SECTION 150:140-1-1. Purpose and scope

(a)   The purpose of these rules is to implement the Oklahoma Quick Action Closing Fund at the Oklahoma Department of Commerce.

(b)   All monies accruing to the credit of the fund are hereby appropriated and may be budgeted and expended by the Governor for the purposes of economic development and related infrastructure development in instances in which expenditure of such funds would likely be a determining factor in locating a high-impact business project or facility in Oklahoma, in retaining such project or facility within the state or for payment of rebates to a high impact production pursuant to the Oklahoma Film Enhancement Rebate Program. Expenditures from the fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of State Finance for approval and payment.[62 O.S. § 48.2(B)]

[Source: Added at 30 Ok Reg 101, eff 11-1-12 (emergency); Added at 30 Ok Reg 481, eff 5-25-13; Amended at 37 Ok Reg 1041, eff 9-11-20]