Okla. Stat. tit. 62, § 62-690.4

A. The following benefits and incentives shall be available to

qualified enterprises:

1. Two times the amount of investment tax credits as provided

in subsection A of Section 2357.4 of Title 68 of the Oklahoma

Statutes. For purposes of this act and for purposes of computing

the tax credit amount pursuant to subsection A of Section 2357.4 of

Title 68 of the Oklahoma Statutes, if an enterprise selects to claim

the credit based upon the qualified cost of depreciable property,

the credit amount shall be two percent (2%) of such qualified cost.

If an enterprise selects to claim the credit based upon the number

of new full-time-equivalent positions, the credit amount shall be

One Thousand Dollars ($1,000.00) for each new full-time-equivalent

employee;

2. Sales tax exemptions for certain manufacturers as provided

in Section 1359 of Title 68 of the Oklahoma Statutes; and

3. Low interest loans as provided in Section 690.16 of this

title.

B. Any enterprise moving into an enterprise zone on or after

the effective date on which the enterprise zone is designated may

obtain the benefits and incentives provided by this section if the

Oklahoma Statutes - Title 62. Public Finance Page 476

enterprise meets the requirements established by law for the receipt

of such benefits.

C. An enterprise located within an enterprise zone before the

date on which the enterprise zone is designated may obtain the

benefits and incentives provided by this section with respect to any

project or any expansion of its labor force occurring after the date

on which the enterprise zone is designated.

D. For purposes of obtaining the benefit provided by paragraph

1 of subsection A of this section, a business, which prior to the

effective date of this act, located in an area that was designated

as an enterprise zone at the time any official action was taken by a

public trust or private funds with respect to location of such

business in a county, city or town designated as the beneficiary of

such public trust or private funds, shall be entitled to such

benefit for any taxable year during which such business was located

and operating in the area regardless of any changes in the

designation of the area as an enterprise zone resulting from a

change in employment levels.

E. For purposes of obtaining the benefit provided by paragraph

1 of subsection A of this section, a business, which prior to July

1, 1993, located in an area that was not designated as an enterprise

zone at the time of location of the business but such area has since

been designated as an enterprise zone by the Oklahoma Department of

Commerce as a result of the area's location in County 115, Tract

9746, Block Group 4 of the 1990 decennial census, shall be entitled

to such benefit for any taxable year during which such business was

located and operating in the location regardless of designation of

the area in which the business located as an enterprise zone area

after the date of initial location of the business.

F. The low interest loans as authorized by this section shall

be available for a period of five (5) years following the date on

which the county or area within the corporate limits of a city or

town is designated an enterprise zone, or until said county or area

no longer qualifies as an enterprise zone.

G. The other benefits and incentives set forth in this section

shall be subject to the limitations as provided by law.