Okla. Stat. tit. 62, § 62-851
This is the official text of Okla. Stat. tit. 62, § 62-851, part of Oklahoma’s Stat. tit. 62, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 62,." Browse the sections below, each linked to its official government source.
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Purpose of act
Official statutory text
The Local Development Act shall serve to implement and execute
Section 6C of Article X of the Oklahoma Constitution as approved by
the voters of the State of Oklahoma on November 6, 1990, by:
1. Providing for the granting of incentives and exemptions from
taxation within certain areas, placing restrictions thereon, and
limiting the time period for the exemptions, as authorized by
subsection A thereof;
2. Providing for apportionment of an increment of local taxes
and fees, placing restrictions thereon, and limiting the time period
for the apportionment, as authorized by subsection B thereof; and
Oklahoma Statutes - Title 62. Public Finance Page 539
3. Providing for the planning, financing, and carrying out of
development and redevelopment within certain areas, as authorized by
subsection C thereof.
Nothing in the Local Development Act shall be construed in a
manner contrary to or inconsistent with the provisions of said
constitutional provision.
The Legislature hereby finds that historic preservation,
reinvestment or enterprise areas as defined under this act are
unproductive, undeveloped, underdeveloped or blighted areas pursuant
to subsection C of Section 6 of Article X of the Oklahoma
Constitution.
Section 6C of Article X of the Oklahoma Constitution as approved by
the voters of the State of Oklahoma on November 6, 1990, by:
1. Providing for the granting of incentives and exemptions from
taxation within certain areas, placing restrictions thereon, and
limiting the time period for the exemptions, as authorized by
subsection A thereof;
2. Providing for apportionment of an increment of local taxes
and fees, placing restrictions thereon, and limiting the time period
for the apportionment, as authorized by subsection B thereof; and
Oklahoma Statutes - Title 62. Public Finance Page 539
3. Providing for the planning, financing, and carrying out of
development and redevelopment within certain areas, as authorized by
subsection C thereof.
Nothing in the Local Development Act shall be construed in a
manner contrary to or inconsistent with the provisions of said
constitutional provision.
The Legislature hereby finds that historic preservation,
reinvestment or enterprise areas as defined under this act are
unproductive, undeveloped, underdeveloped or blighted areas pursuant
to subsection C of Section 6 of Article X of the Oklahoma
Constitution.
Status: in_force · Read it on the official government site
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