Okla. Admin. Code § 710:95-21-9

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

Section 710:95-21-9 - Manner of determining payment

The Commission must compare the total amount of eligible local support amounts with the total amount of incremental state sales tax revenues remitted by vendors, such revenues to be established through the economic impact study. Payments made to the host community are governed by the following determinations:

(1) If a determination is made that the total amount of incremental state sales tax revenues is zero, no payment shall be made to a host community.

(2) If a determination is made that the total amount of incremental state sales tax revenues is greater than zero, but less than the total amount of eligible local support amounts, a payment shall be made subject to the limitation of the payment cap provided for in Section 710:95-21-10(b), to the host community of the quality event in an amount equal to the incremental state sales tax revenues.

(3) If a determination is made that the total amount of incremental state sales tax revenues is at least equal to the amount of eligible local support amounts, a payment shall be made, subject to the limitation of the payment cap provided in Section 710:95-21-10(b), to the host community in which the quality event occurs in an amount equal to, but not greater than, the eligible local support amounts.

Okla. Admin. Code § 710:95-21-9

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

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 39, Issue 24, September 1, 2022, eff. 9/11/2022