oklahoma Quality Events Incentive Act by modifying definitions and procedures related to sales tax revenue capture for quality events in designated areas.

• Adds new definition of "Event history" requiring documentation of past event locations, previous host community recruitment attempts, competitive bidding processes, and information about other communities' recruitment efforts.

• Broadens the definition of "quality event" to include new or existing events that are national, international, or world championships, or managed by Oklahoma-based national or international organizations, removing previous requirement for competitive site selection with out-of-state consideration.

• Reduces the advance notice period for host communities to designate quality event areas from one year to six months prior to the initial event date.

• Reduces the filing deadline for economic impact studies and event history from 90 days to 30 days after adopting an ordinance, and extends Oklahoma Tax Commission review period from 90 days to 60 days.