There is a bill (HB2132) in the Oklahoma legislature which requires us to educate ourselves about. It calls for the legislature to approve an interstate compact whereby a group of citizens within our state may opt out of layers of current state regulations, protections, and benefits.
Those groups (usually municipalities or other local entities) would have to unanimously approve the agreement.
The proponents tell us that a very similar arrangement was made several decades ago, when Disney Corporation began developing plans for Walt Disney World, in central Florida. They tell us that these arrangements were vital to the effort to even create the nation's most successful entertainment district. Since every member of the district had to approve the compact, there were no passive potential victims.
What resulted is perhaps the greatest economic boost to all of Florida and even the nation, itself. There are other Disney destinations, but none are even comparable to the Orlando option.
HB2132 is sponsored by leaders of both chambers. It sits in the Senate Rules Committee, having been approved by the House with 60 supporters.
Within a Prosperity District, there is:
- No eminent domain or civil forfeiture power
- No taxing power
- No subsidization of private enterprise
- Limited borrowing capacity and no possibility of state or federal bailout
- Strong limits on regulatory authority to keep cronyism at bay
- State-of-the-art regulatory and fiscal best practices for a local community that wants them.
- When two states pass the same legislation, those reforms are shielded from special interest interference.
- When Congress consents, reforms within the Prosperity District become a federal law.