Oklahoma 2022 Regular Session

Oklahoma Senate Bill SB1319

Introduced
2/7/22  
Refer
2/8/22  

Caption

Local Development Act; requiring certain approval for plan or project. Effective date.

Impact

The amendments introduced by SB1319 are expected to significantly impact local laws governing development projects and funding in Oklahoma. By formalizing the requirement for review committees, the legislation enhances the scrutiny of development plans, which may lead to more careful consideration of how projects affect local communities and economies. Additionally, by providing a clearer pathway for local governments to grant tax incentives based on specific criteria, it aims to stimulate economic activity in targeted areas, enhancing growth opportunities in communities that require revitalization.

Summary

Senate Bill 1319 proposes amendments to the Local Development Act in Oklahoma, establishing a structured process for approving local development projects, including the granting of incentives and tax exemptions. This bill extends the powers of local governments to encourage development in blighted or underdeveloped areas by appointing review committees that assess project plans and make recommendations. The changes aim to streamline local development initiatives by ensuring that projects align with broader community goals while also allowing for local input and transparency in decision-making.

Sentiment

Sentiment regarding SB1319 appears to be cautiously optimistic among proponents, who view the bill as a necessary tool to empower local governments in their efforts to promote redevelopment. Nevertheless, there are concerns raised by some advocacy groups that the provisions for tax incentives could lead to potential mismanagement or unequal development benefits, particularly if not closely monitored. Overall, the general opinion reflects a balance between support for local development initiatives and the need for responsible oversight.

Contention

Notable points of contention during discussions of SB1319 center around the efficacy and criteria of the proposed review committees. Critics argue that while the intent to promote local development is sound, the potential for biased recommendations and the lack of stringent accountability mechanisms could diminish the bill’s effectiveness. The debate underscores a broader concern about how local development projects might prioritize certain interests over the community's long-term needs, highlighting the need for checks on the review process.

Companion Bills

No companion bills found.

Previously Filed As

OK HB1379

Public finance; Local Development Act; procedures; voter approval; effective date.

OK HB1379

Public finance; Local Development Act; procedures; voter approval; effective date.

OK HB3118

Public finance; Local Development Act; blight; approval process; conflict of interest; review committees; effective date.

OK SB500

Local Development Act; requiring report for tax increment financing. Effective date.

OK HB1069

Public finance; Local Development Act; definitions; procedures; review committees; impact statement; effective date.

OK SB1586

Municipalities; requiring certain building plans to be approved. Effective date.

OK SB914

Water and water rights; creating the Oklahoma Regional Water District Act; requiring development and coordination of certain districts for promulgation of regional water plans. Effective date.

OK HB2466

Public Finance; modifying Local Development Act purpose and guidelines; effective date.

OK HB2264

Oklahoma Turnpike Authority; requiring Authority to conduct certain studies; requiring Authority to obtain certain approvals; effective date.

OK HB2264

Oklahoma Turnpike Authority; requiring Authority to conduct certain studies; requiring Authority to obtain certain approvals; effective date.

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