Okla. Stat. tit. 68, § 68-2357.1A-1: Task Force for the Study of State Tax Credits and

Economic Incentives.

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

State Tax Credits and Economic Incentives.

B. The Task Force shall consist of ten (10) members to be

appointed or selected as follows:

1. The Chair of the Appropriations and Budget Committee of the

Oklahoma House of Representatives;

2. The Chair of the Appropriations Committee of the Oklahoma

State Senate;

3. The Chair of the Revenue and Taxation Subcommittee of the

Appropriations and Budget Committee of the Oklahoma House of

Representatives;

4. The Chair of the Senate Finance Committee;

5. The Director of the Office of Management and Enterprise

Services or a designee;

6. The State Treasurer or a designee;

7. The Oklahoma Secretary of State or a designee;

8. Minority Leader of the Oklahoma House of Representatives;

9. Minority Leader of the Oklahoma State Senate; and

10. The State Auditor and Inspector.

C. The Task Force shall conduct an organizational meeting not

later than September 30, 2011. 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 member who is 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 state tax

credits regardless of the tax type against which such credit may be

claimed and any other economic incentives that affect state or local

tax liabilities. The study shall include, but shall not be limited

to:

1. The justification for the enactment of any state tax credits

based upon the relevant economics of the applicable industry or

economic sector affected;

2. The economic impact related to the utilization of state tax

credits;

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

purchasers;

4. The impact of tax credits on any and all economic sectors of

the state economy;

5. The adequacy or inadequacy of state tax credits or other

economic incentives; and

6. Such other matters related to state tax credits or economic

incentives 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 Representatives 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, 2011.

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, 2012.