Oklahoma § 68-4305 - Eligible local support

§ 68-4305. Eligible local support

A. The host community shall provide to the Oklahoma Tax

Commission detailed information disclosing the total amount of

eligible local support amounts for purposes of determining the

amount of incremental state sales tax revenue that may be paid to a

host community in which a quality event occurs.

B. The Tax Commission shall verify the amount of eligible local

support amounts prior to making any payment to a host community.

C. After the conclusion of an event, the host community shall

provide information related to the event, such as attendance

figures, financial information or other public information held by

the host community that the Tax Commission considers necessary to

evaluate the actual economic impact of the event.

Oklahoma Statutes - Title 68. Revenue and Taxation

D. The Tax Commission shall compare the total amount of

eligible local support amounts with the total amount of incremental

state sales tax revenues remitted by vendors, such revenues to be

established through the economic impact study.

E. If the Tax Commission determines through an analysis of the

economic impact study that the total amount of incremental state

sales tax revenues is zero, no payment shall be made to a host

community.

F. If the Tax Commission determines through an analysis of the

economic impact study that the total amount of incremental state

sales tax revenues is greater than zero, but less than the total

amount of eligible local support amounts, the Tax Commission shall

make payment, subject to the limitations of subsection I of this

section, to the host community of the quality event in an amount

equal to the incremental state sales tax revenues.

G. If the Tax Commission determines through an analysis of the

economic impact study that the total amount of incremental state

sales tax revenues is at least equal to the amount of eligible local

support amounts, the Tax Commission shall make payment, subject to

the limitations of subsection I of this section, to the host

community in which the quality event occurs in an amount equal to,

but not greater than, the eligible local support amounts.

H. No payment shall be made to any host community from a source

other than the incremental state sales tax revenues, if any, derived

from state sales tax remittances of vendors as a result of the

quality event, as determined by an economic impact study verified by

the Oklahoma Tax Commission.

I. No payment shall be made to any host community in excess of

Two Hundred Fifty Thousand Dollars ($250,000.00) for a single

quality event regardless of the amount of eligible local support

paid by the host community.

Added by Laws 2010, c. 386, § 5, eff. July 1, 2012. Amended by Laws

2014, c. 3, § 4, eff. Nov. 1, 2014; Laws 2018, c. 201, § 4, eff.

July 1, 2018; Laws 2021, c. 30, § 4, emerg. eff. April 19, 2021.