OK HB3841

Amends Oklahoma's Local Development Act to require voter approval by majority vote in the applicable jurisdiction (city, town, or county) for creation of incentive or increment districts, replacing the previous governing body supermajority override provision

Requires each local taxing jurisdiction to separately approve participation in an increment district; jurisdictions that do not approve will not have their tax revenues apportioned to the district

Removes confidentiality protections for marketing plans, financial statements, trade secrets, and proprietary information submitted to review committees by entities seeking district approval

Establishes new ethics and training requirements for review committee members, including prohibition on accepting anything of value from benefiting entities, mandatory 12 hours of instruction on the Local Development Act, and annual meeting requirements

Requires review committees to obtain independent legal and financial opinions, hear both supporting and opposing presentations, prepare economic impact studies, and collect disclosure information from benefiting businesses including ESG and DEI policy adoption before making recommendations