Excise tax on gross receipts for funding an arena facility to be owned by the City.
Oklahoma City Municipal Code § 52-23.8
in effect§ 52-23.8. - Excise tax on gross receipts for funding an arena facility to be owned by the City.
(a) A limited-term excise tax in the amount of one percent (1%) is hereby levied upon the gross proceeds or gross receipts derived from all sales taxable under the sales tax laws of this state, including but not limited to the specific taxable sales and service transactions enumerated in Paragraphs (1) through (11), inclusive, of Subsection (a) of Section 52-20 of this chapter.
(b) The limited-term excise tax levied pursuant to Subsection 52-23.8(a) above may be expended only for the limited purpose of funding all expenses related in any manner to constructing, establishing, providing, or maintaining an arena facility to be owned by The City of Oklahoma City.
(c) The term "City" as used in this section means The City of Oklahoma City, Oklahoma, a municipal corporation and/or any public trust with the City as its beneficiary.
(d) The term "expenses" as used in this section means all costs incurred by the City that are related in any manner to the limited purpose stated in Subsection (b) above. By way of illustration and not limitation, "expenses" as used in this section may include the funding of any and all real or personal property acquisition costs, real property interest acquisition costs, architectural costs, engineering costs, design costs, interior or exterior decoration costs, consulting costs, demolition costs, administrative costs, legal costs, costs for providing facilities related in any manner to the arena, costs of reimbursements or paybacks for expenditures made by a public trust with the City as a beneficiary, payment of financing costs for obligations related to the stated limited purpose that are issued by a public trust having the City as its beneficiary, and costs for any or all other item(s), article(s), payment(s), or financial obligation(s) incidental or related in any manner to constructing, establishing, providing, or maintaining an arena facility to be owned by the City.
(e) Pursuant to authority of 68 O.S. § 2701(B), there is hereby created a limited-purpose fund to be known as the "Arena Facility Sales Tax Fund" (hereinafter the "Fund") into which all revenues collected pursuant to Subsection 52-23.8(a) above shall be deposited. Money in the Fund shall be accumulated from year-to-year. The Fund shall be placed in an insured interest-bearing account and the interest that accumulates on the Fund shall be retained in the Fund. The Fund shall be non-fiscal and shall not be considered in computing any levy when the City makes its estimate to the Excise Board for needed appropriations. Money in the Fund shall be expended only as accumulated and only for the limited purpose specified in Subsection 52-23.8(b) above.
(f) The excise tax levied by this section begins at the same time the excise tax levied by City Ordinance No. 26,255 ends. Once effective, the tax levied by this section lasts for a limited term of 72 months and then such tax ends.
(g) The tax levied by this section will be codified as Section 52-23.8 of Chapter 52 of the Oklahoma City Municipal Code, 2020, and once effective, will be cumulative of other unexpired taxes codified in said Chapter 52.
(Ord. No. 27420, § 1, 9-26-23)
Source: City of Oklahoma City, Municipal Code and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/ok/oklahoma_city/codes/code_of_ordinances?nodeId=OKMUCO2020_CH52TA_ARTIISATACO_S52-23.8EXTAGRREFUARFABEOWCIFetched: 10/28/2026