Oklahoma § 62-865 - Agreement between other local taxing entity and governing

§ 62-865. Agreement between other local taxing entity and governing

body.

A. In accordance with the requirements of Section 6C of Article

X of the Oklahoma Constitution, the tax incentives or exemptions

granted pursuant to the provisions of Section 860 of this title

shall only be allowed for that portion of the tax under jurisdiction

of another local taxing entity by written agreement between said

other local taxing entity and the governing body of the city, town

or county.

B. In order for the tax incentives or exemptions to be granted

for that portion of the tax under the jurisdiction of each taxing

entity within the district, the governing body of the taxing entity

must adopt the agreement provided for in subsection A of this

section upon a majority vote of those members eligible to vote as

determined by Section 857 of this title. Action on the agreement by

Oklahoma Statutes - Title 62. Public Finance

these governing bodies must occur within sixty (60) days after the

governing body of the city, town or county submits the proposed

agreement to the governing bodies of such taxing entities.

Added by Laws 1992, c. 342, § 16. Amended by Laws 2000, c. 351, §

6, emerg. eff. June 6, 2000.