HB 2711 Summary

• Extends the Oklahoma Quality Events Incentive Act through June 30, 2018 (previously set to expire June 30, 2015).

• Modifies definitions and requirements for "incremental sales tax revenue" and "state sales tax revenue" to be determined through economic impact studies verified by the Oklahoma Tax Commission rather than direct vendor remittance calculations.

• Removes the geographic "quality event area" designation requirement and replaces it with host community designation of event dates and eligible expense types.

• Changes the Tax Commission's role from determining revenue within 90 days to requiring host communities to provide post-event information (attendance, financial data) for economic impact evaluation.

• Maintains the $250,000 per-event payment cap and increases overall annual payment limits to $3,000,000 for fiscal years 2015-2018.