News:

Long overdue maintenance happening. See post in the top forum.

Main Menu

State tax incentives for sporting events?

Started by JeffM, April 25, 2010, 11:20:12 AM

Previous topic - Next topic

JeffM

Incentive plan: Quality events bill would help cities
THE OKLAHOMAN EDITORIAL    
Published: April 20, 2010

Read more: http://www.newsok.com/incentive-plan-quality-events-bill-would-help-cities/article/3455253?custom_click=pod_headline_opinion-oklahoman-editorials#ixzz0m84Y0cU5

QuoteThe Oklahoma Quality Events Incentive Act, Senate Bill 1284 by Sen. Gary Stanislawski, R-Tulsa, was approved by the Senate after something of a bumpy ride. It made it through committee on the House side and is scheduled to be heard by the full House today.

The word "incentives" makes some lawmakers nervous, particularly in these difficult economic times. But SB 1284 would have no fiscal impact on the budget that legislative leaders are trying to craft for the upcoming fiscal year, or the next one. If approved, it wouldn't become effective until July 1, 2012.

The bill would allow for extra state sales tax revenue generated by a "quality event" — a horse show, an NCAA tournament, etc. — to be returned to host communities to help them retain and promote the event, and recruit others. The incentive would be offered for three years. An event that doesn't generate a bump in state sales tax collections wouldn't get anything back from the state.

http://www.tulsabusiness.com/article.asp?aID=24777188.1166293.662272.4432451.9208563.553&aID2=50935

QuoteOklahoma may soon have a new tool in attracting national events.

Senate Bill 1284, known as the Quality Events bill, passed the House by a vote of 80-19.

The bill, a top priority on the Tulsa Chamber's OneVoice agenda, will allow Oklahoma communities to use the incremental state sales tax generated by a quality event to assist in the recruitment, promotion and expansion of nationally appealing conventions, shows and events.

I'm sure this will be the lynchpin to Tulsa's 2020 Olympic bid....  ::)
Bring back the Tulsa Roughnecks!.... JeffM is now TulsaRufnex....  http://www.tulsaroughnecks.com

RecycleMichael

currently, the 'Dan P Holmes' of bringing NASL pro soccer to Tulsa...

+1
Power is nothing till you use it.

fotd

Persevere Ruff....RM's right....and look what eventually unfolded down the highway to Arkansas.