Old	New	Differences
1	1
2	2
3	3	Req. No. 6610 Page 1 1
4	4	2
5	5	3
6	6	4
7	7	5
8	8	6
9	9	7
10	10	8
11	11	9
12	12	10
13	13	11
14	14	12
15	15	13
16	16	14
17	17	15
18	18	16
19	19	17
20	20	18
21	21	19
22	22	20
23	23	21
24	24	22
25	25	23
26	26	24
27	27
28	28	STATE OF OKLAHOMA
29	29
30	30	1st Session of the 58th Legislature (2021)
31	31
32	32	HOUSE BILL 2466 By: Lowe (Dick)
33	33
34	34
35	35
36	36
37	37
38	38	AS INTRODUCED
39	39
40	40	An Act relating to public finance; amending 62 O.S.
41	41	2011, Sections 851, 852 and 865, which relate to the
42	42	Local Development Act; modi fying purpose and
43	43	guidelines; requiring certain written agreements
44	44	under specified circumstance; requiring adoption of
45	45	certain agreement by governing body under specified
46	46	circumstance; and providing an effective date.
47	47
48	48
49	49
50	50
51	51
52	52	BE IT ENACTED BY THE PEOP LE OF THE STATE OF OKLAHOMA:
53	53	SECTION 1. AMENDATORY 62 O.S. 2011, Section 851, is
54	54	amended to read as follows:
55	55	Section 851. The Local Development Act shall serve to implement
56	56	and execute Section 6C of Article X of the Oklahoma Cons titution as
57	57	approved by the voters of the State of Oklahoma on November 6, 1990,
58	58	by:
59	59	1. Providing for the granting of incentives and exemptions from
60	60	taxation within certain areas, placing restrictions thereon, and
61	61	limiting the time period for the exemptio ns, as authorized by
62	62	subsection A thereof;
63	63
64	64	Req. No. 6610 Page 2 1
65	65	2
66	66	3
67	67	4
68	68	5
69	69	6
70	70	7
71	71	8
72	72	9
73	73	10
74	74	11
75	75	12
76	76	13
77	77	14
78	78	15
79	79	16
80	80	17
81	81	18
82	82	19
83	83	20
84	84	21
85	85	22
86	86	23
87	87	24
88	88
89	89	2. Providing for apportionment of an increment of local taxes
90	90	and fees, placing restrictions thereon, and limiting the time period
91	91	for the apportionment, as authorized by subsection B thereof; and
92	92	3. Providing for the planning, financing, and carrying out of
93	93	development and redevelopment within certain areas, as authorized by
94	94	subsection C thereof.
95	95	Nothing in the Local Development Act shall be construed in a
96	96	manner contrary to or inconsistent with the provisions o f said
97	97	constitutional provision.
98	98	The Legislature hereby finds that historic preservation,
99	99	reinvestment or enterprise areas as defined under this act are may
100	100	be unproductive, undeveloped, underdeveloped or blighted areas
101	101	pursuant to subsection C of Section 6 of Article X of the Oklahoma
102	102	Constitution.
