The Incentive Evaluation Commission has approved the evaluation criteria for the 12 economic incentives offered by state government it will review in 2017. A list of the incentives to be reviewed can be found under the Evaluation tab or downloaded here: http://iec.ok.gov/resources/publications/iec-2017-final-review-schedule. The criteria used for review can be found here: http://iec.ok.gov/resources/publications/2017-evaluation-criteria.
A law enacted in 2015 requires state economic incentives to be independently evaluated once every four years. 2017 will mark the second round of such evaluations. The commission reviewed 11 incentives in 2016 and submitted a final report to the governor and legislative leaders last week.
The 2017 schedule and criteria includes a dozen incentives with an estimated annual financial cost of about $228 million. The evaluations will be delivered to the governor and legislative leaders in December 2017.
Incentives under review in 2017 include Quality Jobs programs, the Capital Gain Deduction and various energy sector incentives.
The evaluations will again be performed by the independent consulting firm of Public Financial Management Inc., a national firm specializing in public sector finances, and overseen by the commission. Each evaluation will determine the effectiveness of the incentive and recommend whether it be retained, reconfigured or repealed.