Okla. Stat. tit. 62, § 62-867.1
This is the official text of Okla. Stat. tit. 62, § 62-867.1, 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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Incentive or increment district creation – Dissolution –
Official statutory text
Annual revenue loss.
A. Within thirty (30) days after the creation of either an
incentive district or an increment district, the sponsoring
governmental entity shall notify the Oklahoma Tax Commission, upon
such form as the Commission shall prescribe, of the geographic area
where the district is located, a description of any locally
authorized tax incentives, such as property tax exemptions, sales
tax exemptions or for purposes of an increment district, whether
there is or will be indebtedness incurred the repayment of which
will partially or entirely be paid from incremental tax revenues
apportioned for such purpose.
B. If an incentive district or increment district is dissolved
or for any reason ceases to be operative, the sponsoring entity
shall notify the Oklahoma Tax Commission within thirty (30) days of
such dissolution or termination upon a form to be prescribed by the
Commission for such purpose.
C. The Oklahoma Tax Commission, in conjunction with the
Oklahoma Department of Commerce, shall make an estimate of the
annual revenue loss resulting from all matching payments to be made
pursuant to Section 844 of Title 62 of the Oklahoma Statutes.
Oklahoma Statutes - Title 62. Public Finance Page 567
A. Within thirty (30) days after the creation of either an
incentive district or an increment district, the sponsoring
governmental entity shall notify the Oklahoma Tax Commission, upon
such form as the Commission shall prescribe, of the geographic area
where the district is located, a description of any locally
authorized tax incentives, such as property tax exemptions, sales
tax exemptions or for purposes of an increment district, whether
there is or will be indebtedness incurred the repayment of which
will partially or entirely be paid from incremental tax revenues
apportioned for such purpose.
B. If an incentive district or increment district is dissolved
or for any reason ceases to be operative, the sponsoring entity
shall notify the Oklahoma Tax Commission within thirty (30) days of
such dissolution or termination upon a form to be prescribed by the
Commission for such purpose.
C. The Oklahoma Tax Commission, in conjunction with the
Oklahoma Department of Commerce, shall make an estimate of the
annual revenue loss resulting from all matching payments to be made
pursuant to Section 844 of Title 62 of the Oklahoma Statutes.
Oklahoma Statutes - Title 62. Public Finance Page 567
Status: in_force · Read it on the official government site
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