Payment calculation

Official textoscn.netlast amended 2022

# A.

Subject to the approval and ongoing review of the eligibility application by the Oklahoma Department of Commerce, the investment rebate payment authorized by this act shall be equal to three and four-tenths percent (3.4%) of the cost of the qualified capital expenditure in the year of expenditure; investment rebate payments in the same amount shall be allowed in each of the four (4) subsequent years, provided the Department has verified that the establishment remains eligible for such payment in each successive year based on the eligibility criteria of this act.

# B.

For the purpose of calculating the investment rebate payment authorized in subsection A of this section, the "cost of the qualified capital expenditure" shall include the cost of such capital expenditure by the primary establishment and also the cost of such capital expenditure by subsidiaries of the primary establishment, provided such subsidiary is defined or classified in the NAICS Manual under Industry Group No. 5132, 5222, or 5413.

# C.

The Oklahoma Department of Commerce is authorized to conditionally pre-qualify and account for anticipated future investment rebate payments. The Oklahoma Department of Commerce shall not pre-qualify investment rebate payments, encumber funds, pre-encumber funds, or otherwise allocate resources in any way that would result in the allocation of investment rebate payments in excess of the balance of available funds in the Large-scale Economic Activity and Development Fund.

Amendment history

Added by Laws 2022, c. 66, § 5.

Source: view the official text

Nearby sections (25 sections)

Full table of contents →