Okla. Stat. tit. 62, § 62-842

A. An enterprise which locates its facility within an

enterprise zone or which expands its existing facility after the

designation of an enterprise zone as authorized by law and which is

located in an incentive district as authorized pursuant to the

provisions of the Local Development Act shall be eligible for the

state local enterprise matching payment authorized pursuant to

subsection A of Section 844 of this title.

B. 1. A local governmental entity which approves a project

plan pursuant to the provisions of the Local Development Act within

an enterprise zone or in support of a major tourism destination

project which the local governmental entity determines is likely to

significantly benefit contiguous or nearby enterprise zone census

tracts shall be eligible for the state local government matching

payment authorized pursuant to subsection D of Section 844 of this

title; provided, no state local government matching payment shall be

made for project costs in relation to:

a. any gambling establishment, or

b. any development within a project plan that provides

for more than fifty percent (50%) of the net leasable

space of such development to be used for retail

purposes except for such portions of a development

which includes grocery or specialty food store

enterprises defined under NAICS Manual Industry Group

No. 4451 or 4452 that provide healthy nutrition

options including fresh fruits, vegetables, whole

grains, seeds, nuts and healthy protein and that

improve access within one-half (1/2) mile of any low

income and low access geographies identified by the

United States Department of Agriculture.

State local government matching payments shall not be used to

supplant local revenue currently being expended within the increment

district boundaries.

2. In order to be eligible for state local government matching

payments for approving a project within an enterprise zone, a local

governmental entity shall provide to the Oklahoma Department of

Commerce as part of the application provided for in subsection J of

this section:

a. an estimate of incremental revenues likely to be

derived from the project, and

b. certification that all projects described within the

related project plan will generate, in the aggregate,

a minimum of either One Million Dollars

($1,000,000.00) in payroll, exclusive of payroll for

construction, or Five Million Dollars ($5,000,000.00)

in investment.

Oklahoma Statutes - Title 62. Public Finance Page 533

3. In order to be eligible for state local government matching

payments in support of a major tourism destination project, a local

governmental entity shall provide to the Oklahoma Department of

Commerce as part of the application provided for in subsection K of

this section:

a. an estimate of incremental revenues new to the state

likely to be derived from the project,

b. certification that the major tourism destination meets

the applicable criteria described in paragraph 12 of

Section 841 of this title, and

c. an agreement to provide payment to the Oklahoma

Department of Commerce to defray the costs of the

study required by paragraph 4 of this subsection.

4. To determine if a project qualifies as a major tourism

destination project pursuant to subparagraph b of paragraph 12 of

Section 841 of this title and to assist in other required

determinations, the Oklahoma Department of Commerce shall cause a

market and feasibility study to be conducted by an independent

consultant with experience in the conduct of such studies. Upon

review of the feasibility report, the Oklahoma Department of

Commerce shall make its finding as to the reasonable probability

that the proposed project is a major tourism destination project as

provided in subparagraph b of paragraph 12 of Section 841 of this

title.

C. For purposes of the Oklahoma Local Development and

Enterprise Zone Incentive Leverage Act, an enterprise engaged in a
Upon

review of the feasibility report, the Oklahoma Department of

Commerce shall make its finding as to the reasonable probability

that the proposed project is a major tourism destination project as

provided in subparagraph b of paragraph 12 of Section 841 of this

title.

C. For purposes of the Oklahoma Local Development and

Enterprise Zone Incentive Leverage Act, an enterprise engaged in a

retail activity, where otherwise prohibited by the Oklahoma

Enterprise Zone Act for purposes of the benefits and incentives

extended pursuant to the Oklahoma Enterprise Zone Act, shall be

considered an eligible enterprise for purposes of the state local

enterprise matching payment authorized by the Oklahoma Local

Development and Enterprise Zone Incentive Leverage Act.

D. The maximum amount of state local enterprise matching

payments for an enterprise per fiscal year shall not exceed Two

Hundred Thousand Dollars ($200,000.00).

E. Except as provided in subsection H of this section, for

purposes of the Oklahoma Local Development and Enterprise Zone

Incentive Leverage Act, the maximum amount of aggregate investment

in all qualifying facilities located in any single county which can

qualify for a state local enterprise matching payment pursuant to

subsection A of Section 844 of this title shall be computed for each

county of the state by multiplying Two Hundred Dollars ($200.00)

times the population of the county according to the most recent

estimate provided by the United States Bureau of the Census prior to

the date an application is made.

F. The computation required by subsection E of this section

shall be the maximum amount of aggregated investment qualifying for

Oklahoma Statutes - Title 62. Public Finance Page 534

the purposes of all enterprises for the duration of the Oklahoma

Local Development and Enterprise Zone Incentive Leverage Act.

G. The aggregate investment limit for all facilities located

within a county which may qualify for the state local enterprise

matching payments pursuant to subsection A of Section 844 of this

title shall:

1. Not be less than Twenty Million Dollars ($20,000,000.00) for

counties with a population less than one hundred thousand (100,000)

persons; and

2. Not be greater than Forty Million Dollars ($40,000,000.00)

for all other counties of the state.

H. The aggregate limit for all state local government matching

payments made to any public entity on behalf of any local

governmental entity within a single county pursuant to subsection D

of Section 844 of this title for the duration of the Oklahoma Local

Development and Enterprise Zone Incentive Leverage Act shall be an

amount equal to the net benefit rate multiplied by the taxable gross

sales derived from the project over the period of apportionment of

local sales taxes, as certified by the Secretary of Commerce.

I. The payments authorized by Section 844 of this title shall

be available for business and governmental entities qualifying

pursuant to the Local Development Act for investments made within an

incentive district or for improvements made within an increment

district prior to December 31, 2007, or for which an incentive

district or an increment district has been created prior to December

31, 2028, if the investments or improvements are begun not later

than December 31, 2029.

J. An enterprise or entity receiving payments authorized

pursuant to the provisions of Section 844 of this title shall

annually report to the Oklahoma Department of Commerce the

following:

1. All employment resulting from the project or facility

location or expansion, including payroll amounts;

2. Capital investment amounts resulting from the project or

facility location or expansion; and

3. Changes in the assessed value of property resulting from the

project or facility location or expansion.

The enterprise or entity shall also provide consent for the

Department to furnish the reported information to the Incentive
ject or facility

location or expansion, including payroll amounts;

2. Capital investment amounts resulting from the project or

facility location or expansion; and

3. Changes in the assessed value of property resulting from the

project or facility location or expansion.

The enterprise or entity shall also provide consent for the

Department to furnish the reported information to the Incentive

Evaluation Commission only for evaluation purposes by the Commission

or a designee. The information furnished to the Commission shall be

disaggregated and on a per project basis. The Department shall make

available on the Department website the information reported

pursuant to this subsection.

K. The Oklahoma Department of Commerce shall promulgate rules

for administration of the Oklahoma Local Development and Enterprise

Zone Incentive Leverage Act. Such rules shall:

Oklahoma Statutes - Title 62. Public Finance Page 535

1. Include a procedure for an enterprise or local governmental

entity to make application for state local enterprise and state

local government matching payments pursuant to this section;

2. Reflect the intent that the Oklahoma Local Development and

Enterprise Zone Incentive Leverage Act be fiscally neutral to the

state; and

3. Establish reporting requirements, including the requirements

provided in subsection J of this section, for successful applicants

which allow data collection and analysis by the Department on

employment, capital investment, changes in assessed value of a

project and other impacts resulting from payments and reporting of

such data by the Department to the Oklahoma Tax Commission for the

purposes of subsection B of Section 847 of this title.