Okla. Stat. tit. 68, § 68-3803
This is the official text of Okla. Stat. tit. 68, § 68-3803, part of Oklahoma’s Stat. tit. 68, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 68,." Browse the sections below, each linked to its official government source.
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Former Military Facility Projects Fund
Official statutory text
There is hereby created within the State Treasury a special fund
for the Oklahoma Tax Commission to be designated the "Former
Military Facility Projects Fund". The Oklahoma Tax Commission is
hereby authorized and directed to withhold a portion of the taxes
levied and collected pursuant to Section 2355 of Title 68 of the
Oklahoma Statutes for deposit into the Fund. The amount deposited
shall equal the sum of an amount determined by multiplying the net
benefit rate provided by the Department of Commerce by the gross
payroll of each qualified military facility project establishment.
All of the amounts deposited in such Fund shall be used and expended
by the Tax Commission solely for the purposes and in the amounts
authorized by the Former Military Facility Development Act.
Liability of the State of Oklahoma to make the payments under the
Former Military Facility Development Act shall be limited to the
balance contained in the Fund created by this section. Provided,
the Tax Commission may never pay more than Two Million Five Hundred
Thousand Dollars ($2,500,000.00) from the Fund in any one (1) fiscal
year.
for the Oklahoma Tax Commission to be designated the "Former
Military Facility Projects Fund". The Oklahoma Tax Commission is
hereby authorized and directed to withhold a portion of the taxes
levied and collected pursuant to Section 2355 of Title 68 of the
Oklahoma Statutes for deposit into the Fund. The amount deposited
shall equal the sum of an amount determined by multiplying the net
benefit rate provided by the Department of Commerce by the gross
payroll of each qualified military facility project establishment.
All of the amounts deposited in such Fund shall be used and expended
by the Tax Commission solely for the purposes and in the amounts
authorized by the Former Military Facility Development Act.
Liability of the State of Oklahoma to make the payments under the
Former Military Facility Development Act shall be limited to the
balance contained in the Fund created by this section. Provided,
the Tax Commission may never pay more than Two Million Five Hundred
Thousand Dollars ($2,500,000.00) from the Fund in any one (1) fiscal
year.
Status: in_force · Read it on the official government site
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