103	103	SECTION 2. AMENDATORY 62 O.S. 2011, Section 852, is
104	104	amended to read as follows:
105	105	Section 852. It is the intent of the Legislature that the
106	106	provisions of this act be used in accordance w ith the following
107	107	guidelines:
108	108	1. That the tools of this act be used in those cases where
109	109	investment, development and economic growth is difficult, but is
110	110	possible if the provisions of this act are available;
111	111	2. That the tools of this act not be used in a reas where
112	112	investment, development and economic growth is occurring at a rate
113	113
114	114	Req. No. 6610 Page 3 1
115	115	2
116	116	3
117	117	4
118	118	5
119	119	6
120	120	7
121	121	8
122	122	9
123	123	10
124	124	11
125	125	12
126	126	13
127	127	14
128	128	15
129	129	16
130	130	17
131	131	18
132	132	19
133	133	20
134	134	21
135	135	22
136	136	23
137	137	24
138	138
139	139	consistent with, or greater than, the governing body's jurisdiction
140	140	as a whole or would have occurred anyway and that the governing body
141	141	take care to exclude areas that do not me et this criteria;
142	142	3. That the tools of this act be used to supplement and not
143	143	supplant or replace normal public functions and services;
144	144	4. That the tools of this act work in conjunction with existing
145	145	programs and efforts such as the Oklahoma Main Street Program,
146	146	Oklahoma Enterprise Zone Act, historic preservation and other
147	147	locally implemented economic development efforts;
148	148	5. That any proposed districts be delineated with particular
149	149	emphasis not to have boundaries that dissect a similar area or
150	150	create unfair competitive advantage;
151	151	6. That the governing body recognizes the need for residential
152	152	and neighborhood treatment, capital improvements to neighborhood
153	153	public schools, as well as commercial/industrial development;
154	154	7. That where possible partial credit s or credits that do not
155	155	utilize the full time frame allowed be pursued;
156	156	8. That maximum effort be made to allow full public knowledge
157	157	and participation in the local use of this act;
158	158	9. That conservation, preservation and rehabilitation be
159	159	emphasized while demolition, clearance and relocation be minimized
160	160	where possible; and
161	161	10. That the governing bodies develop and apply clear
162	162	standards, criteria and threshold limits that are applicable to all
163	163
164	164	Req. No. 6610 Page 4 1
165	165	2
166	166	3
167	167	4
168	168	5
169	169	6
170	170	7
171	171	8
172	172	9
173	173	10
174	174	11
175	175	12
176	176	13
177	177	14
178	178	15
179	179	16
180	180	17
181	181	18
182	182	19
183	183	20
184	184	21
185	185	22
186	186	23
187	187	24
188	188
189	189	similar property and areas and that the governing bodies ena ct
190	190	protection against nearby relocations to utilize incentives.
191	191	SECTION 3. AMENDATORY 62 O.S. 2011, Section 865, is
192	192	amended to read as follows:
193	193	Section 865. A. In accordance with the requirements of Section
194	194	6C of Article X of th e Oklahoma Constitution, the tax incentives or
195	195	exemptions granted pursuant to the provisions of Section 860 of this
196	196	title shall only be allowed for that portion of the tax under
197	197	jurisdiction of another local taxing entity by written agreement
198	198	between said other local taxing entity and the governing body of the
199	199	city, town or county.
200	200	B. Tax increments as described under Section 850 et seq. of
201	201	this title shall only be allowed for that portion of the tax under
202	202	jurisdiction of another local taxing entity by wri tten agreement
203	203	between the other local taxing entity and the governing body of the
204	204	city, town or county.
205	205	C. In order for the tax incentives or, exemptions or increments
206	206	to be granted for that portion of the tax under the jurisdiction of
207	207	each taxing entity within the district, the governing body of the
208	208	taxing entity must adopt the agreement provided for in subsection A
209	209	or B of this section upon a majority vote of those members eligible
210	210	to vote as determined by Section 857 of this title. Action on the
211	211	agreement by these governing bodies must occur within sixty (60)
212	212	days after the governing body of the city, town or county submits
213	213
214	214	Req. No. 6610 Page 5 1
215	215	2
216	216	3
217	217	4
218	218	5
219	219	6
220	220	7
221	221	8
222	222	9
223	223	10
224	224	11
225	225	12
226	226	13
227	227	14
228	228	15
229	229	16
230	230	17
231	231	18
232	232	19
233	233	20
234	234	21
235	235	22
236	236	23
237	237	24
238	238
239	239	the proposed agreement to the governing bodies of such taxing
240	240	entities.
241	241	SECTION 4. This act shall become effectiv e November 1, 2021.
242	242
243	243	58-1-6610 AMM 01/06/21
244	244

Oklahoma 2022 Regular Session

Oklahoma House Bill HB2466 Compare Versions