Okla. Stat. tit. 68, § 68-2357.11A: Task Force for the Study of Transferable Tax Credits

A. There is hereby created the Task Force for the Study of

Transferable Tax Credits.

B. The Task Force shall consist of nine (9) members to be

appointed or selected as follows:

1. Three members to be appointed by the Governor at least one

of whom shall be a principal member of the Governor’s staff;

2. Three members, who shall be members of the Oklahoma House of

Representatives, to be appointed by the Speaker of the Oklahoma

House of Representatives, one of whom shall be the Chair of the

Revenue and Taxation Subcommittee of the Appropriations and Budget

Committee; and

3. Three members, who shall be members of the Oklahoma State

Senate, to be appointed by the President Pro Tempore of the State

Senate, one of whom shall be the Chair of the Senate Finance

Committee.

C. The Task Force shall conduct an organizational meeting not

later than September 30, 2009. A majority of the members present at

the organizational meeting or any subsequent meeting shall

constitute a quorum for the purpose of any action taken including

the preparation and approval of the final report required by

subsection I of this section.

D. The cochairs of the Task Force shall be the member who is

the Chair of the Revenue and Taxation Subcommittee of the

Appropriations and Budget Committee and the Chair of the Finance

Committee of the State Senate.

E. The Task Force shall be authorized to meet as necessary in

order to perform the duties imposed upon it. Legislative members of

the Task Force shall be reimbursed for travel expenses pursuant to

the provisions of Section 456 of Title 74 of the Oklahoma Statutes.

Other members of the Task Force shall be reimbursed as provided by

the appointing authority.

F. The Task Force shall conduct a study regarding all tax

credits that are transferable to any person or entity other than the

entity to whom or to which the credits are initially made available

pursuant to the statute creating the credit. The study shall

include, but shall not be limited to:

1. The justification for the enactment of transferable tax

credits based upon the relevant economics of the applicable industry

or economic sector affected;

2. The economic impact related to the utilization of

transferable tax credits;

3. Analysis of the utilization of the credits by tax credit

purchasers; and

4. Such other matters related to the tax credit as the Task

Force deems relevant.

G. The Task Force shall be subject to the provisions of:

1. The Oklahoma Open Meeting Act; and

2. The Oklahoma Open Records Act.

H. Staff assistance for the Task Force shall be provided by the

staff of the Oklahoma House of Representative and the State Senate.

I. The Task Force shall produce a final written report of its

findings and any recommendations regarding transferable tax credits.

The report shall be submitted to the Governor, the Speaker of the

Oklahoma House of Representatives and the President Pro Tempore of

the State Senate not later than December 31, 2009.

J. The provisions of this section shall cease to have the force

and effect of law and the Task Force shall terminate effective

January 1, 2010.