Okla. Stat. tit. 68, § 68-1370.2

tax - Use of proceeds - Aircraft maintenance or manufacturing

facilities - Approval by voters - Time period.

Notwithstanding the provisions of Section 1370 of this title and

in accordance with the provisions of Section 1 of this act, any

county of this state with a population of more than three hundred

thousand (300,000) according to the latest Federal Decennial Census

may levy a sales tax of not to exceed one percent (1%) upon the

gross proceeds or gross receipts derived from all sales or services

in the county upon which a consumer's sales tax is levied by the

state, except as provided in paragraph 8 of Section 1357 of this

title, subject to the following conditions:

1. The proceeds of such sales tax and the interest thereon

shall be used solely for the purpose of development of qualified

aircraft maintenance or manufacturing facilities and any necessary

infrastructure changes or airport improvements directly related to

such facilities located within the county to be owned by the county,

any municipality within the county or a public trust in which the

county or municipality is a beneficiary. However, such municipality

or public trust shall hold such title for the use and benefit of the

residents of the entire county in which the tax is levied and

collected. The acceptance by the municipality or public trust of

any title or tax proceeds shall be deemed an acceptance of this

requirement. The board of county commissioners of any county that

has approved the imposition of a sales tax pursuant to this section

may not commence the collection of any such sales tax until a

qualified aircraft maintenance or manufacturing facility has signed

an agreement to locate such facility within the county. As used in

this paragraph, "qualified aircraft maintenance or manufacturing

facility" means a new or expanding facility primarily engaged in

aircraft repair, building or rebuilding, whether or not on a factory

basis, whose total cost of construction exceeds the sum of One

Oklahoma Statutes - Title 68. Revenue and Taxation Page 628

Hundred Fifty Million Dollars ($150,000,000.00) and which employs at

least one thousand (1,000) new full-time-equivalent employees, as

certified by the Employment Security Commission upon completion of

the facility;

2. Before a sales tax may be levied by the county, the

imposition of the tax shall first be approved by a majority of the

registered voters of the county voting thereon at a special election

called by resolution of the board of county commissioners;

3. The monies collected pursuant to the provisions of this

section shall only be expended by the board of county commissioners

to finance an amount not to exceed twenty-five percent (25%) of the

total cost of construction of the qualified aircraft maintenance or

manufacturing facility and any necessary infrastructure changes or

airport improvements directly related to such facility; and

4. Such sales tax can only be imposed for a period not to

exceed three (3) years.