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Schedule

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.
Oklahoma Department of Commerce

Energy Efficient Residential Construction Tax Credit

Estimated Incentive Cost

$4,876,495

Program Type

Tax credit

Citation

68 O.S. sec.2357.46

Industry

Residential

Sunset

None Found

Review Year

3
An income tax credit, not to exceed $4,000, is allowed for eligible expenditures incurred by a contractor in the construction of energy efficient residential property of 2,000 square feet or less. Unused credit may be carried over for a period of 4 years. This credit is transferable.
Oklahoma Department of Commerce

Small Business Incubators - Sponsors

Estimated Incentive Cost

N/A

Program Type

Tax Exemption

Citation

74 O.S. sec.5075 AND 68 O.S. sec.2359.E

Industry

Small Business

Sunset

None Found

Review Year

3
Income earned by a small business incubator sponsor from rental and service fees is exempt from income tax. This exemption is available for a period up to 10 years.
OCAST/i2E

Oklahoma Seed Capital Fund

Estimated Incentive Cost

3,500,000

Program Type

Equity investment

Citation

74 O.S. sec.5060.21

Industry

Technology Start-Up Companies

Sunset

none

Review Year

4
OCAST seeks to provide funding to innovative Oklahoma companies. Required co-investment with the private sector leverages the agency's investment. The Seed Capital fund includes a concept component intended to address the needs of companies requiring smaller seed capital investment for earlier-stage projects.
Oklahoma Department of Commerce

Economic Development Pooled Finance

Estimated Incentive Cost

$12,442,284

Program Type

Other

Citation

62 O.S. sec. 891.1

Industry

Multiple

Sunset

None Found

Review Year

4
The Oklahoma Community Economic Development Pooled Finance incentive targets business expansion projects which include job creation and significant investment in facilities, machinery, and equipment. With a $200 million capacity, this incentive is comprised of two funding options: Company-Purchased Debt option and Public Finance Debt option.
Oklahoma Tax Commission

Railroad Reconstruction or Replacement Expenditures

Estimated Incentive Cost

$640,232

Program Type

Tax Credit

Citation

68 O.S. sec.2357.104

Industry

Rail

Sunset

None Found

Review Year

4
A credit is available that is equal to 50% of an eligible taxpayer's qualified railroad reconstruction or replacement expenditures. The rules provide for the approval of qualified railroad reconstruction or replacement expenditures prior to commencement of a project and provide a certificate of verification upon completion of a project that uses qualified railroad reconstruction or replacement expenditures.
Oklahoma Department of Commerce

The Oklahoma Local Development and Enterprise Zone Incentive Leverage Act

Estimated Incentive Cost

N/A

Program Type

Grant; Loan guarantee

Citation

62 O.S. sec. 840

Industry

Enterprise Zones, Tourism, Military

Sunset

Project must be completed no later than December 31, 2024

Review Year

4
Provides funding for local units of government to match local tax revenue dedicated to support a project located in an enterprise zone, in support of a major tourism destination, or in support of a military growth impact. Projects must be located entirely in an enterprise zone, no more than 10% of the net leasable space may be used for retail, state local government payments cannot be used to supplant local revenue currently being expended within the increment district boundaries, and certification that all projects described within the related project plan will generate either a $1,000,000 in payroll or $5,000,000 in investment.

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