OK SB1858

Public entities may enter into taxpayer agreements with property owners or developers within increment districts to guarantee bond repayment, provide payments in lieu of tax increment revenues, or support project financing

Taxpayer agreements can create liens on real property that take effect automatically upon execution and have parity with tax liens, taking priority over mortgages, judgments, and other encumbrances except previously filed tax liens

Delinquent payments under taxpayer agreements may be collected and enforced in the same manner as delinquent ad valorem taxes, including applicable interest, penalties, fees, and collection costs

Bonds secured by taxpayer agreements do not constitute general obligations of the public entity or municipal debt for statutory/constitutional debt limitations; the public entity acts solely as a conduit issuer

Declared an emergency measure, taking effect immediately upon passage and approval