SB1998

Oklahoma SB1998 amends the Oklahoma Quality Events Incentive Act to modify definitions, expand eligible expenses, and set limits on incentive.

Oklahoma SB1998 amends the Oklahoma Quality Events Incentive Act to redefine terms such as "certified sponsor," "economic impact study," and "eligible local support amounts." The bill expands eligible expenses for quality events and sets a limit on incentive payments for certain events. The Oklahoma Tax Commission is tasked with verifying eligible local support amounts and comparing them with projected incremental state sales tax revenues. The bill also mandates that no payment be made to a host community from sources other than projected incremental state sales tax revenues.