SECTION 150:65-1-11. Additional incentive payments

(a)   An establishment that is receiving incentive payments may not apply for additional incentive payments for any new projects until twelve (12) quarters after receipt of the first incentive payment, or until the establishment's actual verified gross payroll for new direct jobs equals or exceeds Two Million Five Hundred Thousand Dollars ($2,500,000.00) during any four consecutive-calendar-quarter period, whichever comes first. After meeting the requirements of this subsection, an establishment may apply for additional incentive payments based upon the gross payroll anticipated from an expansion only. 68 O.S. § 3606(F).

(b)   An establishment described in this subsection shall be required to repay all incentive payments received under the Oklahoma Quality Jobs Program Act if the establishment is determined by the Oklahoma Tax Commission to no longer have business operations in the state within three (3) years from the beginning of the calendar quarter for which the first incentive payment claim is filed. 68 O.S. § 3604(J).

(c)   If an establishment fails to achieve the required gross payroll within three (3) years of the start date, the establishment shall not make a new or renewal application for incentive payments authorized pursuant to the Oklahoma Quality Jobs Program Act for a period of twelve (12) months from the last day of the last month of the three-year period during which the required gross payroll amount was not achieved.68 O.S. § 3606(B).

[Source: Added at 10 Ok Reg 4723, eff 9-17-93 (emergency); Added at 11 Ok Reg 3671, eff 7-15-94; Amended at 15 Ok Reg 2475, eff 10-8-97 through 7-14-98 (emergency); Amended at 22 Ok Reg 1727, eff 6-25-05; Amended at 31 Ok Reg 883, eff 9-12-14]

Note

EDITOR’S NOTE: This emergency action expired without being superseded by a permanent action. Upon expiration of an emergency amendatory action, the last effective permanent text is reinstated. Therefore, on 7-15-98 (after the 7-14-98 expiration of the emergency action), the text of Section 150:65-1-11 reverted back to the permanent text that became effective 7-15-94, as was last published in the 1996 Edition of the OAC, and remained as such until amended by permanent action on 6-25-05.