Okla. Stat. tit. 68, § 68-3914

A. Except for the payment amount required by subsection E of

this section, an establishment which meets the qualifications

specified in the 21st Century Quality Jobs Incentive Act may receive

quarterly incentive payments for a ten-year period from the Oklahoma

Tax Commission pursuant to the provisions of this act, as verified

by the Tax Commission, in an amount equal to:

1. The gross payroll multiplied by the initial net benefit rate

until such time as the establishment creates ten new direct jobs; or

2. The gross payroll multiplied by the fulfillment net benefit

rate after such time as the establishment created and maintains ten

new direct jobs.

B. In order to receive incentive payments, an establishment

shall apply to the Oklahoma Department of Commerce. The application

shall be on a form prescribed by the Department and shall contain

such information as may be required by the Department to determine

if the applicant is qualified. The establishment may apply for an

effective date for a project, which shall not be more than twelve

(12) months from the date the application is submitted to the

Department.

C. Before approving an application for incentive payments, the

Department must first determine that the applicant meets the

following requirements:

1. Be engaged in a basic industry as defined in the 21st

Century Quality Jobs Incentive Act;

2. Will hire at least ten full-time employees in this state

within twelve (12) quarters of the date of application;

3. Will pay the individuals it employs in new direct jobs an

average annualized wage which equals or exceeds three hundred

percent (300%) of the average county wage for the county in which

the applicant is located as that percentage is determined by the

Oklahoma Statutes - Title 68. Revenue and Taxation Page 1458

Department of Commerce based on the most recent U.S. Department of

Commerce data. For purposes of this paragraph, health care premiums

paid by the applicant for individuals in new direct jobs shall not

be included in the annualized wage. Provided, no average wage

requirement shall exceed Ninety-four Thousand Dollars ($94,000.00)

in any county. This maximum wage threshold shall be indexed and

modified from time to time based on the latest Consumer Price Index

year-to-date percent change release as of the date of the annual

average county wage data release from the Bureau of Economic

Analysis of the U.S. Department of Commerce;

4. Has a basic health benefit plan which, as determined by the

Department, meets the elements established under divisions (1)

through (7) of subparagraph b of paragraph 1 of subsection A of

Section 3603 of this title and which will be offered to individuals

within twelve (12) months of employment in a new direct job;

5. Has not received incentive payments under the Small Employer

Quality Jobs Program Act, the Saving Quality Jobs Act or the Former

Military Facility Development Act; and

6. Is not qualified for approval of an application for

incentive payments under the Small Employer Quality Jobs Program

Act, the Saving Quality Jobs Act or the Former Military Facility

Development Act.

D. The Oklahoma Department of Commerce shall determine if an

applicant is qualified to receive the incentive payment. Upon

qualifying the applicant, the Department shall notify the Tax

Commission and shall provide it with a copy of the contract and

approval which shall provide the number of persons employed by the

applicant upon the date of approval and the maximum total incentives

which may be paid to the applicant during the ten-year period. The

Tax Commission may require the qualified establishment to submit

additional information as may be necessary to administer the

provisions of this act. The approved establishment shall report to

the Tax Commission quarterly to show its continued eligibility for

incentive payments, as provided in Section 3905 of this title.
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which may be paid to the applicant during the ten-year period. The

Tax Commission may require the qualified establishment to submit

additional information as may be necessary to administer the

provisions of this act. The approved establishment shall report to

the Tax Commission quarterly to show its continued eligibility for

incentive payments, as provided in Section 3905 of this title.

Establishments may be audited by the Tax Commission to verify such

eligibility. Once the establishment is approved, an agreement shall

be deemed to exist between the establishment and the State of

Oklahoma, requiring incentive payments to be made for a ten-year

period as long as the establishment retains its eligibility and

within the limitations of this act as it existed at the time of such

approval.

E. For any contract executed by an establishment on or after

the effective date of this act, five percent (5%) of the quarterly

incentive payment amount shall be transferred by the Oklahoma Tax

Commission to the Oklahoma Quick Action Closing Fund.

Oklahoma Statutes - Title 68. Revenue and Taxation Page 1459