Bill
Bill > HB3841
OK HB3841
OK HB3841Public finance; Local Development Act; definitions; plans; approval; review committees; economic impact statement; procedures; effective date.
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/03/2026
02/03/2026
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
2026 Regular Session
Bill Summary
An Act relating to public finance; amending 62 O.S. 2021, Sections 851, 853, and 855, which relate to the Local Development Act; modifying definitions; modifying references to blight; modifying procedures for approval of certain district, plan or project; requiring submission of question to voters of applicable jurisdiction; requiring approval of district, plan or project by majority vote; modifying provisions related to supermajority approval by governing board; requiring separate approval by local taxing jurisdictions; modifying provisions related to confidential information; prohibiting members of review committees from receiving things of value; requiring members of review committees to complete certain instruction; requiring annual meetings of review committees; requiring for certain presentations to review committees; requiring review committees to obtain certain professional opinions; imposing limitation based upon certain advice provided to governing body or other entities; requiring review committee to obtain certain information; requiring economic impact statement; providing for codification; and providing an effective date.
AI Summary
This bill, amending the Local Development Act, modifies definitions and procedures related to local economic development projects, including changing the term "blighted" to "underdeveloped" when describing areas eligible for development. Key changes include requiring voter approval by a majority vote for any proposed district, plan, or project, and mandating separate approval from local taxing jurisdictions for their tax revenues to be included. The bill also introduces new requirements for review committees, such as prohibiting members from accepting anything of value from entities that would benefit from a project, requiring members to complete specific training, mandating annual meetings, and requiring presentations for and against proposed projects. Furthermore, review committees must now obtain professional legal and financial advice, and importantly, must prepare or obtain an economic impact study detailing the project's effects on taxing jurisdictions and the local economy before making recommendations to the governing body.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
House Committee Proposed Policy Committee Amendment 1 - Proposed Policy Committee Amendment 1 (on 02/12/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=hb3841&Session=2600 |
| Fiscal Note/Analysis - House: Proposed Policy Committee Amendment 1 | https://www.oklegislature.gov/cf_pdf/2025-26%20SUPPORT%20DOCUMENTS/BILLSUM/House/HB3841%20POLAMD1%20BILLSUM.PDF |
| Proposed Policy Committee Amendment 1 | https://www.oklegislature.gov/cf_pdf/2025-26%20COMMITTEE%20AMENDMENTS/House/HB3841%20POLAMD1%20TOM%20GANN-MAH.PDF |
| Fiscal Note/Analysis - House: Introduced | https://www.oklegislature.gov/cf_pdf/2025-26%20SUPPORT%20DOCUMENTS/BILLSUM/House/HB3841%20INT%20BILLSUM.PDF |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/hB/HB3841%20INT.PDF |
Loading...