{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-690.4","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-690.4","heading":"Benefits and incentives","body":"A. The following benefits and incentives shall be available to\n\nqualified enterprises:\n\n1. Two times the amount of investment tax credits as provided\n\nin subsection A of Section 2357.4 of Title 68 of the Oklahoma\n\nStatutes. For purposes of this act and for purposes of computing\n\nthe tax credit amount pursuant to subsection A of Section 2357.4 of\n\nTitle 68 of the Oklahoma Statutes, if an enterprise selects to claim\n\nthe credit based upon the qualified cost of depreciable property,\n\nthe credit amount shall be two percent (2%) of such qualified cost.\n\nIf an enterprise selects to claim the credit based upon the number\n\nof new full-time-equivalent positions, the credit amount shall be\n\nOne Thousand Dollars ($1,000.00) for each new full-time-equivalent\n\nemployee;\n\n2. Sales tax exemptions for certain manufacturers as provided\n\nin Section 1359 of Title 68 of the Oklahoma Statutes; and\n\n3. Low interest loans as provided in Section 690.16 of this\n\ntitle.\n\nB. Any enterprise moving into an enterprise zone on or after\n\nthe effective date on which the enterprise zone is designated may\n\nobtain the benefits and incentives provided by this section if the\n\nenterprise meets the requirements established by law for the receipt\n\nof such benefits.\n\nC. An enterprise located within an enterprise zone before the\n\ndate on which the enterprise zone is designated may obtain the\n\nbenefits and incentives provided by this section with respect to any\n\nproject or any expansion of its labor force occurring after the date\n\non which the enterprise zone is designated.\n\nD. For purposes of obtaining the benefit provided by paragraph\n\n1 of subsection A of this section, a business, which prior to the\n\neffective date of this act, located in an area that was designated\n\nas an enterprise zone at the time any official action was taken by a\n\npublic trust or private funds with respect to location of such\n\nbusiness in a county, city or town designated as the beneficiary of\n\nsuch public trust or private funds, shall be entitled to such\n\nbenefit for any taxable year during which such business was located\n\nand operating in the area regardless of any changes in the\n\ndesignation of the area as an enterprise zone resulting from a\n\nchange in employment levels.\n\nE. For purposes of obtaining the benefit provided by paragraph\n\n1 of subsection A of this section, a business, which prior to July\n\n1, 1993, located in an area that was not designated as an enterprise\n\nzone at the time of location of the business but such area has since\n\nbeen designated as an enterprise zone by the Oklahoma Department of\n\nCommerce as a result of the area's location in County 115, Tract\n\n9746, Block Group 4 of the 1990 decennial census, shall be entitled\n\nto such benefit for any taxable year during which such business was\n\nlocated and operating in the location regardless of designation of\n\nthe area in which the business located as an enterprise zone area\n\nafter the date of initial location of the business.\n\nF. The low interest loans as authorized by this section shall\n\nbe available for a period of five (5) years following the date on\n\nwhich the county or area within the corporate limits of a city or\n\ntown is designated an enterprise zone, or until said county or area\n\nno longer qualifies as an enterprise zone.\n\nG. The other benefits and incentives set forth in this section\n\nshall be subject to the limitations as provided by law.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"57ffce314ec2e831be9fa0b721a309ba07865b5d4e100d48b4fbaa5ee8226370","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-690.3","next":"us-ok/okla.-stat.-tit.-62-62-690.5"},"notice":"GroundRules: Original legal text. Not legal advice."}