Okla. Admin. Code § 710:95-21-4

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

Section 710:95-21-4 - Quality event approval and application requirements

(a)Application for approval. Within sixty (60) days of the adoption date of the ordinance or resolution designating a quality event, which must be adopted not later than thirty (30) days prior to the initial date of the designated quality event, the host community must submit a written request for recognition as a quality event to the Tax Policy Division, Oklahoma Tax Commission Oklahoma City, Oklahoma 73194. The postmark date of the written request for recognition as a quality event is deemed to be its date of delivery.

(b)Application requirements. The application for recognition must include the following:

(1)Ordinance or resolution. A copy of the ordinance or resolution designating the quality event;

(2)Economic impact study. The economic study must include the following information:

(A) A description and, if applicable, history of the quality event.

(B) Information regarding the site selection process for the quality event.

(C) An estimate of the expenses anticipated to be incurred in connection with hosting the quality event which specifically categorizes the type of expenses, such as advertising, anticipated to be incurred along with the estimated costs associated therewith.

(D) An estimate of the total gross sales made by vendors during any period of time during which no quality event activity occurs.

(E) A detailed estimate of the anticipated increase in sales tax revenue directly attributable to the quality event.

(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)Event history. The event history must include the following information:

(A)Historical information on the event including past 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. [68 O.S. § 4303]

(c)Ineligibility for quality event recognition. The Tax Commission shall not consider any application for quality event recognition which is not submitted within the statutory timeframe outlined in this Section.

Okla. Admin. Code § 710:95-21-4

Added at 29 Ok Reg 1478, eff 6-25-12

Amended by Oklahoma Register, Volume 31, Issue 24, September 2, 2014, eff. 9/12/2014

Amended by Oklahoma Register, Volume 32, Issue 23, August 17, 2015, eff. 8/27/2015

Amended by Oklahoma Register, Volume 36, Issue 22, August 1, 2019, eff. 8/11/2019

Amended by Oklahoma Register, Volume 38, Issue 23, August 16, 2021, eff. 9/1/2021

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