{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-851","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-851","heading":"Purpose of act","body":"The Local Development Act shall serve to implement and execute\n\nSection 6C of Article X of the Oklahoma Constitution as approved by\n\nthe voters of the State of Oklahoma on November 6, 1990, by:\n\n1. Providing for the granting of incentives and exemptions from\n\ntaxation within certain areas, placing restrictions thereon, and\n\nlimiting the time period for the exemptions, as authorized by\n\nsubsection A thereof;\n\n2. Providing for apportionment of an increment of local taxes\n\nand fees, placing restrictions thereon, and limiting the time period\n\nfor the apportionment, as authorized by subsection B thereof; and\n\n3. Providing for the planning, financing, and carrying out of\n\ndevelopment and redevelopment within certain areas, as authorized by\n\nsubsection C thereof.\n\nNothing in the Local Development Act shall be construed in a\n\nmanner contrary to or inconsistent with the provisions of said\n\nconstitutional provision.\n\nThe Legislature hereby finds that historic preservation,\n\nreinvestment or enterprise areas as defined under this act are\n\nunproductive, undeveloped, underdeveloped or blighted areas pursuant\n\nto subsection C of Section 6 of Article X of the Oklahoma\n\nConstitution.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"11de083cd65ccf1e9aafda5f2ffb8f695f966241cbffe151ba2151010f15cfda","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-850","next":"us-ok/okla.-stat.-tit.-62-62-852"},"notice":"GroundRules: Original legal text. Not legal advice."}