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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 68. REVENUE AND TAXATION

  § 68-4304. Quality event - Designation - Submission of forms to Oklahoma Tax Commission.  

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  • A.  Not later than six (6) months prior to the initial date of a quality event, a host community may designate:

    1.  A geographic area as a quality event area;

    2.  A length of time as the revenue capture period; and

    3.  The type of expenses eligible for distribution of captured revenues to the host community including, but not limited to, advertising, facility rental, promotional materials and security.

    B.  Any designation made by a host community for purposes of this act shall be made pursuant to an ordinance or resolution duly adopted by the governing body of the host community.

    C.  A host community may only designate one quality event during a single designated revenue capture period for purposes of the payments authorized by this act.

    D.  Within thirty (30) days of the date on which the host community adopts an ordinance or resolution pursuant to subsection A of this section, such host community shall submit to the Oklahoma Tax Commission, on such forms as the Tax Commission may prescribe, a copy of such ordinance or resolution , an economic impact study and the event history.

    E.  Within sixty (60) days from the date of receipt of the information from the host community as required by subsection D of this section, the Tax Commission shall approve or disapprove, in whole or in part, the economic impact study for the purposes of this act.  In making its determination, the Tax Commission shall consider whether or not the economic impact study contains the elements required in paragraph 2 of Section 4303 of this title and whether or not the information provided is validly documented and based on generally accepted economic and statistical standards used for purposes of similar studies.  The Oklahoma Department of Commerce and the Oklahoma Tourism and Recreation Department shall provide such assistance and information as requested by the Tax Commission to approve or disapprove an economic impact study.

Added by Laws 2010, c. 386, § 4, eff. July 1, 2012.  Amended by Laws 2013, c. 156, § 2.