HB3841

Oklahoma HB3841 amends the Local Development Act to modify definitions, procedures, and requirements for district, plan, and project approval.

Oklahoma HB3841 amends the Local Development Act by modifying definitions, procedures, and requirements for district, plan, and project approval. The bill introduces new definitions for terms such as "increment," "project plan," and "project area." It mandates that any income or revenues received by a city, town, or county related to a project plan can be used to pay project costs. Project costs include capital, financing, real property assembly, professional service, and administrative costs.