SECTION 710:85-7-3. Procedure upon qualification; payment

(a)   Procedures upon approval by Office. Upon notification to the Commission of each approved claim by the Office, the Commission will verify:

(1)   That the claim of the production company contains an affidavit stating that the company has not received an exemption from sales taxes pursuant to the provisions of 68 O.S. § 1357; and,

(2)   The production company has filed or will file any Oklahoma tax return or tax document which may be required by law.

(b)   When repayment of taxes may be required. If the facts set out in (a) of this Section cannot be verified, then the Commission shall require repayment of previously exempted sales taxes, and documentation that the taxes have been repaid shall be included in the claim.

(c)   Payment of claims. Upon approval of the claim by the Office and processing by the Commission, the Commission shall issue payment for all approved claims from funds in the "Fund" on or after July 1, 2006, and on or after each July 1 thereafter following the fiscal year in which the documented expenditures were made. The amount of payments in any single fiscal year shall not exceed Four Million Dollars ($4,000,000.00). If the amount of approved claims exceeds the amount specified in this Section in a fiscal year, then the payments will be made in the order in which claims are approved by the office and any remaining approved claims will be carried over to the next fiscal year, subject to the same limitations for that year as set out in this Section.

[Source: Added at 20 Ok Reg 2594, eff 7-11-03; Amended at 22 Ok Reg 2249, eff 6-25-05; Added at 23 Ok Reg 2870, eff 6-25-06; Amended at 28 Ok Reg 969, eff 6-1-11; Amended at 32 Ok Reg 1407, eff 8-27-15; Amended at 36 Ok Reg 1243, eff 8-11-19]