SB1722 Summary

• Modifies the Oklahoma Quality Events Incentive Act by updating definitions of "incremental sales tax revenue," "state sales tax revenue," and "vendors" to require verification by an economic impact study rather than relying solely on designated geographic areas and revenue capture periods.

• Removes the requirement that host communities designate a "quality event area" and "revenue capture period" as separate designations, instead requiring only designation of event dates and eligible expense types.

• Eliminates the "Quality event area" definition that previously limited designated areas to 13 miles from the primary event property, and removes the "Revenue capture period" definition.

• Requires host communities to provide detailed information about eligible local support amounts and event-related data (attendance, financial information) to the Oklahoma Tax Commission for verification before payments are distributed.

• Changes the Tax Commission's determination process to be based on analysis of an approved economic impact study rather than within a fixed 90-day timeframe after the event concludes, with an effective date of November 1, 2014.