Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 95 - Miscellaneous Areas of Regulatory and Administrative Authority › Subchapter 21 - Quality Events › Section 710:95-21-2 - Definitions

Current through Vol. 41, No. 20, July 1, 2024
The following words and terms, when used in this Subchapter,
				  shall have the following meaning, unless the context clearly indicates
				  otherwise:
"Certified sponsor"
means an entity or
				  organization authorized to promote and conduct a quality event, which is
				  incurring expenses for the promotion of such event to be conducted within the
				  corporate limits of an eligible municipality or an unincorporated area within a
				  county.
"Commission"
means the Oklahoma Tax Commission.
"Economic impact study"
means a study,
				  which includes:
(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.
(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.
"Eligible local support amounts"
means:
(A)
Any payment made by a local government entity or
				  transfer of monies from the general fund or transfer of tax revenues derived
				  from a locally imposed tax to a certified sponsor for the purpose of
				  attracting, promoting, advertising, organizing, conducting or otherwise
				  supporting a quality event, or
(B)
Any direct payment made by a certified sponsor to
				  a for-profit or nonprofit entity, other than the host community, for the
				  purpose of attracting, promoting, advertising, organizing, conducting or
				  otherwise supporting a quality event.
"Event history"
means:
(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.
"Host community"
means any county,
				  incorporated city or town, or any combination of counties, incorporated cities
				  or towns of the state which are authorized by their respective governing bodies
				  to host or assist in the presentation of a quality event.
"Incremental sales tax revenue"
means, the
				  amount of additional state sales tax revenue as a result of the quality event,
				  as determined by an economic impact study verified by the Oklahoma Tax
				  Commission.
"New event"
means a quality event which
				  did not occur within a period of twenty-four (24) months prior to the month
				  during which a quality event is held.
"Quality event"
means:
(A)
A new event or a meeting of a nationally
				  recognized organization or its members,
(B)
A new or existing event that is a national,
				  international or world championship, or
(C)
A new or existing event that is managed or
				  produced by an Oklahoma-based national or international organization.
"Recurring event"
means a quality event which
				  occurred at least once within the twenty-four (24) months prior to the month
				  during which a quality event is held.
"State sales tax revenue"
means the proceeds
				  from the state sales tax levy imposed pursuant to Section
				  1354
				  of Title 68 of the Oklahoma Statutes upon taxable transactions occurring as a
				  result of the quality event, as determined by an economic impact study verified
				  by the Oklahoma Tax Commission.
"Vendors"
means those persons or business
				  entities making taxable sales of tangible personal property or services as a
				  result of the quality event, as determined by an economic impact study by the
				  Oklahoma Tax Commission and, unless the context otherwise requires, shall have
				  the same meaning as defined by Section
				  1352 of
				  Title 68 of the Oklahoma Statutes.
Added at 29 Ok Reg 1478,
				  eff 6-25-12