SECTION 150:65-5-4. Project incentive offer

(a)   After a former military facilities development project incentive offer is authorized by the Oklahoma Department of Commerce, a quality jobs representative shall prepare an incentive offer for the Executive Director's review and signature. The signed incentive offer shall then be forwarded to the establishment. An incentive offer may be accepted by the establishment within sixty (60) days of the date of signing by the Executive Director.

(b)   The project incentive offer shall be on a form prescribed by the Department which shall include the following information:

(1)   The net benefit rate which will be multiplied by verified gross quarterly payroll to determine the amount of quarterly payments;

(2)   The estimated net direct state benefits which is the maximum amount of benefits payments available;

(3)   The approval date of the incentive offer;

(4)   The baseline employment if applicable; and

(5)   Any other information the Department deems necessary.

(c)   Upon acceptance and certification of the incentive offer, the establishment shall return the incentive offer to the Department. The incentive offer, signed by the chief executive officer or authorized representative, shall be returned to the Department by certified mail with return receipt requested, by personal delivery or other means approved by the Department.

(d)   For all purposes of the Former Military Facility Development Act, the effective date of approval of the incentive offer will be the date signed, accepted and certified incentive offer is received by the Department. Provided, however, the approved project may have a start date which is different than the effective date of approval.

[Source: Added at 12 Ok Reg 19, eff 9-29-94 (emergency); Added at 12 Ok Reg 1339, eff 5-25-95]