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SENATE FLOOR VERSION
February 27, 2023
SENATE BILL NO. 746 By: Coleman of the Senate
and
Hilbert of the House
[ sales tax incentives - quality event - effective
date ]
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKL AHOMA:
SECTION 1. AMENDATORY 68 O.S. 20 21, Section 4303, is
amended to read as follows:
Section 4303. As used in the Oklahoma Quality Events Incentive
Act:
1. “Certified sponsor” means an entity or organization
authorized to promote and conduct a quality event, which is
incurring expenses for the promotion of such event to be cond ucted
within the corporate limits of an eligible municipality or an
unincorporated area within a county;
2. “Economic impact study ” means a study which includes:
a. a description and, if applicable, history of the
quality event,
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b. information regarding t he site selection process for
the quality event,
c. an estimate of the expenses anticipated to be incurred
in connection with hosting the quality event,
d. an estimate of the total gross sales made by vendors
during any period of time during which no quali ty
event activity occurs,
e. a detailed estimate of the anticipated increase in
sales tax revenue directly attributable to the quality
event, and
f. the general economic impact likely to occur as a
result of the preparation for, occurrence of and
activity occurring in connection with the dissolution
of, a quality event;
3. “Eligible local support amounts ” means:
a. any payment made by a local government entity or
transfer of monies from the general fund or transfer
of tax revenues derived from a locally im posed tax to
a certified sponsor for the purpose of attracting,
promoting, advertising, organizing, conducting , or
otherwise supporting a quality event, or
b. any direct payment made by a certified sponsor to a
for-profit or nonprofit entity, other than the host
community, for the purpose of attracting, promoting,
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advertising, organizing, conducting , or otherwise
supporting a quality event;
4. “Event history” means:
a. historical information on the event including pas t
locations of the event,
b. a description of previous attempts by the host
community to secure the event,
c. information regarding attempts by other communities to
recruit the event, and
d. if applicable, the competitive bidding process for
securing the event by the host community;
5. “Host community” means any county, incorporated city or
town, or any combination of counties, incorporated cities or towns
of the state which are authorized by their respective governing
bodies to host or assist in the prese ntation of a quality event;
6. “Incremental sales tax revenue ” means the amount of
additional state sales tax revenue collected as a result of the
quality event, as determined by an economic impact study verified by
the Oklahoma Tax Commission;
7. “New event” means a quality event which did not occur within
a period of twenty-four (24) months prior to the month during which
a quality event is held;
8. “Quality event” means:
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a. a new event or a meeting of a nationally recognized
organization or its member s,
b. a new or existing event that is a n ational,
international or world championship, or
c. a new or existing event that is managed or produced by
an Oklahoma-based national or international
organization,
d. for counties with a population of less than one
hundred thousand (100,000) persons, or a city with
less than ten thousand (10,000) people in a county
with more than one hundred thousand (100,000) persons
according to the latest Federal De cennial Census, no
more than one new or existing event designated by the
county or city per calendar year. Provided, at least
twenty-five percent (25%) of attendees of the
designated event shall be comprised of residents from
outside this state, or
e. for a combination of at least two (2) counties, towns,
cities, or municipalities along the route of or
containing within its boundaries, a National Scenic
Byway or State Scenic Byway, designat ed pursuant to
the National Scenic Byways Program , pursuant to 23
U.S.C., Section 162, one driving related event per
calendar year;
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9. “Recurring event” means a quality event which occurred at
least once within the twenty -four (24) months prior to the month
during which a quality event is held;
10. “State sales tax reve nue” means the proceeds from the state
sales tax levy imposed pur suant to Section 1354 of this title upon
taxable transactions occurring as a result of the quality event, as
determined by an economic impact study verified by the Oklahoma Tax
Commission; and
11. “Vendors” means those persons or business entities making
taxable sales of tangible personal property or services as a result
of the quality event, a s determined by an economic impact study
verified by the Oklahoma Tax Commission and, unless the con text
otherwise requires, shall have the same meaning as defined b y
Section 1352 of this title.
SECTION 2. This act shall become effective November 1, 2023.
COMMITTEE REPORT BY: COMMITTEE ON FINANCE
February 27, 2023 - DO PASS