Okla. Stat. tit. 62, § 62-7004
This is the official text of Okla. Stat. tit. 62, § 62-7004, part of Oklahoma’s Stat. tit. 62, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 62,." Browse the sections below, each linked to its official government source.
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Periodic evaluations - Exemptions
Official statutory text
A. For calendar years 2024 through 2027 and every four (4)
years thereafter, the Incentive Evaluation Commission shall ensure
that each incentive is evaluated within the four-year evaluation
period unless the Commission determines that the incentive is exempt
from evaluation. The Commission may exempt from evaluation any
incentive that it concludes has a minimal fiscal impact. The
Commission shall determine a specific threshold amount which shall
be considered as a minimal fiscal impact for the current evaluation
cycle. The Commission may also conduct an expedited evaluation for
any incentive that has been evaluated at least two times from
calendar years 2016 through 2023 and has not had a material change
to the program since its prior evaluation. The expedited evaluation
will update the prior evaluation’s financial and economic impact and
findings and recommendations.
B. For calendar years 2016 through 2023, the Incentive
Evaluation Commission shall develop a four-year schedule for
evaluating incentives. The development of the schedule for
evaluating the incentives shall take into consideration fiscal
impacts to revenues of this state, including but not limited to the
General Revenue Fund, the opportunity to group incentives with
similar goals and objectives for evaluation, and the ability to
obtain sufficient data related to the incentives for evaluation.
Each schedule shall include a list of all incentives in the state,
including any it exempts from evaluation. In determining whether a
program is an incentive, the Incentive Evaluation Commission may
consider legislative intent and may also consider whether the
program is promoted as an incentive by any state agency. For each
incentive listed in the schedule, the Commission shall attempt to
identify the goal or goals of the incentive.
C. Upon approval of the schedule, the Commission shall provide
the schedule to the Governor, President Pro Tempore of the Senate,
and Speaker of the House of Representatives.
Oklahoma Statutes - Title 62. Public Finance Page 676
years thereafter, the Incentive Evaluation Commission shall ensure
that each incentive is evaluated within the four-year evaluation
period unless the Commission determines that the incentive is exempt
from evaluation. The Commission may exempt from evaluation any
incentive that it concludes has a minimal fiscal impact. The
Commission shall determine a specific threshold amount which shall
be considered as a minimal fiscal impact for the current evaluation
cycle. The Commission may also conduct an expedited evaluation for
any incentive that has been evaluated at least two times from
calendar years 2016 through 2023 and has not had a material change
to the program since its prior evaluation. The expedited evaluation
will update the prior evaluation’s financial and economic impact and
findings and recommendations.
B. For calendar years 2016 through 2023, the Incentive
Evaluation Commission shall develop a four-year schedule for
evaluating incentives. The development of the schedule for
evaluating the incentives shall take into consideration fiscal
impacts to revenues of this state, including but not limited to the
General Revenue Fund, the opportunity to group incentives with
similar goals and objectives for evaluation, and the ability to
obtain sufficient data related to the incentives for evaluation.
Each schedule shall include a list of all incentives in the state,
including any it exempts from evaluation. In determining whether a
program is an incentive, the Incentive Evaluation Commission may
consider legislative intent and may also consider whether the
program is promoted as an incentive by any state agency. For each
incentive listed in the schedule, the Commission shall attempt to
identify the goal or goals of the incentive.
C. Upon approval of the schedule, the Commission shall provide
the schedule to the Governor, President Pro Tempore of the Senate,
and Speaker of the House of Representatives.
Oklahoma Statutes - Title 62. Public Finance Page 676
Status: in_force · Read it on the official government site
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