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Schedule

Oklahoma Tax Commission

Economically At-risk Lease2 (Gross Production)

Estimated Incentive Cost

$1,838,997

Program Type

Rebate

Citation

68 O.S. sec. 1001 3A

Industry

Energy

Sunset

12/31/20

Review Year

2
Provides for a rebate of gross production tax for oil and gas produced in each Calendar year wherein the net proceeds derived from the sale of oil and natural gas are less than the gross production paid for the same year after deducting certain costs.
Oklahoma Tax Commission

Reestablished Production Rebate (Gross Production)

Estimated Incentive Cost

$255,324

Program Type

Rebate

Citation

68 O.S. sec. 1001 F

Industry

Energy

Sunset

6/30/20

Review Year

2
Provides for a 28 month rebate of gross production tax for wells brought back to production after being non-producing for 1 year.
Oklahoma Tax Commission

Investment/New Jobs Tax Credits

Estimated Incentive Cost

$56,744,407

Program Type

Tax credit

Citation

68 O.S. sec.2357.4

Industry

Various

Sunset

None Found

Review Year

3
An income tax credit is allowed for either an investment in depreciable property used in a manufacturing or processing facility or for a net increase in average levels of employment in said facilities. Any credit allowed but not used may be carried over in order to each of the 4 years following the year of qualification and, to the extent not used in those years, in order to each of the 15 years following the initial 5 year period.
Oklahoma Department of Agriculture, Food, & Forestry

Basic and Applied Research Loan/Grant

Estimated Incentive Cost

N/A

Program Type

Loan/Loan Participation

Citation

2 O.S.sec.5-3.1

Industry

Various

Sunset

None Found

Review Year

3
The purpose of the Oklahoma Agriculture Enhancement and Diversification Program is to promote and encourage the interests of agriculture through the allocation of funds, by grant or loan, to individuals, cooperatives and other agricultural entities to provide assistance to projects dealing with eh development of new or expanded uses of agriculture products, and to increase productivity and added value of agricultural products.
OCAST

Oklahoma Health Research

Estimated Incentive Cost

$3,000,000

Program Type

Grant/Reimbursable

Citation

74 O.S., Sections 5046 - 5055

Industry

N/A

Review Year

3
The purpose of the program is to help recruit and retain well-qualified health research scientists for the State, improve the competitiveness of Oklahoma-based investigators for national research funds, improve health care for the citizens of Oklahoma, and strengthen the State's health care industry. Research funded under this program investigates the causes, diagnosis, treatment and prevention of human diseases and disabilities and facilitates the development of health care products and services.
OCAST

Oklahoma Applied Research

Estimated Incentive Cost

$2,750,000

Program Type

Grant/Reimbursable

Citation

74 O.S., Section 5060.2 74 O.S., Section 5060.19 74 O.S., Section 5060.4

Industry

N/A

Review Year

3
The purpose of the OARS program shall be two-fold. First, it shall assist in the accelerated development of technology in the state by supporting applied research activities in existing and emerging technical areas in which the results have (1) a high probability of leading to commercially successful products, processes or services within a reasonable period of time and (2) a significant potential for stimulating economic growth within the state of Oklahoma. Secondly, the program shall encourage and sustain partnerships among institutions of higher education, non-profit research organizations and private enterprises by encouraging collaborative projects which are designed to promote increased knowledge and technology transfer.
Oklahoma Department of Commerce

Quality Investment Program

Estimated Incentive Cost

N/A

Program Type

Equity investment

Citation

74 O.S. sec. 5062.8A

Industry

Various

Sunset

None Found

Review Year

3
The Oklahoma Development Finance Authority can match dollar for dollar an investment enterprise's private capital for helping new and expanding businesses. An investment enterprise includes any corporation, limited partnership, or similar business entity, including entities qualifying as Small Business Investment Companies under applicable federal law. The primary function is to use private and public resources to build a more comprehensive and efficient financing infrastructure for businesses expanding or relocating in the state of Oklahoma.
Oklahoma Department of Commerce

Quick Action Closing Fund

Estimated Incentive Cost

$3,000,000

Program Type

Closing Fund

Citation

62 O.S.sec.48.2

Industry

Same as QJ

Sunset

None Found

Review Year

3
The fund is to be used for economic development and related infrastructure development when expenditure of funds is likely a determining factor in locating an high-impact business. In the 2013 legislative session the budget agreement included appropriating $3,000,000 to the Oklahoma Quick Action Closing Fund.
Oklahoma Center for the Advancement of Science and Technology

Technology Business Finance Program

Estimated Incentive Cost

N/A

Program Type

Equity investment

Citation

74 O.S. sec.5060.20a

Industry

Misc. Tech

Sunset

None Found

Review Year

3
TBFP provides Oklahoma tech start-up companies with pre-seed financing and early-stage risk capital to stimulate investments from private sources. TBFP is administered through a contract with i2E Inc. with awards ranging up to $100,000.
Oklahoma Tax Commission

Affordable Housing Act1

Estimated Incentive Cost

$4,000,000

Program Type

Tax Credit

Citation

68 O.S. sec. 2357.403

Industry

Residential

Sunset

None

Review Year

3
An income tax credit, equal to the amount of federal low-income housing tax credit, not to exceed $4.0 million per allocation year, is allowed for qualified housing projects placed in service after July 1, 2015.

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