Okla. Stat. tit. 59, § 59-495i: Physician Preceptor Tax Credit Revolving Fund

There is hereby created in the State Treasury a revolving fund

for the State Board of Medical Licensure and Supervision to be

designated the “Physician Preceptor Tax Credit Revolving Fund”. The

fund shall be a continuing fund, not subject to fiscal year

limitations, and shall consist of the monies received by the Board

from a portion of licensure fees received from allopathic physicians

under subsection I of Section 1 of this act. All monies accruing to

the credit of the fund are hereby appropriated and the fund shall be

used to make a transfer payment to the Oklahoma Tax Commission in an

amount equal to the amount of tax credits awarded pursuant to this

act. The Oklahoma Tax Commission shall apportion monies transferred

from the fund in the same manner as provided by Section 2352 of

Title 68 of the Oklahoma Statutes. Monies in the fund which are not

required for payment of administrative expenses to the Health Care

Workforce Training Commission, which shall not exceed five percent

(5%) of monies apportioned to the fund, or which are not required to

be transferred to the Oklahoma Tax Commission as otherwise required

by this act to offset the revenue impacted by the use of the income

tax credits awarded pursuant to Section 1 of this act may be used to

implement programs required or authorized by law.