Okla. Admin. Code § 150:105-1-5

Current through Vol. 42, No. 7, December 16, 2024

Section 150:105-1-5 - Annual reporting

(a) Before February 1 st of each year, entities who have been approved for participation in the program will certify and submit a report to the Department containing information about each of the following:

(1) The amount of local government investment spent in the district to date.

(2) The amount of future local government investment in the district with a projected timeline of the future investment.

(3) The estimated amount of private company investment in the district.

(4) The anticipated amount of future private company investment in the district with a projected timeline of the future investment.

(5) For ad valorem TIF projects:

(A) The aggregate assessed value of properties in the district for the base year;

(B) The aggregate assessed value of properties in the district for each year subsequent to the base year;

(C) The aggregate assessed value of properties in the project area for the base year;

(D) The aggregate assessed value of properties in the project area for each year subsequent to the base year.

(6) For sales tax TIF projects:

(A) The base level of aggregate sales tax attributable to businesses in the district; and

(B) The base level of aggregate sales tax attributable to businesses in the project area.

(b) Attached to the certified report, the entity will include all of the following supporting documentation:

(1) A map with a defined boundary of the district;

(2) A map of the project area; and

(3) A list of properties and operating companies in the district with the FEI/EIN of the operating companies.

(c) The entity will continue submitting these annual reports to the Department until they have submitted a final report after the project has been completed.

Okla. Admin. Code § 150:105-1-5

Adopted by Oklahoma Register, Volume 39, Issue 24, September 1, 2022, eff. 9/11/2022